Welcome to the Small Business Rundown. Each day, we bring you stories that impact small business owners and their workforce.
Small Business News Highlights for June 17:
- Target raises minimum wage to $15, promises bonus for coronavirus workers
- Employers don’t want to lose working parents who are hitting a wall
- ACLU files suit against PPP for exclusion of SBOs with criminal records
Target raises minimum wage to $15
“The change in minimum wage will effectively give a raise to about 275,000 of its employees. Employees in some cities, such as New York City and San Francisco, already had wages of at least $15 an hour.”
Target announced that it will raise its minimum wage to $15, effective on July 5. The wage increase applies to associates at both retail and distribution centers and makes permanent the temporary wage increase that started in response to employees working throughout the COVID-19 pandemic.
In addition to $15 dollars per hour, the chain is paying hourly workers a one-time bonus of $200 and extending certain pandemic-related benefits through the month of August.
Work-from-home employees with children are struggling
“I don’t think there’s a day that’s passed that I haven’t heard concern about talent drain because in this period, traditional assumptions have flown out the window.”
As work-from-home employees with children struggle to keep multiple balls in the air, employers are taking note and looking for ways to keep valuable talent from quitting. While both men and women feel the stress of the situation, a recent survey found that women are spending 71.5 hours on childcare and household chores each week — in addition to their paying job.
Many states have not determined if schools and childcare will be open in the fall, leaving both employees and employers in limbo and scrambling to come up with ways to help workers who are already exhausted from the grind of balancing home and work against the constraints of the pandemic.
ACLU files suit against PPP
“The SBA’s role is to support the success of small businesses, not to impose rules based on uninformed and discriminatory value judgments on their worthiness to receive support.”
The group claims that the rule against lending to business owners with a criminal record is “arbitrary” and “unlawful” and that it excludes a disproportionate number of people of color.