Inflation and the Responsibility of an Employer

Quote:

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Originally Posted by Rick

Honestly, where DO you come up with this stuff. Of course it has. In fact, wages generally exceed the rate of inflation. The average wage increase is somewhere around 3 - 3.5% (I've seen varying numbers). Even last year, the rate of inflation was as low as 1.97% and remained below 3% until the 4th quarter.

http://www.inflationdata.com/inflati...Inflation.aspx

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Gas, groceries and property taxes only 1.97%, Rick?

http://inflationdata.com/inflation/I...efinitions.asp

Alpine - I think that you are making an assumption that was not in my question, so let me clarify in case I wasn't clear. As in Bragg's original question - the employer is struggling due to economic pressures, not poor business descisions. So my question isn't about longevity raises or bonuses. It is about paying them more because the economy is causing hardships. I disagree with your idea about giving your key people an increase on the "down low". That is a sure way to spell disaster for any company. So, just in keeping with Bragg's theme, but with a twist - do they have a responsibility to the employer to cut those wages and benifits if the employer is struggling?

"From each according to his ability, unto each according to his needs." - Karl Marx
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The best way to provide extra compensation to an employee is through some sort of profit sharing mechanism. If the biz does well so do the employees. If the biz does not do well...
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Teaching: I taught for a few years as a second career in the nearby town. There is a McDonald's billboard on the way in to town advertising Asst. Mgr. positions - the billboard posts the starting salary which is $1,000 more than the local starting salary for a teacher. As a teacher, I tracked my hours and calculated that I was making less than minimum wage and that did not take into account spending out of my own pocket for supplies and materials. It also was by far the most stressful job I've ever had and I came from a "Big Giant MechCorp" that has a reputation for a cut-throat culture.

Sam - Just read the post and the data on the link. August 2007 was 1.97% just as I said. I have no idea what you are trying to say with your link.

Teotwawki - I also tend to agree with profit sharing. Of course, I believe in most things that develop a tie in for the employer and employee. After all, both have the same basic goals, wants and needs. It's much harder for a mega corporation to have direct employee participation in business decision making but certainly not impossible. For the smaller company, I think a lot of business decisions should be made with input from the employee. From building the company Mission Statement to re-investment in the company, sales, promotions, etc. To me, the employee is the single most important and versatile element in a business and their ideas and thoughts can be just as cutting edge as the owners. Well, not mine, of course, mine are cutting edge even for cutting edge people.:D

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