Business Leaders Support a Living Wage

Business Leaders Support a Living Wage

“Paying a living wage is good for business.  I have a stable and productive workforce, which enables me to better serve my clients.  Satisfied clients lead to more business and more jobs.  Also, my employees have more money to spend which has a very positive economic impact in the community.”

-Barry Hermanson, Hermanson’s Employment Services

“It’s unconscionable that, in one of the most prosperous eras in our country’s history, many businesses can’t commit to pay a living wage.   Idyll, Ltd. has an official policy that the highest paid staff person cannot receive more than three times the amount of the lowest paid.”

-Hal Taussig, Idyll, Ltd.

“The economy has been growing at a rapid rate, but the buying power of the minimum wage has contintued to decrease. It’s time for businesses to step up to the plate and take some responsiblity. How can I expect an employee to have any dedication to this company if I do not treat
all employees with respect by paying them a living wage?”

-Michele McGeoy, RH Solutions

The Living Wage Benefits Businesses

Paying a living wage has the potential to:

reduce employee turnover and absenteeism, thereby lowering recruitment and training costs

increase productivity

increase morale and commitment to the company

When people are paid enough to support their families, they no longer need to rely on public assistance in the form of housing subsidies, medical assistance, food stamps, and welfare.  In effect, taxpayers are subsidizing employers who don’t pay living wages.

When people are paid enough to support their families, they pay more taxes and buy more goods and services in the local economy, stimulating growth of neighborhood economies.

The vast majority of economic research concludes that there is little or no disemployment effect associated with wage increases, and the benefits far outweigh any negative consequences.

http://www.responsiblewealth.org/living_wage/index.html

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