Collector - January 2018 - 32
ONLY 20 PERCENT
SAY THE SAME.
had minimum wages that exceeded the
federal standard, and 20 states will be raising
their minimum wage sometime in 2018.
These changes can affect every company's
payroll-even those that don't have any
minimum wage staffers.
In a 2014 Bookings Institute report,
researchers Benjamin H. Harris and Melissa
S. Kearney cited the minimum wage's "ripple
effect," which "occurs when a raise in the
minimum wage increases the wage received
by workers earning slightly above the
Some ACA members are currently
grappling with this ripple effect. "The
minimum wage standard provides a pressure
of sorts in that it is our goal to always
stay ahead of it," said George Huyler, vice
president of human resources for ConServe
in New York, a state that just upped its
minimum wage 70 cents to $10.40. "As
the minimum wages increase, we strive to
maintain our hourly pay above that level."
John Viggiano, marketing and
communications executive at Simon's
Agency in New York, feels similarly. "Simon's
Agency tends to pay a tier above the
minimum wage to ensure we can maintain
our pool of quality people," he said. "We have
recently increased our base to ensure we
continue to offer competitive wages to bring
in the best people available."
While the minimum wage ripple effect
does seem to be impacting Simon's Agency,
Viggiano was quick to point out that he
thinks minimum wage increases force
all companies to look at their model and
improve to stay competitive. Simon's Agency
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