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Ian Percy

President
The Ian Percy Corporation

Study: Employee Raises More Than Pay for Themselves

November 27, 2012

FROM RETAILWIRE:
A new study from Demos, a liberal think tank, concludes that not only can the nation's largest retailers afford to pay workers substantially more, but that all will benefit greatly as a result. What do you think would be the effect on the retail industry and the economy if wages were raised for full-time workers?      [more...]

MY COMMENTARY:

Having a higher earning potential would undoubtedly attract bright and motivated people who right now won't even look at retail possibilities.

But this article talks about raising the salary of existing employees and that's a different story. It is most likely that many employees would say "It's about time!" feeling they deserve it; not with a view to the future, but as if this is 'make-up money' for the scrooginess of the past. They'll take the money with no change in behavior. Giving a lousy driver a nicer car isn't a winning strategy. Something much deeper needs to happen.

On the other hand, if retailers back up and think about how to create an energizing environment that is meaningful AND rewarding financially, they'll be on a winning track. Throwing money at the problem is one of those typical mechanistic things we do so often and never seem to learn the lesson.

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