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TrendingDecember 31, 2021

Altruism and the Slick ways of Henry Ford

Henry Ford was a shrewd businessman, but it must take a lot of cunning to establish a world-famous brand like Ford Motors. In 1914, he doubled his employees’ pay from $2.25 to $5 daily. This wasn’t done out of the goodness of his heart, far from it.

The business required more workers, but the stress of the break-in period always took its toll on new workers, and many would quit, causing problems for the company’s production line. To remedy this, Ford hoped that the increased wages would reduce the turnover rate of his employees. It did!