Good afternoon every one, the business area of our project is minimum wages, the specific project topic is The Positive Aspects of Minimum Wage Law.
Nowadays, rent, transport fees and electricity bills are all on the rise and grassroots are difficult to maintain a decent living and have heavy financial burden on family.
Also, many people criticize that some employers had more tricks to exploit workers, which drives the salaries of low-skill workers are below $20 per hour. This is an unfair remuneration and welfare of employees.
In light of these, Hong Kong government enforced a law legislation to protect their income and welfare, which is minimum wage law.
The Statutory Minimum Wage comes into force on 1 May 2011 and the initial Statutory Minimum Wage rate is $28 per hour.
Although there is a general perception that the establishment of a minimum wages can only do harm to society, it can be a great benefit to society, employees and employers.
The implementation of minimum wage law can bring many positive aspects to Society, employees and businessmen.
Society
Reduce number of citizens who are living under poverty line
Narrow Hong Kong's wealth gap
Enhance social stability
Employees
Enforcement of the law is an effective way to protect their income
Provide steady income for employees,
Improve living quality,
Eliminate labor exploitation
Businessmen
Employees establish a strong sense of belonging to their companies
For long term benefit, their Working efficiency can be Enhanced and productivity can be Increased.
Many citizens want to raise the initial statutory minimum wage rate from $28 to $33.
$28 is a moderate minimum wage rate
If the initial statutory minimum wage increased to a higher level, which may bring some negative impacts
The increase in labour costs will ultimately be passed on to consumers resulting in unnecessary...