Pennsylvania-based home improvement company West Shore Home today announced it has established a company-wide $15 minimum wage—more than doubling the current federal minimum wage of $7.25.
The decision to boost wages is one long in the works, according to a statement released by the company.
"This is an initiative we started years ago, and it’s one I’m thrilled to say that we build upon today," said the company's founder and CEO B.J. Werzyn. "Our core purpose is to bring happiness to every home. We believe that begins within our own team.”
Since 2018, West Shore Home has grown from two to 20 locations and $20 million to over $500 million in annual revenue. Further in the company's announcement, Alexa DeMedal, who heads integrations, is quoted alluded to the impact the company's rapid expansion has played in influencing higher pay.
“In every instance, we speak to our new teammates on day one and say, ‘First things first, here’s a pay raise’,” says DeMedal. “It puts them at ease because they know immediately we are committed to them and gives them the freedom to invest in their new roles with West Shore Home.”
Understanding that West Shore Home's growth has been at least in part made possible by an influx of private equity investment, this is one example of the potential impact those types of investors can have on employees in the remodeling industry.
What kind of raises are we talking about?
To understand just what this means for workers in the 10 states in which the home improvement company operates, we did a side-by-side comparison to see the potential gains of someone moving from a state minimum wage to West Shore Home's.
Even in the least impacted state Florida, where current minimum wage is $8.65, the West Shore Home bump accounts for a gross annual gain of $11,557. Against Georgia's $5.15 minimum wage—the lowest in the country alongside Wyoming, which has the same rate—the increase is $17,927. That means the workers annual earnings before taxes would effectively triple.