The Impact of Minimum Wage Increases on Pay Equity - Recording

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The possibility of a federal minimum wage increase is a red-hot topic in HR right now. Although a provision to raise the minimum wage to $15/hour by 2025 failed to pass Congress in March 2021, the issue is not resolved. The federal minimum wage is currently $7.25 and hasn’t increased since 2009. Even if the federal minimum wage does not increase, businesses may elect to raise the minimum wage for their organizations, which will impact talent markets.

The focus of this panel is to discuss how a hike in the federal minimum wage will impact employees, employers, and labor markets, with special attention to compensation and pay equity and what steps organizations should be taking to prepare and remain competitive. This panel will bring together subject matter experts representing different perspectives on this issue: the economy, employment law, corporate culture, and compensation management.

We will also share new data from employers on the minimum wage question, such as:

• What are employers most concerned about when it comes to raising the minimum wage?
• What do employers think is the right amount to raise the federal minimum wage to?
• Even if legislation fails, will employers increase the minimum wage at their organization in 2021?

Join Amy Stewart, senior content marketing manager, Emma van Inwegen, research scientist -- economics & labor policy, Christos Makridis, research scientist – economics & employment culture, Elizabeth (Liz) Brown, general counsel, Jennifer Kletke, HR director, and Heather Krechmer, compensation consultant for a panel discussion on the impact of raising the minimum wage on compensation management and employee engagement