Wage increase – TJ Maxx and Marshalls set to increase hiring wages

T.J. Maxx and Marshalls are following Walmart's lead by announcing they're raising their minimum hiring wage.

We’ve discussed many times whether a government mandated raise to the minimum wage is a good thing or not. Personally, I don’t believe it is. I do however, think it’s a great thing when businesses decides to do it themselves.

The government should not be telling you how to run your business but it does make good business sense.  If you’re a big box store making lots of money, it makes plenty of business sense to share the success with your employees. It's not only an incentive for employees to work harder, giving you an edge over the competition but it’s also great public relations move as well.

The downside of course, could be if the prices in these stores go up, the consumer winds up paying more. At least that’s the company's decision and not one that is forced upon them. Maybe some won’t mind paying a little more knowing that they people who work there are better taken care of.

What are your thoughts? Do you think companies should look to increase wages on their own?