Business Quote by Tom Perez
“There's this notion out there - and it's a categorically false notion - that the only business model in the service industry is the minimum-wage business model. I say phooey to that. You go to a Costco store, and you see people there who've been working there for years and years. They're making $15, $20 an hour, plus health benefits.”
About This Quote
Source Speech: Interview, 2023, Business Forum
The service sector can pay well and offer benefits, disproving the belief that low wages are inevitable.
In simple terms: Good jobs exist in services with fair pay and benefits.
Key Takeaway
Recognize and support fair-wage service models.
Themes
labor
wages
benefits
service industry
economics
Mood
optimistic
pragmatic
Type
motivational
informative
When to use this quote
- retail management
- human resources
- policy advocacy
- career counseling
Key Concepts
human capital
fair compensation
employee retention
Questions to Reflect On
- How can businesses balance wages and prices?
- What policies help sustain fair wages?
A Different Perspective
Higher wages may increase costs for consumers.
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