January 5, 1913
Henry Ford introduced the $5 work day.
Working on the assembly line was monotonous and there was much turnover among autoworkers. Desperate to stabilize his work force, Henry Ford shocks the industrial world by doubling the existing daily rate for assembly-line workers to five dollars per day. Ford also introduced profit-sharing for his workers, which his company modestly called “the greatest revolution in the matter of rewards for workers ever known in the industrial world.” The higher wages not only stabilized the workforce, but also guaranteed that Ford’s workers could more easily afford buying Ford cars.
Thank you Michigan Start Pages for this glimpse into our past. See more here.