Cost Quote by David Rolf
“When workers make more money, they respond by being more productive in their jobs and are less likely to leave, reducing turnover costs. This puts money in business' pockets, and workers also then have more money to spend in the local economy.”
About This Quote
Source Article: Economic Impact of Wage Increases, David Rolf, 2019
Higher wages boost productivity, lower turnover, and stimulate local economies.
In simple terms: Pay raises improve work and community.
Invest in fair wages.
Themes
Mood
Type
When to use this quote
- business budgeting
- HR strategy
- community development
Key Concepts
Questions to Reflect On
- How can businesses balance wages and profitability?
- What community benefits arise from higher wages?
Higher wages may raise costs for small firms.