70% of workers are likely to quit at current $7.25 federal minimum wage in 'brutal' turnover cycle

[Markle]

Conservatives keep saying minimum wage is supposed to be a “starter wage”

Paying for college, getting a car, moving out is......starting

If you're paying for college with a minimum wage job, you certainly have no business in college!

 

[Picaro]

Another dumb fuck opinion piece, News flash needle dicks.....

1. Who makes minimum wage and stays at minimum wage for months or years at end?


2. (THE MOST IMPORTANT) 70% OF WORKERS WILL QUIT WHAT EVER MINIMUM WAGE PAYS


YOU DUMB MOTHER FUCKERS.


70% of workers quit at current $7.25 federal minimum wage in 'brutal' turnover cycle

70% of workers are likely to quit at current $7.25 federal minimum wage in 'brutal' turnover cycle

• A survey of tens of thousands of small businesses reveals that the employee turnover rate is more than double the national average when employees are paid the federal minimum wage of $7.25/hour.
• With a nationwide movement to raise the minimum wage to $15/hour, the research shows that turnover rates would decline as a result, though with a diminishing impact once wages pass $15.

Matthew Castillon, data scientist at Gusto
Published 3 Hours Ago Updated
Fast-food workers and supporters fight to raise the minimum wage to $15 an hour.
For the more than 6 million small businesses nationwide, employee turnover can be a brutal expense.

In fact, nearly 1 in 3 (32%) employees will no longer be at their current employer one year from now. For a team of 20, where each person earns $50,000, that turnover rate can cost a business more than $100,000 a year. That's why reducing turnover is essential for keeping costs down as it relates to hiring, onboarding and training employees.

In a recent analysis of why employees leave small businesses, the research team at payroll, HR and benefits company Gusto found a strong correlation between hourly wage thresholds and the rate of turnover.

According to the data from tens of thousands of small business employers who work with Gusto across the U.S., employees earning $7.25/hour (the current federal minimum wage) have a 70% chance of leaving within a year, more than double the average turnover rate of 32%.

This finding comes alongside the recent passage of the Raise the Wage Act in the U.S. House of Representatives. The bill proposes a gradual increase to the federal minimum wage from $7.25/hour to $15/hour by 2025. The Senate hasn't considered the bill at this point, yetnearly all 2020 Democratic presidential candidates support the legislation.

The results here are pretty intuitive ,and have been assumed to be correct for more than a hundred years.

The late Henry Ford didn't double assembly line wages so that his workers could buy his cars, even though that's the liberal myth. He did it it reduce turnover as he felt that would improve quality of the product.

In some lines of work, high turnover isn't a big deal, but it is something employers need to consider in their own business, when setting wages.

Henry Ford also didn't pay very many workers that $5 an hour; there were so many strings attached to it, including having his company's 'social workers' coming over unannounced and searching your house, and telling you what to buy, etc., including telling you what magazines you could read, that sort of stuff. Well managed companies don't have that kind of turnover, just asshole companies do, no matter what their wages are.

 

[Picaro]

Nothing gets these 'free market' fakes excited like minimum wage, does it? All sorts of whining and moaning, as if the world will end or something. lol what a bunch of phonies. Not one of the whiners here have ever posted topics complaining about the limited liability scams for corporations going bankrupt, or the restrictions on short sales, for instance. Seems they don't think shareholders should be held personally liable for the debts or criminal fines of companies they allegedly own; that would be just 'unfair' or something. they also seem to just like abusing workers for no particular reason than it seems to be fun for them. They must 'know their place'. Like I said earlier, it's more about them being embarrassed at their own low chump change pay relative to a minimum wage adjusted for inflation, or they work for or 'invest' in sweatshops and 'outsourced' labor racketeering scams of one sort or another, or like to hire criminal illegal aliens. They like making money off of essentially stealing and bleeding productive people.

 

[Picaro]

They have the expense of trying to start out in life

Get a car, pay for gas and insurance
Pay for a college education
Eventually move out of their parents house

$7.25 doesn’t cut it

As you know, it isn't supposed to "cut it".

Conservatives keep saying minimum wage is supposed to be a “starter wage”

Paying for college, getting a car, moving out is......starting

When it was adjusted for inflation often, it worked just fine; now that the right wingers have managed to buy politicians and have refused to adjust it and have plenty of Wall Street Allies running the Democratic Party now, the gap is relatively huge now, they have to run around getting the Stupid and Dumb to shill against raising it. As I said before you could indeed get by on it as a single person before the rapid inflation cycles of the 1970's hit, and same for medical care before private doctors and HMOs started looting Medicare and doctors and drug compnaies had to charge according to what people could afford.

None of these shills are actually for laissez faire, they're for big subsidies for WAll Street, while screwing over small businesses and workers; it's the only way many of them can make more than they're actually worth, by being parasites off someboy else's labor. If they can't pay employees $17 or so an hour, then they don't really have any business worth bragging about in the first place, they're just bottom feeders and leeches.

 

[Wyatt earp]

Another dumb fuck opinion piece, News flash needle dicks.....

1. Who makes minimum wage and stays at minimum wage for months or years at end?


2. (THE MOST IMPORTANT) 70% OF WORKERS WILL QUIT WHAT EVER MINIMUM WAGE PAYS


YOU DUMB MOTHER FUCKERS.


70% of workers quit at current $7.25 federal minimum wage in 'brutal' turnover cycle

70% of workers are likely to quit at current $7.25 federal minimum wage in 'brutal' turnover cycle

• A survey of tens of thousands of small businesses reveals that the employee turnover rate is more than double the national average when employees are paid the federal minimum wage of $7.25/hour.
• With a nationwide movement to raise the minimum wage to $15/hour, the research shows that turnover rates would decline as a result, though with a diminishing impact once wages pass $15.

Matthew Castillon, data scientist at Gusto
Published 3 Hours Ago Updated
Fast-food workers and supporters fight to raise the minimum wage to $15 an hour.
For the more than 6 million small businesses nationwide, employee turnover can be a brutal expense.

In fact, nearly 1 in 3 (32%) employees will no longer be at their current employer one year from now. For a team of 20, where each person earns $50,000, that turnover rate can cost a business more than $100,000 a year. That's why reducing turnover is essential for keeping costs down as it relates to hiring, onboarding and training employees.

In a recent analysis of why employees leave small businesses, the research team at payroll, HR and benefits company Gusto found a strong correlation between hourly wage thresholds and the rate of turnover.

According to the data from tens of thousands of small business employers who work with Gusto across the U.S., employees earning $7.25/hour (the current federal minimum wage) have a 70% chance of leaving within a year, more than double the average turnover rate of 32%.

This finding comes alongside the recent passage of the Raise the Wage Act in the U.S. House of Representatives. The bill proposes a gradual increase to the federal minimum wage from $7.25/hour to $15/hour by 2025. The Senate hasn't considered the bill at this point, yetnearly all 2020 Democratic presidential candidates support the legislation.

The results here are pretty intuitive ,and have been assumed to be correct for more than a hundred years.

The late Henry Ford didn't double assembly line wages so that his workers could buy his cars, even though that's the liberal myth. He did it it reduce turnover as he felt that would improve quality of the product.

In some lines of work, high turnover isn't a big deal, but it is something employers need to consider in their own business, when setting wages.

Henry Ford also didn't pay very many workers that $5 an hour; there were so many strings attached to it, including having his company's 'social workers' coming over unannounced and searching your house, and telling you what to buy, etc., including telling you what magazines you could read, that sort of stuff. Well managed companies don't have that kind of turnover, just asshole companies do, no matter what their wages are.

Link super twat...

 

[Wyatt earp]

They have the expense of trying to start out in life

Get a car, pay for gas and insurance
Pay for a college education
Eventually move out of their parents house

$7.25 doesn’t cut it

As you know, it isn't supposed to "cut it".

Conservatives keep saying minimum wage is supposed to be a “starter wage”

Paying for college, getting a car, moving out is......starting

When it was adjusted for inflation often, it worked just fine; now that the right wingers have managed to buy politicians and have refused to adjust it and have plenty of Wall Street Allies running the Democratic Party now, the gap is relatively huge now, they have to run around getting the Stupid and Dumb to shill against raising it. As I said before you could indeed get by on it as a single person before the rapid inflation cycles of the 1970's hit, and same for medical care before private doctors and HMOs started looting Medicare and doctors and drug compnaies had to charge according to what people could afford.

None of these shills are actually for laissez faire, they're for big subsidies for WAll Street, while screwing over small businesses and workers; it's the only way many of them can make more than they're actually worth, by being parasites off someboy else's labor. If they can't pay employees $17 or so an hour, then they don't really have any business worth bragging about in the first place, they're just bottom feeders and leeches.

We live in a global economy now, the world caught up to us finally after WWII when imports rose over exports, we have 20 million illegals in this country, what do you expect us to do everyone make minimum wage @ $25 bucks an hour?

That's what you really want trickle up misery, where no one gets ahead