“Old Bill” Suggests—
For thirty years the “white-collar” worker in the United States has been drawing the short straw in the distribution of income. He has had to maintain a standard of living only slightly below that of the owners of the business, educate his children, keep up appearances and save for a rainy day—on a salary that is often hardly more than that of the unskilled laborer.
The time is coming, unless we misjudge the economic trend, when the white-collar worker may be one of the most essential assets of a going business. Like a good stenographer, he is seldom appreciated until he has gone. Shrewd firms will meet improved business volume by better systems to increase the unit efficiency of the white-collar worker and by ample compensation for those employed.
When in doubt, raise “white-collar” salaries.
ROYAL F. MUNGER.
P.S. Pin this where the boss can see it. He will be money ahead during the next five years if he follows this advice.