You may have heard about a Seattle CEO that decided to raise the minimum salary for all of his employees to 70K. At the time of his decision, all of the right-wing pundits came out of the woodwork to spew hatred and vitriol. They were not only hoping that he would fail and prove their fear mongering, money grubbing tactics and advice right, but I think they were also petrified that he would succeed and show the world the inherent falsities behind their model of selfishness and greed.
Deep down I truly believe all the multi-millionaires and billionaires and corrupt politicians know that raising the minimum wage wouldn’t pose any threat to the success of the company overall. I do think they believe it will hurt their personal bottom line though, which is all they care about. They have no interest in only making 100k a year instead of 500k even if it ensures that the people working for them, who are creating all of their wealth, are able to live with some modicum of dignity and security. The fact that CEOs receiving a lower salary wouldn’t affect their quality of life at all, but would make a world of difference to possibly hundreds of other people does not matter to them at all.
That is why I think the progressives are going about it in the wrong way. They need to stop stressing the moral atrocity angle of it and instead speak to what these greedy people do care about, themselves. After a few years, Dan Price, the CEO I mentioned earlier was surprisingly not bankrupt. His company hadn’t failed, nor had his quality of life decreased, in fact both his company and his life had improved. I know a lot of people who have bought into the myth of capitalism would like to believe that this is just a fluke, but it was the obvious and expected result for people like myself.
So what happens when you pay your employees a living wage? The company doesn’t go under, nor does it stay the same with a slightly smaller windfall for the CEO, it grows and flourishes. The reason for that is because if you have a job that actually pays you fairly, you will do whatever it takes to keep that job. This is the part of the equation that everyone always seems to leave out. Honestly, even if the company is too small to pay their employees any more, just treating them like fucking human beings will have the same effect.
I can say from personal experience that I go above and beyond for my job, and I do so happily, because I adore my coworkers, management, and the organization as a whole. I may not make as much money as I should, but our organization simply doesn’t have the money to pay us more. What they do have is respect for us as people, which is something I’ve found to be just as rare as a job that pays well. And for me, it’s even more important than the money.
Now, you might be asking, why does it matter if the employees are motivated to stay with the company? Well imagine how much money the company actually saves when it doesn’t have to spend huge amounts of time every year training new employees to do the exact same things the old employees already knew how to do and had experience doing. When employees actually stay at their job for years at a time, they become much better at it. They are also more motivated to perform well as opposed to employees that hate their job. With that experience and motivation, employees add a lot more value to their companies. It spurs innovation and exceptional service, which only makes the company do even better, ultimately leading to more money for the people at the top, even though they may initially have to make less to get them there.
At Dan Price’s company, they hit hards times like the rest of the world when the pandemic began. But you know what happened? The employees hadn’t become “entitled” or “greedy” demanding more and more money despite the financial state of the company. No, they voluntarily took pay cuts in the beginning stages of Covid to ensure that the would continue to have a company to work for. They even pooled their money together and bought Price a Tesla for his birthday. They love their boss, because he values them as people. They are grateful to him. It’s because of him that so many of them were able to buy their first houses and start families. I’m sure for a lot of them, it was the first time they were given any respect or consideration by the people at the top of their organization. And with the work environments that exist today, that means everything.
Paying your employees what they deserve to be making already and treating them with respect, isn’t some benevolent act of charity. It’s just smart business. Even if you only care about yourself and your bottom line, it’s still the right thing to do. I truly hope to one day see more CEOs following Price’s example. I also hope that politicians and political pundits would start emphasizing the stupidity of continuing on the way these companies are now. They are acting against their own interests as well as their employees’ and our society as a whole. Few things are more profitable or personally rewarding as having fiercely loyal employees all working passionately toward the same goal for a company and a group of people that they love.