While the ‘Living Wage’ issue seems to affect only the largest retailers and fast-food giants, the effort, if successful, will alter every business’ ability to enter into basic agreements with individuals resulting in a benefit for both parties.
California Governor Jerry Brown just signed a bill that will gradually raise the state’s minimum wage from $8/hour to $10/hour by 2016, saying it is a long overdue measure to raise the income of working families. Yet earlier in September Washington DC Mayor Vincent Gray, also a Democrat, vetoed a City Council bill that would require large retailers [read Wal-Mart] in the city to pay higher wages, a measure that had drawn national attention. Gray called the bill a "job-killer," saying it would result in the loss of thousands of jobs in Washington. So who’s right?
When hiring new employees, counter offers should be expected, as nobody wants to lose their best people. It is a lot easier to make a counter offer than it is to find a new person especially if the person quitting is top talent.
A survey of 300+ CEOs conducted in early May shows declining confidence in business conditions, even as economy reopens in many parts of the country and around the world. But there could be a silver lining.