We now have large numbers of minimum wage employees asking for, or demanding, a pay increase to $15 per hour. I have to wonder how many would accept a fairly structured profit sharing plan in lieu of a flat increase in their hourly wages? In effect, this would make them more like part owners in the business rather than just another minimum wage earner. This combined with in-house training programs and a chance for advancement might make a difference. My guess is that many would much rather just have the pay increase and forget the profit sharing, but I might be surprised.
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Great response and some very valid points. A learned skill is ours to keep forever and can be sold to any employer who needs that skill. Most minimum wage employees have few if any skills but are trainable. It could be a step forward for them.
Your probably right Ron.