Australian Fair Trade Act - Case Study Example

Topic: Case Study on the Australian Fair Trade Act Name: xxxxxxxxxxx Professor: xxxxxxxxxxx Institution: xxxxxxxxxxx Course: xxxxxxxxxxx Date: xxxxxxxxxxx Introduction In this paper, an analysis of the postulations and the implementations that ought to be done so as to facilitate the attainment of fair trade practices and suitable minimum wages to the employees will be discussed. The Australian chamber of commerce and industry and the Australian council of trade unions have set forth a series of suggestions in relation the legal policies and strategies based on the need to set up the possible required minimum wages for the employees in the various trade organizations (Blanpain, 2009). The submissions of the trade unions or organization as regards the contemporary reward management in Australia will be made so as to assess their compliance with the decisions implemented by the fair work act and therefore lead to the economic development of the Australian nation. The Australian Council of Trade Union is a stakeholder organization that protects the needs of the employees Australia. With its submission, it postulates that there is need to have the minimum wages to be increased. It has asked the fair work Australia minimum wage panel to facilitate the increase in the minimum wage orders and the modern wage awards for the workers. The union states that the economy of Australia has recuperated from the downturn of the financial crisis and that there is therefore a need to have the employees’ minimum wages increased. This will imply that there is increase in the creation of the employment opportunities and reduction of the incidences of inflation. This has an implication that there is need put to an end the unemployment rates and therefore enable the lowly paid individuals to be in a position to meet their set goals (Bowden et al, 2009). The organization also facilitates the social links between the people in the nation; this has an insinuation that apart from the promotion of the economic development through the increase of the gross domestic product, the increase in the minimum wages to be offered to the individuals by the minimum wage panel will facilitate the development of good social links between them. The cooperative and national economic development will be facilitated through the legal facets of increasing minimum wages and therefore may lead to the national economic development. The principle of social inclusion and equal remuneration for the employees is also one of the legal facets that are stated in the ACTU so that the individuals can work harder, together with an aim of facilitating the economic development and employment growth (Gall, 2006). It is also noted that implementation of the minimum wages to the employees will make them to develop good links between themselves and the organizational management. This has an implication that decision making policies are done in an effective way and therefore lead to successful attainment of the organizational goals (CCH, 2009). The analysis of the economy of Australia indicates that there has been an increase in the economic development over the past years and thus the establishment of the minimum wages and awards to be given to the employees will also act as an invigoration or incentive for them to collectively work hard and aid in the development of the economy. The consumption, wages, productivity and the profits or the terms of trade will increase and also aid in the meeting of not only the needs of the huge organizations and the employees but also to the government as they get revenue from the taxes. The increase in the investments is also expected and will also lead to the attainment of the national economic and social goals. Submissions by the Australian Chamber of Commerce and Industry highlights on the support made by the legal intentions of the government and the minimum wage panel’ s proposal of increasing the minimum wages and awards to be given to the employees in the Australian nation. It also supports the need for having tribunal responsibilities that are legally based for the purpose of reviewing wages on yearly basis. Given that the chamber of commerce and industry is the largest stakeholder in terms of offering the job opportunities to the Australians. This means that all the individuals with very low wages are also included in this category; they are therefore also represented so that they can be in a position to meet their needs. The fact that there is a large membership in this organization means that the needs of the employees will have to be met by adhering to the decisions by the panel on increasing their minimum wages and reviewing the wages on an annual basis; after the end of every financial year. They therefore influence many decisions within an organization and even in the entire Australian economy (OECD, 2006). This organization has coordinated with its progenitors have consistently led to the revolution and continuous review of the wages given to the employees. A better relation between the employees and the creation of fair payment commission (Kramp, 2009) sees such achievement realized. This organization facilitates the evasion of the economy from the global financial crises by ensuring that the employees are paid well and that most of the individuals in the economy are employed. The annual reviews of the wages of the employees also play a significant role in the development of the economy, social relations and the general reduction of the unemployment. Productivity will definitely increase the profits and the terms of trade. The ACCI is very consistent in the implementation of the wage reviews on annual basis so as to protect the jobs for the people, increase the generation of revenue and enable the business organizations in Australia to respond to the global financial crises and average hours of working that reduced redundancy. It is noted that in a vibrant economy like that of the Australian nation, there are several changes that the individuals or the workers may be exposed to. For instance, the changes in the purchasing decisions as the time progresses and this is a clear indication of the fact that the financial sector of the economy has to be evaluated so as to reduce the uncertainty of the employees on their job security. This will enhance hard work and productivity gains in the various work places that the individuals might be employed. The social interactions will also be encouraged through the lobbying of the increase in the salaries or the wages for the low income earners and therefore strengthen their bargaining power. Thus the subsequent years will be gaining a lot of recognition and adherence to their pleas since they will be organized in groups with greater power (Borowaki et al, 2007). There is also a need to establish a transition to the modern awards so as to increase the employees’ morale and fair working relations at their respective places of work. The government and the minimum wage panel should consider facilitating the transition into the modern awards that will also reduce the job entitlements and therefore facilitate the increase in productivity but also reduce the costs involved. This is intended to increase the profit margins for the organizations and also for the general profitability of the nation’s economy through the continuous inflow of revenue. Though it has been previously noted that the provision of the modern awards in the retail sector, hospitality and tourism has led to the increased costs of employment, there are strategies to change this (Kramp, 2009). It is postulated that the modern awards be given to the employees based on the issues such as the holiday allowances, weekends and the shifts or the extensions. This means that a large number of the employees will be willing to work for a longer period of time which will eventually lead to the attainment of the economy’ s set goals. There are legislative measures and enforcements that ought to be adopted in order to facilitate the implementation of the modern award system for the employees in different trade unions or organizations (Borowaki et al, 2007). However, in spite of all the arrangements that are stipulated to be conducted, there is need to have reference to the economic progress of the Australian nation. The nation is said to have recorded a commendable increase in the economic growth. This is a clear indication that there is a possibility of attaining job security and continuity in job delivery and security as there are adequate funds and incoming revenue to cater for the modern award costs that are to be established. Reflection of the views from the decision of fair work Australia and their suitability consists of information contained in the submissions from the Australian chamber of commerce and industry and the Australian union of trade unions. They are well linked to the postulations and enforcements contained in the decision by the fair work Australia (Gall, 2006). The need to have the minimum wages for the employees reviewed on the annual basis is well documented. This clearly implies that the organizations concerned with the protection of the rights of the employees are united and therefore and aids in the development of the economy, meeting their needs and enhancing job security. The modern award system is also not forsaken by the fair work Australia and this is also a clear indication of the cohesiveness and comprehensiveness of the fair work policies and reference to the basic requirements that are affected when the modern awards and the minimum wages are set by the FWA. The statutory objectives are to be reviewed and all the activities aimed at facilitating good wage delivery and modern award system to the employees have to be considered in this case so as to promote economic prosperity (Bowden et al, 2009). How fair work Australia should respond to the requirements of the contemporary reward management is an aspect that has been considered for a long time. The fact that the global financial crises are considered and the issues relating to the changes in the consumer purchasing behaviors are also put in consideration makes it possible to have the policies included in the decision by the fair work Australia are vital. This is because they respond to the postulations presented by the contemporary reward management panel. This will lead to an increase in the economic development and job creation. This is suitable for any economy as there will be increased morale of the workers which will definitely lead to the increased profitability and good terms of trade; not only in the local trading activities but also in the international trading activities. I support the decision of the FWA as it highlights relevant and issues of significance to the employees, the economy and the nation at large. With the implementation of such issue, it is possible that the global financial crises can be avoided but the economic development can be improved and leads to improved living standards (Blanpain, 2009). Conclusion As it has been discussed, it is clear that the organization plays a significant role in facilitating the social links between the people in the nation. To an extent where an insinuation is incorporated by showing that apart from the promotion of the economic development, through the increase of the gross domestic product, the increase in the minimum wages to be offered to the individuals by the minimum wage panel will facilitate the development of good social links between them. It has also been concluded that the Australian Chamber of Commerce and Industry is very consistent in the implementation of the wage reviews on annual basis so as to protect the jobs for the people. It also do this for the purpose of increasing the generation of revenue and enabling the business organizations in Australia to respond to the global financial crises and average hours of working that reduced redundancy. Bibliography Blanpain, R 2009, The modernization of labour law and industrial relations in a comparative perspective Volume 70 of bulletin of comparative labour relations, Kluwer Law International, New Zealand. Borowaki, A 2007, Longevity and social change in Australia, UNSW Press, London. Bowden, B 2009, Work and strife in paradise, the history of labour relations in Queensland 1859-2009, Federation Press, Chicago. Carbaugh, R 2010, Fair work Australia-2010 wage annual review, ACCI submission publishers, Melbourne. Reid, N 2009, Australian fair work act, with regulations and rules, CCH Australia limited, New Zealand. Gall, G 2006, Union recognition, organizing and bargaining outcomes, Routledge publishers, New York. Hatch, W 2010, Australian council of trade unions submission to the fair work Australia, minimum wage panel, OECD Publishing, Melbourne. Hez, K 2010, Melbourne, 2010, FWA decision-annual wage review 2009-2010, ACCI submission publishers, Melbourne. Kramp, O 2009, Minimum wage legislation in Australia, GRIN Verlag publishers, London. Thorbecke, E 2006, Australia 2006 OECD economic surveys, OECD Publishing, New York. Read More