When Henry Ford doubled the pay of his employees

In 1914, when Henry Ford doubled the pay of his employees from $2.25 per day to $5 per day, he did not do it for altruistic reasons. He did it to keep his employee turnover rate low. Ford needed to hire over 52,000 men for a workforce of only 14,000. New workers required a long break-in period and many would quit, which proved costly for the company's production line. Increasing their wages fixed the problem.