Minimum wage continues to be a controversial economic and political issue. A recent nationwide survey conducted by Harris Poll on behalf of CareerBuilder revealed some unexpected results. The survey found that a clear majority of employers, 62 percent, believe the government should increase the minimum wage. This included the majority of senior leaders.
Some think minimum wage should move to $10 per hour, while others think $15 or more per hour would be fair. Seventy-seven percent of employers wanting an increase think it should be between $8 and $14 per hour, with 29 percent voting for $8 or $9 per hour and 29 percent voting for $10 per hour.
Employers want the increase because it could improve employees’ standard of living and have a positive effect on employee retention. What might be most interesting is that employers currently hiring minimum-wage workers are more likely to support a minimum wage increase than those who are not. This may be because if there is a legal requirement to increase minimum wage, those paying minimum wage can pay more, and know that their competitors must do the same.
Twenty-seven percent of employers are hiring minimum wage workers in 2014, including 51 percent of retailers and 58 percent of leisure and hospitality firms. Of those, 45 percent are hiring more minimum-wage workers today than they did pre-recession.