Minimum Wage: Analysis, Recommendations and Contemporary Reward Management

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Minimum Wage
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Minimum Wage 2
Executive Summary
The issue of minimum wage is a hotly-contested issue in Australia as well as the entire
world. Many times, activist groups such as the Australian Council of Trade Union have been
at the forefront of advocating for increased minimum wages for all employees. This is
mainly a result of poor economic times and the rise in the cost of living. The amounts that
employees receive are not sufficient enough to sustain families and other dependants.
Taxation is also an issue where there are different taxes that have to be deducted from
these wages. The Fair Work Commission has been at the forefront also looking into ways in
which the minimum wage can be raised thus enabling Australian Citizens to have a decent
pay. There are also factors that have to be determined when seeking to increase the
minimum wage. This includes consideration of the current economic time that has led to
increasing in living standards, demand for quality work that can only be achieved by having
a skilled workforce and also the need to provide the basic needs to the society. Reviews are
made yearly so that a minimum wage can be set.

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Introduction
The review process done annually by the Fair Work Commission involves different
stakeholders who make their submissions concerning this agenda. These stakeholders
include the Australian Council for Trade Union, the Australian Industry Group, the Australian
Chamber of Commerce and Industry as well as the Australian Catholic Council for
Employment Relations. In their submissions, these bodies propose their preferred amounts
of minimum wages as well as discussions about the proposed minimum wages set by the
Fair Work Commission. For this to happen, these groups have their own reasons and criteria
that help in the determination of what the minimum wage should be, (Brennan, 2017, 37).
The process followed before the Fair Work Commission entails different individuals and
organizations making their submissions before the panel, consultations are made before the
panel of experts and a research is started and commissioned by the Panel of Experts.