Ever since the new tax bill went through, many companies have been reinvesting those tax break monies back into their businesses to improve processes and procedures, create new products/services, provide bonuses/raises for employees, and much more.
The banking industry is no different, as it's been reported more than 40 banks nationwide have increased their minimum wage to $15 per hour. On the surface, it looks like a good thing. But what is this wage increase's effect on the rest of the financial services industry -- let alone those banks?
We invited BalanceComp CEO Christie Summerville on the show to explain how it will impact banks and credit unions, as more and more are following suit to attract and keep their prized employees. Christie provides the pros and cons of this move, along with some sage advice on what to do in the meantime.
Check it out and let us know your thoughts.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.