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Steve Montgomery

President
b2b Solutions, LLC

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:

This reminds me of an instance where we were discussing increasing the wages of our 5,000+ employees and the HR department suggested giving everyone an X percent increase. My response was similar to Bob's. I saw no value in giving everyone the same percentage raise just because it was the easiest thing to do.

Instead we determined what the agreed upon raise would cost and then determined how best to allocate it across our employee base. That meant we first had to change the compensation programs from an automatic raise system based on time in a position to one based on the skill sets of each employee. Much more work, but far more rewarding for those employees who had demonstrated better skills and for the company as well. What it did do was create pressure on our training department from the employees for a chance to improve their individual skills.

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