In 1914, Henry Ford began paying his workers $5 per day, about twice the going wage. As a result, turnover and absenteeism fell and productivity and profits rose.

Henry Ford indeed doubled the daily wage of his workers to $5 in 1914, which was a significant increase from the prevailing wages at the time. This move led to a decrease in employee turnover and absenteeism, while productivity and company profits increased, demonstrating the effectiveness of his strategy in fostering a more stable and motivated workforce.