Earlier today I came across a youtube news commenter who spoke about minimum wage. He asked the question, should minimum wage be raised for low wage earners who work at McDonalds.
I’ve worked for a few major corporations in time, who offered me a the bare minimums. Now that I am older and wiser, I’ve had some time to think about the whole situation. Let illustrate my new insight with a fictional company, in a fictional market. Supposing that Banana Co, earned 1.2 Billion dollars in profits during the 1st quarter of the year. The share holders rejoice, the CEO and friends assign themselves nice bonuses, and everyone is happy right? Well then the real question that should be asked is, what is the REAL factor that enabled the company to perform well in during that quarter?
Is it the smart thinking of the CEO and the tenacity of the managers down below? Sure they all play a part in the process, however they don’t play the ONLY part in reaching those financial goals. Unless Banana Co’s workforce is comprised entirely of robots, I am quite certain that a large part of the financial success is due to the labor force which interacts directly or indirectly with the clients and customers of Banana Co.
This brings me to my point, I don’t believe in minimum wage.. (pause) In a perfect world, in my example, when Banana Co, makes record profits, EVERYONE should get bonuses, right down to the lowly line worker. Sure, accountants will need to work much harder, and human resources departments won’t be able to offer ‘flat compensation’ packages, but.. in the end, a company who values their team members, won’t need adhere to a policy that sets minimum wages, they would always look for ways make sure their team members lived well. After all, a worker who doesn’t have to spend ALL their leisure time, trying to make ends meets, can better focus on the job of helping the team WIN more.
In conclusion, my appeal is simple. It takes a TEAM to win a game. People shouldn’t be paid according to the tasks that they do, but the TEAM should value it’s members, to ensure that they are always in a position to create new WINS for the team. If you value your people, the government won’t have to set ‘polices’ to make sure you are treating them right.