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Based on the documentaries I've watched, the real reason Henry Ford lifted wages to $5 was to solve retention issues. Working at the car factory was a pretty b
by mortehu 11y ago
Based on the documentaries I've watched, the real reason Henry Ford lifted wages to $5 was to solve retention issues. Working at the car factory was a pretty bad job, and employees were constantly leaving. Before the wage hike, he hired 52000 people in a year to maintain a staff of 14000.
- rm_-rf_slash 11y agoMore or less the same reasoning: if you spend more on employees they can cost you less in the long run, just as spending more on shoes means they will last you far longer than junk that wears away.