3 ms·

> People say "If a business can't afford to pay a living wage, then they should close" I have a cookie company that raised the pay after we opened our 2nd loca

> People say "If a business can't afford to pay a living wage, then they should close" I have a cookie company that raised the pay after we opened our 2nd location (economies of scale, buying in bulk, etc). Its in my interest as an employer to raise the pay since it typically raises the buy-in from employees. Companies like Netflix and Costco pay at the top of the competitive range and it allows you to run a tighter ship. Payroll is a cost, sure, but it's also an investment if you can afford it. Raising the minimum wage removes that competitive advantage for me. It takes time to bootstrap a company. It still only pays me half an engineering salary after 3 years.

throw0101a 5y ago
> Companies like Netflix and Costco pay at the top of the competitive range and it allows you to run a tighter ship. There's the old exchange: > CFO asks CEO: “What happens if we invest in developing our people and then they leave us?” > CEO: “ What happens if we don’t, and they stay?” * https://www.linkedin.com/pulse/cfo-asks-ceo-what-happens-we-invest-developing-our-people-poullis https://www.linkedin.com/pulse/cfo-asks-ceo-what-happens-we-... * https://twitter.com/richardbranson/status/449220072176107520 https://twitter.com/richardbranson/status/449220072176107520