But is this true?
The $15 minimum wage is equal to $30,000 a year for a full-time employee. "They're making millions while millions can't pay their bills", says a misfortunate union group, suggesting that there is a plenty of profit left over in corporate suitcases to fund a massive pay increase.
Actually, at least 90% of McDonald's locations are independently-owned by franchises that are not making that kind of money (millions). They have approximately 6 cents profit from each dollar after paying for the food, staff costs, and other expenses.
If you do a calculation and say the minimum wage is $15, then that wage will eat up three-quarters of the profit every year. And that is just the minimum wage. Most of the stores would not get any profit in doing so.
And if it was so easy to just add a bigger price to the meal in McDonald's, it would have been already done. In this world, customers are very notorious when it comes to a price increase.
In other parts of the world, in Europe to be more precise, there are self-service computer kiosks. In European countries, they have been a norm for over seven years now. And if we say that self-service computers do replace entry-level employees, and the minimum wage goes up, then there will be much fewer employees working for McDonald's. You can't really satisfy everyone...
It is hard to say whether the organizers behind the $15 minimum wage campaign are really supporting hourly workers or are doing so for their own purposes, and wallets. Walmart's smart business move
From our research, Walmart has been pulling some good moves recently with their college tuition
. They are giving their employees a push to evolve and gradually improve their skills. Walmart employees are generally happy working there.
Disney has also offered full college tuition for their hourly workers. And this is something really inspiring. If you, as a company, give support to your workers, they will be more satisfied and will work harder.