Off-Topic: $70K minimum wage
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Name:
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Talullahhound
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Subject:
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$70K minimum wage
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Date:
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4/17/2015 1:56:30 PM
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I believe the basis of his decision were studies that have indicated that $70K a year is considered a "living wage", i.e. that which a person can actually live on. I don't recall if you mentioned that he, as CEO, is taking a very significant pay cut to achieve this. I also don't recall what other benefits his employees are getting, like health care or vacation time. One thing is for sure - the turnover will no doubt be very low for his clerical/administrative staff. I have found it is a lot easier to hire a new engineer or other professional than it is to hire really good clerical/administrative staff. Doubt the model would work for every company, but if his company can afford it and he wants to do it, why not?
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