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There was a tweet the other day about Walmart. They raised worker pay which, unsurprisingly, did not make Wall Street happy in the short term. However, over t

There was a tweet the other day about Walmart. They raised worker pay which, unsurprisingly, did not make Wall Street happy in the short term. However, over the next couple years there were multiple benefits: - lower turnover - less employee theft - cleaner stores - more same store sales etc

deleted 1y ago
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SilverElfin 1y ago
That doesn’t seem convincing as far as evidence. Is there something by more formal showing raising pay led to those specific outcomes?
- sp4cec0wb0y 1y ago
  It is about the same level of evidence as a CEO getting hired and their profits ticking up, which becomes attributed to them.
  - thayne 1y ago
    I'd say it's higher, because it makes a lot of sense that if you pay your employees more they are more likely to stay around, put in more effort, not steal merchandise, etc. Not to mention it probably increases the pool of prospective employees you can choose from.
- danudey 1y ago
  There's an article about it: https://archive.is/fPAlB https://archive.is/fPAlB Walmart executives seem to claim that the pay raise led to those outcomes; specifically, they talked to employees and realized that in order to get those outcomes they had to stop paying people the least they possibly could because why would anyone stay? From the article: > Rissa Pittman, then a store manager in Ponca City, Okla., said it was easier to staff her store after 2015 as wages improved and it became easier to train workers for promotions.
  - prewett 1y ago
    The sad part is that they had to do a study to find out that information. I don't think Sam Walton would have needed a study.
- wiseowise 1y ago
  You'd make an awesome CEO.
- juancn 1y ago
  Walmart has been building a fairly robust EX program in the last few years, increasing associate engagement to drive CX and hence business outcomes. It's likely not just pay, but a concerted effort across the board that drives results, but the pay increase is the one that calls WallStreet's attention.
garblegarble 1y ago
I went looking for a source on this, looks to be: https://www.wsj.com/business/retail/walmart-employee-treatment-success-f96761f4 https://www.wsj.com/business/retail/walmart-employee-treatme... / https://archive.is/fPAlB https://archive.is/fPAlB

deleted 1y ago

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SilverElfin 1y ago

That doesn’t seem convincing as far as evidence. Is there something by more formal showing raising pay led to those specific outcomes?

sp4cec0wb0y 1y ago
It is about the same level of evidence as a CEO getting hired and their profits ticking up, which becomes attributed to them.
- thayne 1y ago
  I'd say it's higher, because it makes a lot of sense that if you pay your employees more they are more likely to stay around, put in more effort, not steal merchandise, etc. Not to mention it probably increases the pool of prospective employees you can choose from.
danudey 1y ago
There's an article about it: https://archive.is/fPAlB https://archive.is/fPAlB Walmart executives seem to claim that the pay raise led to those outcomes; specifically, they talked to employees and realized that in order to get those outcomes they had to stop paying people the least they possibly could because why would anyone stay? From the article: > Rissa Pittman, then a store manager in Ponca City, Okla., said it was easier to staff her store after 2015 as wages improved and it became easier to train workers for promotions.
- prewett 1y ago
  The sad part is that they had to do a study to find out that information. I don't think Sam Walton would have needed a study.
wiseowise 1y ago
You'd make an awesome CEO.
juancn 1y ago
Walmart has been building a fairly robust EX program in the last few years, increasing associate engagement to drive CX and hence business outcomes. It's likely not just pay, but a concerted effort across the board that drives results, but the pay increase is the one that calls WallStreet's attention.

garblegarble 1y ago

I went looking for a source on this, looks to be: https://www.wsj.com/business/retail/walmart-employee-treatment-success-f96761f4 https://www.wsj.com/business/retail/walmart-employee-treatme... / https://archive.is/fPAlB https://archive.is/fPAlB