Most Businesses Show Support for Increases in State Minimum Wages
The majority of employers are in favor of raising state minimum wages, according to a survey by Careerbuilder, which found that two-thirds of them were in favor of doing so.
CareerBuilder’s poll of 2,188 HR professionals found the top reasons why employers want an increase in state minimum wages:
- It can improve the standard of living: 74 percent
- It can have a positive effect on employee retention: 58 percent
- It can help bolster the economy: 55 percent
- It can increase consumer spending: 53 percent
- Employees may be more productive/deliver higher quality work: 48 percent
- It can afford workers the opportunity to pursue more training or education: 39 percent
Employers were also asked what they thought the minimum wage should be increased to:
- $8 or $9 per hour: 29 percent
- $10 per hour: 29 percent
- $11-$14 per hour: 19 percent
- $15 or more per hour: 7 percent
- No set minimum wage: 9 percent
The one-third of managers who didn’t support the increase were asked why they were opposed to it:
- It can cause employers to hire less people: 66 percent
- It can cause issues for small businesses struggling to get by: 65 percent
- It can cause hikes in prices to offset labor costs: 62 percent
- It can mean potential layoffs: 50 percent
- It can lead to increased use of automation as a replacement for workers: 32 percent
- Wages for higher-level workers may suffer and create retention issues: 29 percent
By Joshua Bjerke