Help me help you!

Trying to get a grip and properly handle an economy’s ups and downs can be difficult.  However trying to face the challenge without a sufficient paying job is even harder.  Today while reading the financial times, I came across an informative piece concerning the struggle of Ireland’s people attempting to save their homes from being repossessed by subprime lenders.  Ireland’s troubles are falling directly in line with Europe‘s economic turmoil, and the Irish common folk are finding it extremely difficult to make ends meet with their current jobs.  The article pointed out an average couple.  The husband brought in money through disability and the wife by working at a supermarket.  Their combined incomes is barely enough to make their monthly installments of $1,373, while being $20,000 in arears.
In class we discussed Walmart and talked about how their wages were lower, on average, than its competitors.  This got me thinking; Should companies, in general, have to raise their employee wages to a figure that would allow their workers to meet all of their needs sufficiently?  If not, why?  If a worker isn’t able to afford transportation or a roof over their head, then how can companies expect to have any workers to operate the company to produce profits?  So to me, it seems like companies would be better off raising their workers’ wages, rather than deal with not being able to generate profits.

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5 Responses to Help me help you!

  1. Alyssa Haglund says:

    I completely agree with you Bryce! Not to mention Donaldson’s argument that companies have the duty to provide employees with the right to subsistence, which I think would include everything that you listed above!

  2. KCasty says:

    I do think that companies should raise the wages of their workers. If a person is working “full time” for a company, then they should be making at least enough to pay for the essentials in life — housing, food, and clothing. If they are not making enough to live off of, then what is the point of working?

    I also agree with you, Bryce, that a happy worker is a productive worker. It doesn’t take a research study to prove that if you have something that is causing you stress in your life, you are inevitably going to be distracted and unproductive. I think it’s safe to assume that not being able to put food on the table or a roof over your head is a stressful situation, and one that is going to cause employees to be unproductive. The company, in turn, is going to lose profits.

  3. ALXLIONS says:

    I think a possible alternative for companies not willing to raise their wages would be to provide benefits like company housing. I know this might not be possible but my friend who is a teacher in Connecticut doesn’t have the best salary but the school provides him housing at a discounted rate. This allows him to save a ton of money and he lives very close to where he works.

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