By John Unrein
Bake Magazine, Dec 26, 2019
Twenty-one states are kicking off the new year by raising their minimum wage, and certain business owners are speaking out in support. These business leaders say the increases taking effect on Dec. 31 and Jan. 1 will boost consumer spending, reduce costly employee turnover, increase productivity and customer satisfaction, and strengthen local economies. ...
Thousands of business owners and executives have signed Business for a Fair Minimum Wage’s statements supporting state and federal increases because they believe a higher wage floor will increase consumer buying power, foster a more stable and productive workforce, and strengthen businesses and communities.
“Twenty-one states are ringing in the New Year with minimum wage increases, and that’s great news for business and our economy,” says Holly Sklar, chief executive officer of Business for a Fair Minimum Wage. “It’s vital to remember that workers are also customers, and minimum wage increases boost the buying power of people living paycheck to paycheck. Minimum wage raises also pay off in lower employee turnover, reduced hiring and training costs, lower error rates, better productivity and happier customers.”
Pete Turner, Founder of Illegal Pete’s restaurant chain in Colorado and Arizona, points out that Illegal Pete’s is a champion for fair and sustainable employee wages.
“We understand firsthand the benefit in supporting a higher wage for businesses and the communities surrounding them,” Turner said. “We implemented the final phase of our Living Wage initiative in January 2019, raising our tipped minimum wage to $15/hr. Since then, the company has continued to grow, even earning a spot on the Inc. 5000 Fastest Growing Companies in the U.S. We continue to experience industry-leading low turnover rates, and our customers love supporting a business that takes care of its employees.” ...