Question

Increasing the minimum wage is the most economically efficient way to benefit low wage workers.

Answer 1

Increasing the wages of workers will definitely benefit them. Its economically an efficient way to benefit them. Increasing the wages would initiate workers to earn more and they can live their livelihood in a better way.

Increasing wages would motivate the workers to work hard and this way they can be retained in any organization.

Now a days, workers are being paid what they should have been and its named after economic crisis. Employers make them work hard and do not pay their wages fairly. As a cause of thus, workers leave the job and then they had to face more crisis.

As wages are recommended to be increased, workers should also be trained to expertise and enhance themselves. This way they can increase their skills and contribute to the organization also. Increasing their salary then would not be thought useless to the organization. It will also increase the productivity in a business and reduce absenteeism and employee turnover.

If wages would be increased, consumer purchasing power will also increase which lead to increase the economy of the country. People would be leading a more comfortable life.

Increasing wages will also lead to increase in the GDP of the nation. Workers would feel that they are not being ignored by the organization, infact they are being privileged.

Therefore, it can be said that, wages should be increased but the target should be not only increasing wages of workers but also enhance their skills.