...government should raise the minimum wage incrementally to cover the increased costs of living, increase productivity, and reduced turnover. BACKGROUND: The federal government began regulating wages with the Fair Labor Standards Act of 1938. This established a price floor of what we know to be minimum wage, it also defined the standard work week, and guaranteed time and a half for overtime hours. The original purpose of stabilizing the minimum wage was to, “protect all employees from any alterations in the economy” (Andrade). Currently 29 states and Washington D.C. have set their minimum wages above the federal minimum of $7.25. People argue that a high minimum wage hurts small businesses and inflates...
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...Smith, Advertising Department Supervisor From : Jason Vu, Advertising Associate Date : March 24, 2010 Re : New Approach for Extra Income As a consequence of the recent increase in minimum wages, there is an increase in the discretionary income of our current advertising base. People with more money tend to spend more. Our current advertising approach does not take this into consideration. This is a proposal to modify the approach in our advertising strategy so that we can take advantage of the coming shift in our advertising base and enhance our advertising revenue by expanding our potential client base. The rationale behind the proposal and its implementation will be elaborated in the following report. When people have achieved basic survival needs such as food, shelter, and relatively secured physical and financial safety, they seek to attain things that they haven’t yet possess, such as status symbols or a sense of belonging to an exclusive group. If we can encourage our existing advertisement consumers to spend their extra income, hence shift the demand of our current advertising base to consume more upscale products, then we stand to gain an expanded and more profitable set of ads buyers. This project is a market study in potential new products in which ads targeted for the new minimum wage consumers segment can be created. This project will determine the current advertising consumers’ income. The result of this project will be used in devising a strategy to create and...
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...Overview of the Federal Minimum Wage The Fair Labor Standards Act (FLSA), a law that guarantees employees and youth a fair minimum wage and overtime pay. It is regulated by the Wage and Hour Division (WHD) of the U.S. Department of Labor (DOL); it mandates employers to pay all nonexempt employees a federal minimum wage no less than the determine amount set by the government (U.S. DOL, 2011). Unfortunately, the federal minimum wage still sits at $7.25 per hour and has remained the same since George W. Bush signed a law to change it on July 24, 2009 (Risher, 2013; U.S. DOL, 2011). So, why did so many government officials decline the increase of the federal minimum wage and why do they fear the positive impact that the increase will have on America? This paper intends to briefly discuss six laws, all pertaining to federal minimum wage introduced to the House of Representatives within a year and highlight one member of the senate who disapproved the law for passing. In addition, this paper will briefly point out statements made about why some Senators chose to decline the bill; and finally, this paper intends to briefly explain any legal issues preventing the wage increase and implications for management. Start of Hope: Minimum Wage Fairness United States senators and representatives have introduced numerous federal minimum wage bills to the House of Representatives in order to amend the Fair Labor Standards Act (FLSA) during their term. These bills were designed to either...
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...Scope of Topic: Is a $15 minimum wage in large American cities fair to the affected businesses? On Nov 2014, San Francisco has voted to raise the minimum wage to $15 over a course of the next three years. This article intends to analyze the impact of the decision on businesses. The ripple effects of the wage hike are felt not just businesses that employ blue-collar workforce but also by larger corporations and the US economy as a whole. The wage hike is primarily aimed at providing economic stimulus to blue-collar workforce, who must live off their hourly wage. The article will be segmented into two parts – Fair and Unfair. Reasons that highlight both standpoints will be listed out and discussed in each segment. Fair to US Businesses Reduces employment and training costs. Employee turnover, ranging from 50 to 200%, is a serious problem among many businesses that employ a major chunk of the blue-collar workforce. (For example, an employer with annual turnover of 100% means that the firm is employing two different people for one position). All this translates to roughly 30 to 150% of yearly pay . Increases consumer spending due to increase in Purchasing Power Parity (PPP). Research undertaken by the federal government and also research agencies, indicates that wage hike results in approx. $50 B in spending. This increased spending can be captured by businesses in general. GDP grows by $22B , which leads to better business. Research by EPI, a research group funded...
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... One of the biggest issues that are going on today is should we raise the minimum wage? According to Bureau of Labor Statistics, “In 2011, 73.9 million American workers age 16 and over were paid at hourly rates, representing 59.1 percent of all wage and salary workers. Among those paid by the hour, 1.7 million earned exactly the prevailing Federal minimum wage of $7.25 per hour. About 2.2 million had wages below the minimum. Together, these 3.8 million workers with wages at or below the Federal minimum made up 5.2 percent of all hourly-paid workers” (Characteristics of Minimum Wage Workers In 2011, 2012). According to the data, there are very few people getting paid at or below the federal minimum wage. Yet, people are complaining that the current wages are not enough. With wages at the current state, people are still living in poverty. With the new Fair Minimum Wage Act of 2015 (H.R. 1010), the minimum wage will rise from $7.25 to $10.10. The debate is whether the increase in wage will either benefit everyone (employees and businesses) or will this increase have negative effects and create more issues instead of fixing them. Will we end up paying more to get less? Background Here is some history on H.R. 1010 or better known as the Fair Minimum Wage Act. “The federal minimum wage originated in the Fair Labor Standards Act (FLSA) signed by President Franklin Roosevelt on June 25, 1938. The law established a minimum wage of 25 cents per hour for all employees who produced products...
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...each. Each question should be a minimum of three paragraphs of academic information. PLEASE READ THE UNIT FIVE LECTURE PRIOR TO TAKING THIS TEST and REFER TO THE DEPARTMENT OF LABOR WEBSITE ON THE FLSA. * Refer the Unit Lectures, readings & resources and credible sources from the Library or internet to support your responses * Cite any information that you reword, restate or quote in accord with APA guidelines * It is highly advisable to first answer the questions in a Word document and then copy and paste into the exam * Grading rubric can be found in Course Information * Do not cut and paste from sources but use your own words based on the academic data. You can use quotes when you feel it is appropriate. When you quote, restate or reword you still need to cite the data. Safe Assign may be used to prevent plagiarism and to create opportunities to help students identify how to properly attribute sources Question One: Explain what the Job Analysis process is and why it is so important. Remember that the exams require two to three substantiate paragraphs. Research the question first and then answer the question with appropriate academic citations. The job analysis is a process conducted by HR used to identify and determine a particular jobs duties and requirements of that given job. It also identifies the importance of the duties for the given job. There are two components to the job analysis. The first is a written summary of the task requirements...
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...The Politically Incorrect Guide to Capitalism: A Summary Naomi Craig Mount Vernon Nazarene University The Politically Incorrect Guide to Capitalism: A Summary The Politically Incorrect Guide to Capitalism is a 2007 publication from Regenery Publishing, Inc., and written by Dr. Robert P. Murphy. The central idea of this work aims at dispelling myths and notions that capitalism is based on greed, and inherently evil. This aim of this report is to summarize the work of Dr. Murphy by providing a brief history of the author and recapping the major points of his book. Author’s Professional History Dr. Robert P. Murphy received his Bachelor of Arts in Economics from Hillsdale College in 1998, and his Ph.D. in 2003 from New York University (Institute for Energy Research, 2012). He was a college professor for nearly three years before pursuing his writing and research endeavors. He is a now senior fellow in business and economic studies at the Pacific Research Institute, an economist with the Institute for Energy Research, a research fellow with the Independent Institute, and an associated scholar with the Ludwig Von Mises Institute. In addition to the topic of this summary, he has written another book titled “The Politically Incorrect Guide to The Great Depression and The New Deal,” and regularly writes articles for financial publications including Forbes and Barron’s (Institute for Energy Research). Summary of Literature Dr. Murphy presents many commonly held...
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...Introduction Minimum wage refers to the lowest hourly, daily or monthly wage an employee is legally entitled to when working. Minimum wage is in effect in a range of different jurisdictions with differences in the views on the advantages and disadvantages being disputed by people. Supporters claim minimum wage increases the standard of living for workers whilst reducing poverty. Opposite views are that if it is high enough to be effective then it increases unemployment, particularly among workers who are inexperienced or handicap, thus harming the lesser skilled workers to benefit the better skilled workers The effect on employment rates due to minimum wage rates is a highly contested policy within economics. The introduction of minimum wage into the market can lead to competitive employers cutting employment; this depends on the rate of the wage rises require to comply with the current minimum wage according to the “standard textbook model”. Other models have also been suggested in which a decline in the employment rate may not occur and in fact employment may increase. During my research I found a wide range of literature on minimum wages, particularly on the effects of a minimum wage policy in place. Though a lot of informative research was concluding I also found the argument between weather the effects and positive of negative on employment, both sides of the disagreement present a large amount of information supporting the theories. Research before the 1990’s mostly...
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...The first minimum wage ever established in Ohio was set at $.25 an hour (about $4 now) in 1938 and today it is $7.25. The average cost of a house in 1938 was $4000 (about $64,500 now) and today it is $245,000. You may glance at these and think that the higher expenses aren’t bad, the minimum wage is also higher. Nevertheless, the average earnings for hard working citizens has not changed. Prices are increasing, but most people’s stipends aren’t. Consequently, they are having to pay greater sums to live while the minimum wage workers keep a relatively same ratio between receiving and spending. To solve this dilemma, the minimum wage should not be changed. In short, this would be the best solution to this obstacle. However, there is a plethora of things that could be done to better benefit the public rather than simply not changing the minimum wage and each of these solutions come with pros and cons. First off, raising the minimum wage would not make the lives of the people living off of minimum wage any better than they are now. The accent would devise a small amount of...
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...THE LIVING WAGE AND ITS EFFECT ON THE ECONOMY INTRODUCTION The topic of our study investigates the living wage and its effect on the economy. A survey will be distributed asking questions about wages, cost of living, and making ends meet. Our conclusions and recommendations on the topic of living wages will result from this survey. BACKGROUND The definition of living wage is “a term used to describe the minimum hourly wage necessary for a person to achieve some specific standard of living. This means a person working forty hours a week, ”should be able to afford housing, food, utilities, transportation, health care and recreation” at a basic level. (Wikipedia.org). Currently, a living wage is set by local municipalities based on a local cost of living assessment, and applies only to government employees and/or contractors. This is different from minimum wage, which is set by law through the Federal government. The federal minimum wage is the minimum amount that a worker can be paid an hour and this law applies to nearly all workers. In Michigan, the minimum wage is currently $7.40 an hour. Minimum wage does not always meet the requirements of a living wage. (Wikipedia.org). For example, in 2008, East Pointe, MI paid its employees a living wage of $10.40/hr , while Detroit, MI paid its employees and contractors $8.25/hr, both with health benefits in comparison to $7.40/hr Federal minimum wage.(laborstudies.wayne.edu/ According to the Economic Policy Institute...
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...COR 160 Essential Academic Writing Skills Individual Assignment 01 (January 2011 Presentation) Prepared by: *Lee Kuan Liang (Y1114698 ) Focus: Overall Comments Dear Student, While you have made a reasonably good effort at writing the Personal Response, you may consider working on improving your Summary. Some specific remarks discussing the good points and the comparatively weaker areas in your paper are marked below for your consideration. Additionally, we have noted some areas of text where language and/or grammar issues exist. Some pertinent language errors have been marked in blue font on your paper using the legend shown below. Please go through the paper to identify and correct any other similar errors. Noun: (n.) Pronoun: (pro.) Verb: (vb.) Preposition: (prep.) Articles: (art.) Spelling: (sp.) Punctuation: (punc.) Word Choice: (wc.) Sentence Structure: (ss.) Reference: COR 160 Essential Academic Writing Skills Question 1 (Summary) (It is a good idea to start by giving a clear picture to the readers as to what this summary is all about and where it comes from—i.e., the article and author details. You could also mention here that this article describes the struggles of migrant domestic workers (DWs) in Asia and the Middle East, to set the context correctly.) In the continent of Asia and (art.: the) Middle East, nearly one quarter of the migrant population is migrant (delete/redundant) domestic workers. During the...
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...Minimum wage in Hong Kong Table of Contents 1. Part 1: Minimum Wage law in Hong Kong 2 2. Introduction 2 3. Minimum Wage – Economic Theory 2 4. Introduction in Hong Kong – May 2010 3 5. Impacts – 15 months later 5 5.1. Employment 5 5.2. Firms profitability 6 5.3. Inflation 7 6. Economic cycle considerations 9 7. Part 2: Housing issues in Hong Kong 9 8. Introduction 9 9. Housing situation in Hong Kong 9 10. Housing Demand in Hong Kong 11 11. Housing supply in Hong Kong 14 12. The Current Government Policies 15 12.1. Policy 1: 15 12.2. Policy 2 16 12.3. Policy 3 16 13. Conclusion 17 14. Bibliography 18 Part 1: Minimum Wage law in Hong Kong Introduction The Hong Kong Government introduced of a Minimum Wage in Hong Kong in May 2011, in response to increased incomes disparity in the territory. It uses economic theory to predict certain impacts such as level of employment, profits of firms, inflation effect and potential positive effects on the economy in general. Minimum Wage – Economic Theory Economic theory tells us that when artificial price floors are introduced in the market, they force prices to remain above the level that balances supply and demand. The same is true with minimum wage; it raises the quantity of labor supplied and reduces the quantity of labor...
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...this booklet:• Part One outlines the new grievance and disciplinary procedures, the new ACAS Code of Practice and changes to Employment Tribunal procedures• Part Two outlines the main changes made to the National Minimum Wage (compensation, enforcement and powers of investigation) as well as new regulations aimed at better enforcing the NMW in relation to agency workers• Part Three considers the strengths and weaknesses of the so called “ASLEF Amendment” introduced in response to a European Court of Human Rights ruling that unions should be free to determine their own rules. http://www.ier.org.uk/publications/employment-act-2008 | Summary of the Employment Act 2008The Bill contains proposals to reform existing law covering industrial relations and employment protection. Key areas * Repeals the Employment Act 2002 (Dispute Resolution) Regulations 2004 which were intended to reduce employment litigation, but had unintended consequences in practice * The statutory dispute resolution procedures will be replaced by a new non-regulatory system; a package of measures to encourage early/informal resolution of employment disputes possibly with increased support for the involvement of Acas * Clarifies and strengthens the enforcement framework for the National Minimum Wage * Clarifies and strengthens employment agency standards to address some of the concerns about vulnerable workers * Changes the relevant labour law to ensure compliance with the European Court of Human Rights...
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... Keenan Gillespie (Student Number: 43271200) Table of Contents Executive Summary 3 The Evolution of HRM 4 Significance to the business model 4 Summary 5 The Employment Relationship 6 Overview 6 Evolving Frameworks and Models 6 Recommendations 7 Legal Context 8 Overview 8 National Legislation & its importance to Australian business 8 Impact of Legislation on the Business 9 Recommendations to Bytes Electrical 10 References 11 Bibliography 11 Executive Summary The purpose of this report is to identify the importance of strategic human resource management to Bytes Electrical. This role of strategical management in regards to a businesses most important assets – its employees, is heavily influenced by a number of stimuli outlined in this report, including the evolution of human resource management to what it is today, the employment relationship and the environment and legal context that the business must operate within. By outlining these influences on Bytes Electrical, this shall allow for the management team to clearly understand the importance of HRM in today’s context. The result of this report is to highlight and convey a summary of these influences and present a number of recommendations to Bytes electrical to ensure the continued and/or increased productivity and efficiency of the business. By presenting these recommendations it allows for the business to identify problem areas...
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...Minor League Baseball Wages Minor League Baseball seeks solution to poverty level wages 4/25/15 April 25, 2015 Mr. Michael Slagle ABC Corporation 2105 E Coliseum Blvd Hillsdale, IL 45642 Dear Mr. Slagle, Hello and thank you for giving me the opportunity to conduct this study on quick fixes in professional baseball. The study was conducted through a variety of online sources, as well as an interview with a current professional baseball player. This report shed a lot of light on this current issue as various ex-minor league baseball players are waiting to go to court with major league baseball representatives. They are representing all minor leaguer in fight for fair rights and wages. I’m submitting this to you, because minor league baseball players are being paid poverty-level wages for spending nearly 60 hours a week at the field. Their benefits compared to the major leagues makes seem like they’re two separate professions. I’m going to discuss how this lawsuit is just a quick fix for the bigger issue at hand. I will discuss in this report a long-term solution for minor leaguers and their rights. I appreciate the opportunity to conduct this research and am look forward to sharing my information with you. Evan VanSumeren II Executive Summary The findings in this research was designed to identify the short-term solution and to propose a long-term solution. The problem is minor league baseball players...
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