It costs one fifth of a worker’s salary to replace him, and continued turnover only leads to higher replacement fees.
This is why some companies such as Walmart adopted a $10 minimum wage. Yes, that multi-national corporate retail giant, Walmart.
After Walmart announced it would raise their minimum wage to $10 in February an unusual trend began. One that conservatives said wouldn’t happen…
Walmart’s CEO Doug McMillon said in a press conference
?Our job applications are going up and we are seeing some relief in turnover.?
This is great news for a company that has been called by many as a poor place?to work.
Apparently the one?billion dollar reinvestment into it’s workforce has led Walmart to reap benefits, which was contrary to Conservative belief.
But the benefits don’t stop their as McMillon also said that Walmart would increase the wages for another 100,000 workers and this:
“This won’t be the last jump.”
And that means that?not only has Walmart already raised the wages of 500,000 workers, but is also extending the fortune.
The press release also stated:
“[They] would relax its dress code, adjust the temperatures in its stores and bring back a company-run radio station as part of measures aimed at improving conditions for its roughly 1 million U.S. hourly workers.”
Many of you may be thinking that Walmart is still a lousy company because of poor item quality and shady manufacturing practices, but this effort will help shed light and breathe new life?into its workers. While Walmart’s journey towards ethical business is not yet done, the path is being laid down.