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More and more Americans are finding themselves in hourly paid jobs that don't pay especially well. The U.S. federal minimum wage is $7.25 per hour for nontipped employees, although some stateslike Ohio, where the wage is $8.85 per hourset higher minimums, and several states including Alaska, Florida, Colorado, and Maine, have approved legislation to automatically increase minimum wage rates based on the cost of living. That minimum wage may come with or without benefits such as health insurance and retirement programs.

For some employers, wages are viewed strictly as costs of production, and when it comes to costs, the tendency is to try and minimize or control them. The less you can pay for labor, the argument goes, the better off the bottom line is.

Whole Foods takes a different approach. It views business as a balancing act between owner-shareholders, customers, and employees as key stakeholders. Although the interest of each stakeholder is important, balance among all three is the goal. At Whole Foods, this concept is described as "conscious capitalism," and one of its characteristics is paying employees more than either the law or market conditions require. At the moment this is about $15.00 per hour, often with benefits. Although this may not sound great, it's twice the minimum wage and about $3.00 plus benefits more than what an average worker earns at Walmart, for example.

Whole Foods Chairman Walter Robb believes that paying more than the minimum and competitors builds a stronger and more committed workforce. The payoff from paying more than you have to is having workers who are loyal, stable, and good for customers.

Do the Analysis (500-word minimum) - Support your analysis with peer-reviewed articles

Thinking back to what you have learned about extrinsic motivation and perceived inequity, does higher pay improve employee motivation? What do we know about how the employees feel about their workplace? How could we learn more? Are there workplace factors other than pay that need to be considered?