Workers Will Command Higher Wages
Companies like Amazon, Best Buy have increased minimum wages to $15 or $16 per hour.
Two forces have triggered the rise of retail’s minimum wage: strong pandemic profits and anticipation of impending regulatory changes.
They are even calling out competitors, such as Walmart, for paying as low as $11 in some places, despite having an average minimum wage of $15 per hour. This pressure to standardize wages could help to lift them across the U.S.
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Better Hiring: Higher Salary
Offer higher wages—and not just signing bonuses. To attract workers, including hourly employees, some employers have resorted to signing bonuses. Restaurants, for example, are offering bonuses when people are hired or after a period of a few months.
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