There has been a lot of discussion and debate recently about the impact of a raise in the federal minimum wage (to perhaps as much as $10.10 per hour, compared to the current $7.25) on retailers — both large and small. And in 2014, 13 states are raising their minimum wage rate, as shown in the following USA Today chart. [Click on it for a larger view.]
So, what do a cross-section of retailers feel about raising the hourly minimum wage? To answer this question, Retail Owners Institute recently conducted a short online survey of retailers. Although the results may not be fully representative of retailers’ thinking, they are interesting.
Here are a few highlights of the results from the ROI survey:
60 percent of the respondents do not want to see a rise in the minimum wage.
More than one-half of the respondents pay at least some of their employees less than $10.10 per hour.
Many of the respondents are concerned that raising the minimum wage will cause employees who already make more than the minimum wage to expect higher earnings for themselves.