A New Take on the Minimum Wage
Dear Clients & Friends,
For this weekend’s reading, we would like to share an article written by the founder of Philadelphia’s own La Colombe Coffee Roasters, Todd Carmichael. He believes that paying employees the federal minimum wage of $7.25 per hour is not only bad culture, it’s also bad business. We at MORWM agree.
Why, you may ask, do new hires at MORWM start with 6 weeks of paid time off? Because we believe deeply in work/life balance, we believe in “maintaining our equipment,” and in keeping our most important resource, the human resource, operating at its maximum level of efficiency. We believe that the best investment we can make in order to make your investments work, is investing in people.
The article linked below discusses a different approach to the minimum wage debate. Yes, an employee who can’t afford to take their children to a pediatrician represents an enormous problem in America, and a shameful problem for the most powerful country in the world. But there’s more. Penny-pinching with staff compensation cheapens the quality of the product or service at hand.
We hope you enjoy the article below. Let us know what you think.
Have a lovely weekend.
Matthew Ramer, AIF® Principal, Financial Advisor MOR Wealth Management, LLC
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