The benefits of raising minimum wages

See this story where Ikea is raising their minimum wage again. Their facts belie the regressive spin on what happens when businesses do this. What are the benefits of so doing? Reduced turnover and better qualified candidates, which means "spending less on recruiting and training new replacements" and "likely helped the company lure more candidates." Presumably this leads to increased profits by providing better service. This is what happens when we share the wealth instead of hoarding it.