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Adjust the minimum wage to two thirds the average wage.
Such a policy would enforce true market forces in the Labour market. If the average wage drops, the minimum wage drops. If the average wage rises, the minimum wage rises. At present the minimum wage is an arbitrarily imposed amount. Without a minimum wage, employers can arbitrarily pay as little as possible.
Do you like this suggestion?
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Philip Wilkinson commented 2016-12-07 13:41:15 +1300A true free market structure would have no minimum wage.
At the moment I need to pay more to get people but 5 years ago I would have employed more people if I could have paid them less… at the moment if times get tough you have to make people redundant instead of sharing the pain.. -
Philip Wilkinson tagged this with low priority 2016-12-07 13:41:15 +1300
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Alan Dawn commented 2016-11-26 20:01:00 +1300Reward for work has to be related to skills and productivity. Surely better to facilitate training and up-skilling to improve productivity and compete with the rest of the world.
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Alan Dawn tagged this with dislike 2016-11-26 20:01:00 +1300
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Tim O’Donnell commented 2016-11-26 18:50:57 +1300Would this decrease the chance of wage rises in the belief it would inadvertantly increase the rest of your wage bill? As this comes into effect it would increase the average wage due to the increase in the minimum wage. Like the intent but not sure hoe it would works. You could use a similar formula to publc companies for the top salaries & bonuses
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Tim O’Donnell tagged this with interesting 2016-11-26 18:50:57 +1300
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Lemon47 💊 tagged this with interesting 2016-11-26 17:47:10 +1300 -
