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1.Critically evaluate if the National Minimum Wage (NMW) have an effect on business performance and increase reward grades - Essay Example

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Other analysts argue that with an increase in the National Minimum Wage (NMW) there is a great likelihood that the employers will…
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1.Critically evaluate if the National Minimum Wage (NMW) have an effect on business performance and increase reward grades
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Extract of sample "1.Critically evaluate if the National Minimum Wage (NMW) have an effect on business performance and increase reward grades"

Download file to see previous pages They continue to argue that with the introduction of this wage, a great percentage of human labor has been replaced by machinery since the employers attest to the fact that inclusion of the employees in the workplace has become extremely expensive due to the costs that come from reinstatement of wages to the employees. However, other analysts differ with this argument arguing that the wage has increased employee performance in the workplace.
In the research carried out by Dickens & Manning (pp.95), the National minimum wage (NMW) has acted as a foundation in which employers can offer proper pay to their employees. This works by virtue of the wage being in a position to manage the increases in wages and controlling all aspects that may lead to cutting down of costs. The National minimum wage (NMW), on the other hand also attempts to be at par with the changes that take place in relation to employees and the wage rates. Nevertheless, other analysts argue that it is extremely tasking for employers to deal with the task of adjusting to the tough economic conditions and dealing with demands of the National Minimum Wage (NMW) as imposed by the government. This essay shall attempt to analyze the National Minimum Wage (NMW) and the effect on business performance and increase reward grades.
The major aim of the National Minimum Wage (NMW) is to reduce poverty rates in UK. This is according to research conducted by Dickens & Manning (pp.95), who indicate that with the National Minimum Wage (NMW) the employees have no option but to work in their workplaces or risk being unemployed. In this case, therefore, employees do not want to risk getting into the labor market that does not allow for easy entry into the market; thus, give the best that they can manage whilst in their current jobs.
With proper distribution of income in the market, Arrowsmith et al, (pp.435) indicate that there are high chances that individuals will be ...Download file to see next pagesRead More
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