The concept of minimum wages is crucial for worker welfare and economic stability, especially when tied to inflation and cost-of-living indices. However, in practice, the challenges are immense. As someone deeply involved in employment linkage and workforce development, I’ve observed that the current minimum wage rates are simply too low to attract or retain skilled candidates.
Candidates often refuse jobs offering just the minimum wage, and even when motivated to join, they leave within a couple of months. This creates a significant challenge for industries struggling with high attrition and low retention rates.
To address this, we need a holistic approach where wages align with living standards and skill levels. It’s not just about filling job vacancies but building a sustainable, motivated, and skilled workforce that benefits everyone—employees, employers, and the economy.
This is a topic that demands collaboration between industries, policymakers, and training organizations. Let’s rethink and redesign our approach to wages and workforce management for a better future.
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