[MBA] Spend some time researching either the living wage or the comparable...
Spend some time researching either the living wage or the comparable worth issue and prepare a minimum of 100 words posting summary indicating whether you support the idea. Justify your position by citing and referencing the research you examined.
Living wage is defined as a subsistence wage that is sufficient to provide necessities and comforts essentials to a standard of life in a locality. Living wage depends on place and locality because the daily expenses vary from countries to countries. A report from Forbes states Kiev city of Ukraine being least expensive followed by Sofia, Bulgaria whereas Zurich and Geneva are most expensive ones (Forbes.com, 2015). Companies should provide wage sufficient to get quality of life so that employees could sustain and work well. UN, ILO and OAS have declarations and conventions stating minimum wage as fundamental rights. Most activist argue wage is not limited to compensation and labor but securing future and social stand is what to be achieved. Many countries have provisioned following ILO standard defining wage value tie up with national economic reports. Australia, Luxembourg and Belgium are on top of the list paying highest minimum wage while Germany and UK being on 9th and 10th position respectively (Petroff, 2015).
Although comparable worth and living wage are both regular issues on labor world and are equally important. From the research I found concept of living wage is more prevailing and comparable worth comes on second. What to compare and seek for if the wage level is not sufficient to achieve quality of life. An article from owner and CEO of Ice Cream company claims living wage is not for benefit of employees only but it should be justifiable on behalf of company nature too (Neitzel, 2014).
Forbes.com,. (2015). Can You Afford To Live In Your City? The World's Cheapest And Most Expensive Cities. Retrieved 7 October 2015, from http://www.forbes.com/sites/halahtouryalai/2015/09/19/can-you-afford-to-live-in-your-city-the-worlds-cheapest-and-most-expensive-cities/
Lepak, D., & Gowan, M. (2010).Human resource management: Managing employees for Competitive advantage. Upper Saddle River, NJ: Pearson Prentice Hall.
Neitzel, M. (2014). Why Living Wages are Important for My Workers, Business & the Community. U.S. Department of Labor Blog. Retrieved 7 October 2015, from https://blog.dol.gov/2014/12/04/why-living-wages-are-important-for-my-workers-business-the-community/
Petroff, A. (2015). This country has the best minimum wage in the world. CNNMoney. Retrieved 7 October 2015, from http://money.cnn.com/2015/05/14/pf/minimum-wage-countries-australia/