Question

Each year,the fair Work commission conducts a review of minimum wages.Stakeholders have the opportunity to provide a written submission for consideration in the minimum wage review. You are required to prepare a submission from the perspective of employers for consideration in the 2019/20 Annual wage review.The submission should

. Clearly state what increase you are recommending

. Be justified with evidence

.include a critique. This requires you to identify the best possible argument which could raised in opposition to your position and for you to refute the argument.

Answer 1

1) A 5% increase in minimum wages can be one of the recommendation by the employer to the stakeholders and the labor as well. This can be dependent on the company's performance.

2) The 5% hike is basically from the profit that the company would be making. If the compnay is making an X amount of profit. Hence the stake holders will be receiving and amount which is 5% of X each.

3) Various crtique that can be a question raised are the viability of profits. What if the company does not have enough profit, in that case giving 5% to each employee out of that profit would lead to the company having no savings. The other question can, what if loss is incurred, the stakeholders in that case will suffer.