The New Minimum Wage

The minimum wage is set to reach $20.00 per hour by 2021.  What are the risks, costs and unintended consequences for employers?  How do you do this in your company??  Where do you even start???

There is no single correct answer as each company will have to make this work within their own pay philosophy and structures. 

 

The following companies will share some of their thinking and how they intend resolving some of the problems they foresee. 

Speakers from McDonald's, Sanford, T&G Global, City Care and Accor Hotels share their thoughts and strategies for managing their labour cost over the next three years.

Then Assistant General Secretary of FIRST Union, Louisa Jones, will share the union’s thinking and strategy. 

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Some of the issues that require consideration:

  • How do you maintain wage scale relativity?
  • If you already pay above the new minimum in 2018, what should you be doing in 2019 and 2020?
  • If you flatten your pay curve at the bottom, how will this affect the supervisors and middle management pay scales?
  • Are we likely to see increased staff turnover as employees chase top dollar?
  • Should you stay at the new statuary minimums and consider one-off bonuses?
  • What if your company has a stated philosophy of not being a minimum wage employer and you can’t afford to comply with this given the new minimum wage regime?
  • How can you off-sett labour cost increases? 

 

The New Minimum Wage
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