At least in the US, it send everybody's focused on getting $15/hr but what's the point in increasing you salary if the companies are going to just increase prices and higher wage means nothing? We should be talking about tying CXO and senior leadership salary to the lowest paid employee.
For example, lowest paid employee makes $20k a year? The total comp of the highest paid person at the company can only be 10x that, so $200k. CEO wants to get paid more? He needs to increase the salary of the lowest employee.