Publication: A Managerial Perspective on the Impacts of Implementation of Minimum Wage in Malaysia
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Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Penerbit USIM
Abstract
The main method of communication between employers and employees is through salaries. They stand for the most important facets of daily life. Malaysia's minimum wage law provides incentives for employers and employees to implement productivity-enhancing measures. The goal of the government is to make Malaysia into a nation with a highly productive and high-income economy. A minimum wage legislation will pressure businesses to increase prices in the short term, particularly for businesses that rely on low-paid labor. Firms may be compelled to shift higher up the value chain to compete. These adjustments will contribute to Malaysia becoming a high-valueadded, high-income economy. The minimum wage is anticipated to have a favorable impact on the Malaysian economy in the medium to long term. A rise in employee income is also anticipated to lead to increased consumer spending and vigor in the economy. The policy will help to advance a better and more equitable wage structure as well as higher value-added economic activity.
Description
E-Prosiding SAIS 2023 Seminar Antarabangsa Islam dan Sains 2023 : “Peneraju Sains Islam di Persada Antarabangsa”/Editor Noorfajri Ismail, Syamila Mansor, Rezki Perdani Sawai, Ahmad Fadly Nurullah Rasedee
19 Disember 2023
Anjuran: Persatuan Kakitangan Akademik USIM (PKAUSIM) dengan kerjasama Fakulti Syariah dan Undang-undang USIM dan Institut Fatwa dan Halal (iFFAH)
Keywords
Minimum wage, labor market, labor market
Citation
Ismail, N, Mansor, S, Sawai, R.P, Rasedee, A.F.N(Eds.). (2023). In E-Prosiding SAIS 2023 Seminar Antarabangsa Islam dan Sains 2023 (pp. 1–214). Penerbit USIM.