Recently, there have been many calls for the Government to implement a minimum wage.
Being in the workforce, I would definitely wish to see an improvement in the stagnating wage situation.
However, these high wages will not come free.
Employers would have to consider what they expect of employees who are paid this minimum wage. Higher business expenses will drive business owners to look into their cost and profit optimisation.
We have the Productivity and Innovation Credit as well as the Innovation and Capability Voucher schemes to try and help businesses improve their productivity through technology and optimise their companies' capability.
We also have the Workfare scheme to encourage workers to improve themselves and their skill sets to be more employable.
If all these incentives are used to good effect, workers should see an improvement in their wages, even without a minimum wage in place.
Let us give Singaporeans a greater push to encourage them to pursue lifelong learning and upgrade themselves to improve their earning ability.
Businesses should also take charge of themselves through real improvement of productivity.