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…
View original post 458 more words