BALTIMORE, MD — Labor is one of the biggest costs for a business.
So, why are two local companies excited about the idea of rising wage costs?
It's because they believe the benefit of a well-paid workforce outweighs the few dollars an hour in savings.
"I'm a high-wage employer, I think it gives me a lot of benefits in terms of recruiting, in terms of productivity, in terms of turnover. I know a lot of folks look at the pennies on the dollar increase of oh my costs are going up but I look at it as an investment," said Aaron Seyedian, the owner of Well Paid Maids.
"The more money our consumers have, the more they'll spend in our stores. So that seems a little selfish but I also think that extends to all the small businesses in our community and I want our consumers to feel like or be also consumers in our community," said Gina Schaefer, owner of A Few Cool Hardware stores.
Aaron Seyedian pays his employees a minimum of $24 an hour, while Gina Schaefer's employees at her hardware stores make a minimum of $17.50.
That's before this increase even goes into effect.
"For me, this has been a tool to grow my business and growing my business is what at the end of the day makes me more money. You know there are always things you can do to save money in the short term and a lot of them aren't a good idea," said Seyedian.
The employers say it gives them a leg up in keeping employees working for them and recruiting new ones.
Maryland's minimum wage jump was expected to happen in 2025, but the Moore-Miller Administration pushed for it to accelerate to 2024.
A measure to tie it to inflation failed in the legislature.
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