Navigating the Minimum Wage Increase

Stephanie Bailey

VP of Finance & CFO at Goodwill Industries of Central Oklahoma

Learning Objectives

With a business model that focuses on training and employment for disadvantaged populations, Goodwill organizations across the country have faced steep shallenges when working to increase minimum wage levels, both by state mandate and voluntarily. With the prospect of new federally-mandated increases to minimum wage, it is critical to evaluate the impact this could have on your business. In this presentation, we will consider ways to quantify the potential effect of wage increases and wage compression on your financial position, your employees, your overall business functions, and your community. We will look at tools you can use for forecasting the impact over time and ways Goodwill organizations have invested in technology to help support walking minimum wage levels up.

Key Takeaways:

  • Key considerations for moving your wages up

  • Tools for measuring the impact of minimum wage increases and wage compression

  • Impact on your business, your employees, and your community