Please see my first post for the Intercollegiate Review website, ‘What Role Does Charity Have in the Workplace?’
Charity may begin at home but it ends at the workplace, suggests a report from the New York Times. The world cheered when Dan Price, cofounder of Gravity Payments, decided to initiate a minimum salary of $70,000 per year across the board for his workforce, this after hearing a friend complain about making ends meet on $40,000 a year and realizing that many of his 120 employees earned less.
Those who were already receiving this minimum salary, however, didn’t like it. They had had to work long hours to attain that pay level. Experience and the hard work that gave rise to it merited their compensation, but now new hires and others with lower seniority were reaping the benefits without the effort. Minimum-wage mandates have always raised the hackles of classical economists, but rarely have they drawn the publicly vented ire of employees themselves. Until now.