http://www.cnbc.com/id/102439152
Walmart has finally decided to raise their minimum wage to $9/hour for entry level employees. It has been predicted that with Walmart's announcement this will give momentum to other companies to raise their minimum wage. If so, this "would generate long-awaited wage inflation, the lack of which has been a main contributor to the lackluster post-recession economic recovery in the U.S., the worst since the Great Depression." While it is still unknown if Walmart has done this because of the increasing pressure to raise the minimum wage or because they wanted to help their hardworking employees. It will be interesting to see how Walmart's new pay will affect their worker retention and customer satisfaction.
5 comments:
I think this is a great move by Walmart. Other than the obvious benefits to the american economy, I think it’ll really help Walmart’s revenue. Many customers had boycotted Walmart because of their inability to raise wages, but now since they have this helps their image and the attitude of customers towards them.
I also think this is a great move. Whatever the intent behind the raised wage rated, the increase is certainly increasing their popularity both for employees and customers.
This move by Wal-Mart is much like what we witnessed a century ago with Henry Ford. Lower turnover, higher morale, and employee engagement should lead to higher productivity. This should generate a better bottom line. I want to see what the median and average pay rate at Wal-Mart are after the change. This could be the beginning of a national movement.
This was a great move by Walmart. It will raise the morale of its employees, but also could lead to higher customer satisfaction. Walmart is a very successful company and this will only lead to further success with happier employees.
I agree that this move by Walmart will encourage employees to work and will increase their morale as well leading to increased efficiency and productivity. Customer satisfaction will also increase due to this move. So it's a plus for both employees and customers.
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