Many of us do not comprehend what it means to be part of a minority group. This post was an eye opener for me and bonus, there is a great book recommendation here too.
In 1913, Henry Ford started paying his workers $5 per day, a huge amount for the time and a more than 100% raise from what they were previously earning. It’s seen as a milestone in modern capitalism, the moment when employers realized that workers were also consumers, that raising their wages created a generation that would buy as well as work.
Last week in London I randomly read The Greatest Business Decisions of All Time, which has a chapter on Ford’s decision and some of the unsightly details of how he rolled it out.
It came with some strings attached. The headline pay was divided into two parts: wages (about $2.40 per day for an unskilled worker) and “profits” (about $2.60 per day). All workers received wages for their work at Highland Park, but they shared in the profits only if they were deemed worthy. Six months’ service was…
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