When it comes to tools, most remodelers want to invest in the best they can afford. They also recommend that homeowners invest in the best materials. But when it comes to investing in employees, it’s often another story.
Author Andrew Winston explores why paying higher wages is considered one of the “business investments that freak people out” in his piece for The Harvard Business Review.
“Recently, a smaller tech company, Gravity Payments in Seattle, took a more unusual step by raising the minimum wage for professionals in the firm to $70,000 per year. Given the collective hand-wringing from some economists and pundits following the announcement, you would think Gravity was waging war on capitalism,” Winston writes. “But a decision to invest in people, even in an unconventional way, should be judged no differently than other strategic investment choices.”
Read Winston’s column on The Harvard Business Review.