Taking a Look at Minimum Wage

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Since employers are paying more money, they expected that their employees would increase both products’ quality and quantity. The businesses would concern about their employees’ ability by training their employees to be able to work more efficient. The businesses upgrade their employees, especially entry-level employees, to increase product’s quantity. In this case, the businesses tend to use technology, including robots and machines, to decrease the number of employees, and use their upgraded employees to work with the new technology. Upgrading own employees affect to labor markets because there would be fewer jobs that are offers in the markets. As a result, more people, especially entry-level people, have a difficulty to have a new job. However, this negative effect encourages currently employees to work harder because they do not want to lose their jobs. In addition, a situation, when employees have more money to buy their needs to support their family and themselves, would reduce employees’ worry and stress about their family, so the employees’ performances and efforts for their company would increase. Decreasing the number of new employees would reduce a turnover rate, a rate at which an employer loses employees. Generally, employees decide to turnover because other company offers them with higher salary and a better chance to improve their performance. The cost of employee turnover could cause up to 150% of their employment annually salary, which is estimated from

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