Will minimum wage laws work here?

[oldbreadstinks]

It is basically capitalism. Business owners would want to pay as much less as possible. It's their business. Of course, they would want more money from their business. There are also no source or facts backing that minimum wage is effective except that there are countries doing it.

Naturally which is why foreign workers must be kept out of here.

 

[oldbreadstinks]

yes, i agree, but from an employee's viewpoint.

from a boss viewpoint, I am concerned with my expansion, my growth, my profits, and it will affect me negatively. So i will want to lobby against it.

Why are you expanding if you can't pay for staff and expansion.

 

[oldbreadstinks]

no. You are basically just assuming that you know the market forces. It is something which you and I cannot determine. Companies can also pay lower than the rate when no minimum wage is enforced.

Companies are already exploiting sinkies by offering lower pay.

Min wage law is suppose to correct that.

 

[stupidest_idiot]

Actually, I dare say, many of these 'SG do not want' jobs, are because of the freaking low pay, not because they do not want to do.

exactly.

in australia all construction workers/miners are locals.

its hard work but relatively stress free.. money is good too.

 

[oldbreadstinks]

I agree with you that cost is involve to take into consideration when you intend to make a move. And it does not make sense to shift your business to the next unit just because it is cheaper but have to redo stuffs like renovations & etc.

However if we are taking about a larger scale like you already expend your MNC company in another country where you already have plant, stuffs & etc in that country. Will you consider to close your business in Singapore & shift everything over to that country where your have your smooth operation there for years due to lower operation cost to bring up profit margins?

Singapore is not cheap. That is something that goes without saying for people who want to do business here.

If that is not considered by now something is wrong with whoever is in charge in the last two decades when they moved here.

You dont come to singapore and expect third world quality . Workers here actually work compared to if you were to hire a native in our neighborhood . You need to hire a whole gang to do the same work done by one man here. Elsewhere hiring a whole gang means having one of them drive the rest aimlessly around .
And employers are protected by the laws here.

If cost of the lower segment is an issue and you rather hire cheaper foreigners . You can rightfully be considered a leech. For exploiting the benefits of our laws and not contributing to our society.

If you're a local pmet who thinks the workers in sg should be open to exploitation . Years of saying the pledge have failed . You dont seem to understand equality .

Like the trash who proclaim scandinavian countries are great and yet dont try to move in that direction when protecting your own rights while trampling on others.




Do you know why philippines is a slum and her people are considered trash here?
Because her people like to talk and talk and talk about equality , skill of her people as a workforce. Great culture.
but when it comes to drawing the line they run off to the first western nation that would take .them for a better life .refuse to think and do and support movements to better their lives in the philippines .
And they want to enjoy life as a first world person . Despite what some here have said, i think a number of them do have the skills to provide to be useful in any economy .
But they are not the people you want with you. They look upon their poor as scums to be snuffed out , yes for those who actually did the apalling act of cheering when they got hit by a typhoon, the rich pinoys cheered louder. They rather leave than stay to help.
They are.the first to protest against.corruption ,and the first to offer a bribe.

Min wage there didnt help at all when her own people adopt a mindset like yours.

What we get from the miw

"You die your problem"

 

[oldbreadstinks]

Sorry, i don't understand this part.

1) Min wage is for who?

2) Are you trying to tell me that those who have mid & high skill will have a higher min wage compare to low skill?

Do you even understand the concept of min wage as a means to combat exploitation of the lower classes?

 

[oldbreadstinks]

If old lee start min wage from the start, investor will take this into consideration for the cost before they start a business in operation. Investor will give min wage because it is a norm & market tend. However this is not the case & I think it is too late to implement min wage. You want the employer to increase their operation cost when some of them are no earning profit or very little profit during this economic uncertainty period? Sure they will KPKB.

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If you are pay $2K for this job but when you work for awhile, they decrease your salary to $1K, sure you will KPKB & may change another job. If you pay you $1K from the start, you will not KPKB.

Thats exploitation , which is why we need min wage. And the situation is not because of 2k but people getting paid $600 . And they need more.

 

[brylimme]

Straits Times Forum - Drawbacks of minimum wage

Straits Times Forum


It hurts those it's supposed to help

I CONCUR with Deputy Prime Minister Tharman Shanmugaratnam that we should not implement a minimum wage ("'It takes time before gains can be seen'"; last Saturday). Wages should be dictated by free market forces, which are some of the most effective arbiters of productivity, competitiveness and sustainable results.

Implementing a minimum wage will affect small and medium-sized enterprises, in particular, as they compete with their rivals in similar economies.

If the minimum wage is not in line with productivity and results, it will increase their overheads unnecessarily. As a result, they will become less competitive, leading to a reduction in their demand for human resources. This is a vicious circle that will ultimately hurt the lower-skilled workers the minimum wage model is supposed to protect.

Also, it may lead to the introduction of unemployment welfare programmes that further erode our economic competitiveness. A minimum wage model will be difficult to withdraw once it is implemented.

Perhaps the more important focus is to increase workers' productivity through more training, job enhancement programmes and productivity improvement tools.

At the same time, the Government can continue to fine-tune the Workfare scheme and foreign worker levy for different sectors, in response to market changes. These are indirect ways to help workers who need the most assistance and to calibrate an equitable wage level.

In short, the current system can be enhanced to achieve the same positive outcomes without the downsides of a minimum wage system.

Patrick Liew Siow Gian

 

[Yueming]

then everything should be subject to free market forces as well



for example, employment passes should be subject to open bids from companies.

the highest bids that are offering the highest salaries get the permit.

 

[Empiricism]

One of the issues with allowing the market to run its course is that it will be vulnerable to market failure. One such scenario will be where firms underpay their workers, especially the low skilled.

In economics, if firms underpay workers, it contributes to allocative inefficiency and deadweight loss. The reverse whereby workers are overpaid also holds true.

Our current situation is such that low skilled workers are severely underpaid, so much that they have difficulty coping with surviving on such meagre salary. By implementing a minimum wage, it ensures that the low skilled workers are not being exploited, and that the market is Pareto efficient.

 

[chesterqw]

in short, all the greedy bosses will not be able to afford their luxury goods if minimum wages is implemented lar.

 

[tatsit]

Gian moi Siow

 

[Empiricism]

in short, all the greedy bosses will not be able to afford their luxury goods if minimum wages is implemented lar.

Businesses are generally concerned about operating expenses, which consist of both fixed cost and variable cost.

The letter fails to highlight one of the core issues that contributes to high fixed cost: RENTAL. If rental could be reduced, then firms will have the incentive to pay their workers better salary.

Furthermore, increase in wages will cause a substituition effect where firms channel more spendings into capital, resulting in better productivity in the long run.

If all fails, we shouldn't be too concerned about businesses shutting down. In economic history, firms that are inefficient will be forced to close when the marginal revenue is unable to cover total cost, paving the way for efficient (and financially viable) firms to stay in the market. It will also means that manpower is freed up to be allocated to the more efficient sectors in the economy.

 

[Zimpleman]

Straits Times Forum


It hurts those it's supposed to help

I CONCUR with Deputy Prime Minister Tharman Shanmugaratnam that we should not implement a minimum wage ("'It takes time before gains can be seen'"; last Saturday). Wages should be dictated by free market forces, which are some of the most effective arbiters of productivity, competitiveness and sustainable results.

Implementing a minimum wage will affect small and medium-sized enterprises, in particular, as they compete with their rivals in similar economies.

If the minimum wage is not in line with productivity and results, it will increase their overheads unnecessarily. As a result, they will become less competitive, leading to a reduction in their demand for human resources. This is a vicious circle that will ultimately hurt the lower-skilled workers the minimum wage model is supposed to protect.

Also, it may lead to the introduction of unemployment welfare programmes that further erode our economic competitiveness. A minimum wage model will be difficult to withdraw once it is implemented.

Perhaps the more important focus is to increase workers' productivity through more training, job enhancement programmes and productivity improvement tools.

At the same time, the Government can continue to fine-tune the Workfare scheme and foreign worker levy for different sectors, in response to market changes. These are indirect ways to help workers who need the most assistance and to calibrate an equitable wage level.

In short, the current system can be enhanced to achieve the same positive outcomes without the downsides of a minimum wage system.

Patrick Liew Siow Gian

Hi pple n good morning, so Pat's trying 2 say dat MOM guideline 4 min wage in FT is 2 hurt dem, or is there mor 2 his logic. Wat manifestation of statistic again did tis theory derive from, an incubation of spoiled ideas, giving life form 2 dead matters. Wif their 100 types of Helps, none sims 2 b able 2 eradicate our society but yet increase our poverty. Simply marvelous, jus print n walla tis works, same s achivement n benefits 4 all, n GST is 2 help d poor, Again. Hav a wonderful day fellas.

 

[MoyoCase]

this article is stupid. min wage will esnure that people will not choose not to do certain jobs. it will result in efficient manpower allocation.

 

[blong]

Where in Singapore got open market one? All controlled by govt and friends wor.

 

[klap_hanz]

this Patrick guy doesn't have any unique views of his own imo...he is juz parroting whatever the pappy have oreadi said in his post....puuuiiiii la !!!

 

[satayxp]

Management Team

Mr Liew is the Chairman and Chief Executive Officer of HSR Global Limited (“HSR”and together with its subsidiaries, the “Group”) and was appointed to the Board of Directors (the “Board”) of HSR on 19 January 2011.

ppty agent rah

 

[Sofero]

Before HK implement min wage, also many pp kpkp. now implement for so many months liao, did businesses go bust? did their economy cui because of min wage? No what! This is Whining-corporate style!

 

[_dXter]

So no means to prevent employees from being exploited~