- The Trefis Team, made up of MIT engineers and Wall Street analysts, argues that although restaurant workers are deserving of better wages, raising the minimum wage now could hurt the restaurant industry.
- While a wage hike seems like it would be good, many argue against this move because it impacts the bottom line of each business, resulting in higher operating costs that are passed on to customers. Layoff's ensue when consumers stop doing business with these restaurants.
- Workers in the food and beverage industry are the lowest paid employees, as of May 2009 records. Some restaurant groups like Sonic, McDonald's, and Starbucks, are raising wages to retain a better workforce and thus, increase revenues.
The debate over whether to raise wages in the restaurant and hospitality market has been raging for years. Many states have already begun increasing minimum wages in keeping with legal requirements, so there is hope that these positions will offer more opportunities for career growth.
Companies that provide added benefits like educational support and generous time off can help create a better example for other restaurant groups to follow. While it's up to each business to find ways to manage operating costs, such as streamlining recruitment efforts and reducing food waste, this can only happen if they place more value on human capital.