Hard Rock International Spending $100M to Better Compensate Non-Tipped US Workers

Hard John Rock International, the proprietor and operator of its namesake restaurants, casinos, and resorts, is upping its employee overhead by $100 meg for its US workforce.

In an sweat to aid workers offset some of the rising costs of workaday life, Hard Rock announced Monday that it will conjure US payoff for around 10K non-tipped workers. The pay off growth is most beneficial to lower-level staffers.

With Hard Rock’s change, starting hourly salaries for all workers in the US will begin at $18 an hour, with a $21 per 60 minutes minimum earnings inwards markets where the be of living is significantly higher than the national average.

While the compensate raises hold mostly to hourly non-tipped workers, Hard Rock says some salaried team members will also reckon their compensation improve.

We looked at all the starting salaries of all our frontline employees, certainly recognizing the economical conditions that hold been going on. We just now wanted to ut something to really facilitate come out and demonstrate hold to our employees,” explained Jim Allen, chairman and CEO of Hard John Rock International.

“We’re trying to encounter the highest character employees, thanking them for their efforts and recognizing that with compensation,” Allen Stewart Konigsberg added.

Hard John Rock is owned by the Seminole Tribe of Florida. Hard Rock has 265 locations inward 70 countries.

Inflation Increments

The federal official Reserve is desperately trying to curb bit skyrocketing inflation by increasing interest rates. The consensus legal opinion among economists is that the government’s central bank building testament soon conjure up rates once more past 75 foundation points.

Though previous stake hikes seemingly helped stand inflation increases — the US Bureau of Labor Statistics reporting a plane indication inward July — higher borrowing costs didn’t slacken consumers in August.

The Consumer Leontyne Price Index (CPI) revealed today that “all items indexed” increased past 8.3% year-over-year inwards Aug 2022. The indicator monitors the prices of all goods and services purchased for use of goods and services past urban households. The administration calculates its indicant based on 75 urban areas throughout the state based on 23K retail and table service establishments. Rent information is self-collected from to a greater extent than 50K landlords and tenants.

Hard Rock’s unexampled $18 an time of day lower limit starting line is 2.5 times higher than the federal minimum wage of $7.25 an hour. It also exceeds every commonwealth lower limit remuneration where Hard Rock operates.

Substantial Benefit

In New Jersey, where Hard John Rock Atlantic City employs to a greater extent than 3,700 people, the country lower limit salary is $13 an time of day — ane of the highest inwards the nation. New Jersey’s lower limit wage is linked to the CPI and increases on with the inflation rate.

With the CPI continuing to climb, New Jersey’s lower limit wage could live northward of $14 an hr next year. The New island of Jersey Department of Labor & Workforce Development testament announce the net charge per unit on or before September 30.

But still if New Jersey’s lower limit salary workers assure their pay off elevated to $14 an hour, casino workers at Hard John Rock will puddle at least $4 to a greater extent an hour. On a 40-hour act schedule, that equates to a difference of around $8,320 a year.

Allen believes that will assist Hard Rock keep its squad members and trim turnover.