Minimum wage is an issue that we, as a nation, handle very poorly. It is time for the government to rethink how it sets minimum wage to ensure that the general public is able to afford basic living requirements.
Our current system, which involves industry-specific wage boards, is extremely inefficient and bureaucratic. Often, the wages set by these boards do not provide enough for workers to get by on a month-to-month basis.
Additionally, in keeping things industry-specific, many workers get overlooked when some industries are not provided with any directives at all regarding a minimum wage.
In those overlooked industries, unscrupulous employers continue to take advantage of workers, denying them appropriate remuneration in poor work environments.
The current system must be replaced with something that is more viable and provides a much-needed boost to improvement in the nation’s income disparities.
The country should take a more holistic approach to minimum wage.
It may be more beneficial to our workers for us to implement a nation or division-wide minimum wage that accurately takes into account living costs. Such a system would provide the added benefit of being applicable across all industries to ensure that all workers are actually provided with their due.
This kind of policy would also benefit the economy as a whole. Increased disposable income and savings in the economy could potentially be a driver for economic growth.
As the issue of minimum wage has recently taken centre-stage, this is when we must push to affect meaningful change.
