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Yahoo Finance, Dec 20, 2022

Dave Titterington, owner of Wild Bird Habitat Stores in Nebraska, joins Yahoo Finance Live to explain why he's an advocate for higher minimum wages and passing Nebraska Initiative 433.

- More than 20 states are set to increase their minimum wage at the start of the new year. And the proposed raise the Wage Act in Congress aims to increase the federal minimum wage to $15 an hour. Let's talk about what this could mean for small businesses, the impact there. We want to bring in Dave Titterington. He is the owner of Wild Bird Habitat stores and also a member of the Business for a Fair Minimum Wage Network. Dave, it's great to see you here. So let's just talk about the impact that this is going to have on your business, whether or not small businesses should support higher minimum wages. You make the case that this is good for business. Why?

DAVE TITTERINGTON: Well, since we opened 30 years ago, we've always paid above minimum wage. And we continue to do so. ... The reason being these employees are, by me, considered an asset and an investment in our business. ... [The higher wage] cost is tremendously offset when you have to hire employees, you have to train them, you're having extra people on the clock while you are training them, and then you just never know how they're going to turn out. ...

Our retention rate is extremely high. And that really offsets the cost of going to Indeed, where you can spend thousands of dollars and maybe not get the qualified employee you want. ...

And paying a fair wage to our employees. They're the first people that are seen when the customers come in the door.

They're one of our best forms of advertising because those customers are satisfied when they leave the home and tell their family, their friends, or associates. And it increases our business. ...

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