In 1914, along with the addition of the assembly Line, Ford announced his boldest plan that stunned the nation. He introduced a $5 per-day wage for an eight hour day, the standard of this time period was $2.34 for a nine hour day. This is equivalent to $110 per day in 2011, which is still higher than the present day minimum wage. He also offered and introduced the idea of profit sharing for employees who stayed with the Ford Motor Company for six months and conducted their lives in a respectable manner. Both the ideas of cutting hours and increasing pay along with profit sharing were unheard of during the Gilded Age. Ford introduced this plan to create a strong workforce loyal to the company and he did just that over night. The high turnover rates quickly disappeared and Ford had created a dedicated workforce that would allow Ford Motor Company to continue to be the nation number one selling car
In 1914, along with the addition of the assembly Line, Ford announced his boldest plan that stunned the nation. He introduced a $5 per-day wage for an eight hour day, the standard of this time period was $2.34 for a nine hour day. This is equivalent to $110 per day in 2011, which is still higher than the present day minimum wage. He also offered and introduced the idea of profit sharing for employees who stayed with the Ford Motor Company for six months and conducted their lives in a respectable manner. Both the ideas of cutting hours and increasing pay along with profit sharing were unheard of during the Gilded Age. Ford introduced this plan to create a strong workforce loyal to the company and he did just that over night. The high turnover rates quickly disappeared and Ford had created a dedicated workforce that would allow Ford Motor Company to continue to be the nation number one selling car