Retail, Restaurant Benefits to Feel Pain of Minimum Wage Hikes
John Thompson was quoted in the EBN article “Retail, Restaurant Benefits to Feel Pain of Minimum Wage Hikes” on November 14, 2014.
John was quoted on the impact of minimum wage increases across the country.
John explained that initial impacts will be felt in industries where traditionally there have been a higher proportion of minimum wage employees, such as the fast food, restaurant and retail sectors. But, he notes that aftershocks could end up in other areas of the workforce.
“The things that people miss in a lot of these debates about minimum wage increases is that unless an employer is ready to build a bunch of wage compression into its system, the impact of the minimum wage increase is going to ripple through an employer’s entire compensation system,” explained John.
To read the full article, please visit EBN.