Anyone who supports the notion of a corporation voluntarily increasing wages for those at the lowest rungs on the income ladder has got to be happy about one small recent development announced yesterday: Aetna is increasing the wage rate floor for all employees to $16/hour ($32,000 a year). This will result in higher pay for 7,500 of Aetna's lowest paid employees - about 12% of its domestic work force.
Aetna CEO Mark Bertolini should be applauded for doing a good thing yesterday, even if having an effective work force was the motivation. This comes on the heels of increases in minimum hourly wages at Gap and Starbucks.
Huffington Post:
Aetna CEO Asked Execs To Read Piketty, Then Gave His Lowest-Paid Workers A Raise
http://www.huffingtonpost.com/...
LA Times:
Health insurance giant Aetna to boost minimum wage to $16
http://www.latimes.com/...
Bloomberg News:
Aetna Gives Lowest-Wage Employees a Raise as Economy Improves
http://www.bloomberg.com/...
There is a long way to go, but a step in the right direction has been taken.
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The diarist (meaning me) has no connection to Aetna, Starbucks or The Gap.