If you spend hundreds of thousands once, you could instead spend a dollar each on 100 employees for ~80 years. They don’t work that long usually, but just in case
Dollar raise a year? Yeah, $1 * 100 * 80 = $8000, and to a lot of businesses that’s peanuts. It’s also peanuts to the individual employees, if you work full time federal minimum wage you make $15600, an extra dollar wont make a difference there.
Increase hourly wage by a dollar, to the employee that’s an extra 1 * 40 * 52 = $2080, and to the business that becomes $1 * 40 * 52 * 100, that’s $208,000 annually they’re paying out.
If you spend hundreds of thousands once, you could instead spend a dollar each on 100 employees for ~80 years. They don’t work that long usually, but just in case
Your math is right but scales are off.
Dollar raise a year? Yeah, $1 * 100 * 80 = $8000, and to a lot of businesses that’s peanuts. It’s also peanuts to the individual employees, if you work full time federal minimum wage you make $15600, an extra dollar wont make a difference there.
Increase hourly wage by a dollar, to the employee that’s an extra 1 * 40 * 52 = $2080, and to the business that becomes $1 * 40 * 52 * 100, that’s $208,000 annually they’re paying out.
That’s what they aim to stop