Now-a-days, a number of countries have established and strengthened the minimum wage policy in order to abolish the unduly low payment situation as well as to promote a decent work environment. All over the world, a diversified minimum wage policy has been observed, with some nations having only a single minimum wage working for all the employees while others follow the multiple minimum wage system depending on the occupational sector, activity, geographical region and others. Simple systems with a single minimum wage are relatively easier to communicate, enforce and operate but have less scope.
Complex systems consisting of multiple minimum wages can be tailored in a better way at different circumstances prevailing in several regions but more institutional efficiency and capacity are required. Therefore, it is better to have minimum wages those are “as complex as required but as simple as possible”. Most of the economies has enforced the minimum wage legislation within the end of twentieth century. In the list developed by OECD (Organization for Economic Co-operation and Development) about minimum wages, it is found that the top ten countries with greatest minimum wages per hour include Luxembourg ($13.78), Australia ($12.14), France ($11.66), New Zealand ($11.20), Germany ($10.87), Netherlands ($10.44), Belgium ($10.38), United Kingdom ($10.34), Ireland ($9.62) and Canada ($9.52) (Ilo.org, 2019). Providing support to the low-wage paid laborers is the main objective of the governments around the whole world, specifically after the financial crisis has aggravated the inequality in many countries.
The objective of the study is to understand the concept of the minimum wage and then to link it with the minimum wage policy of the country, Malaysia. The purpose is to carry out a critical literature review about the minimum wage policy in Malaysia as well as the impact which the policy has on the economy. On the basis of the evaluation, discussions of the main findings are done followed by appropriate suggestions about the remedies, policies, and enhancement and alike of the minimum wage policy implementation in Malaysia.
A critical literature review is carried out in the subsequent paragraphs focus on the understanding of the concept of the term “minimum wage” as well as minimum wage policy in Malaysia followed by the impact with the minimum wage policy in the country has on its economy. In addition to these, literature gaps have been identified and explained in an elaborate manner while performing the literature review.
According to Schulten (2014), the term “minimum wage” can be defined in terms of the lowest remuneration, which an employer is supposed to pay to his wage earners or employees for the amount of work performed by them during a particular period of time, that is not possible to reduce through an individual contract or collective agreement. In the words of Grimshaw (2016), minimum wage is actually a type of price flooring below which the employees will not agree to sell their effort to the employers. The key objective of minimum wage is to safeguard or protect employees against their unduly low payment. It helps to ensure that every individual, starting from the employer to the employees, get a justifiable and equitable share of the achievement, benefits and fruits of the success of the entity where they are working diligently. In addition to this, minimum wage structure also assures minimum living wage income to all those who are employed and are also in need for such type of protection.
Minimum wage is considered as a policy element for overcoming the amount of poverty besides reducing the inequality especially between the male workers (men) and the female workers (women) through the promotion of the right of equal remuneration for performing the equally valuable work or similar kind of job (Meer & West, 2016). Prowse & Fells (2016), stated that the minimum wage level can be set by the statute (legislature), proficient authority’s decision, wage council, wage board, or through tribunals, labor or industrial courts. Further, it can be also set via enabling the force of law for the provisions of collective agreements.
The system of minimum wage must not be looked or utilized in isolation but it is supposed to be designed in such a manner so that it can supplement as well as reinforce other employment and social policies. The vital dimensions of the effective minimum wage should include coverage, level and compliance. Coverage refers to the afford protection for all the laborers and workers while level considers the needs and requirement of the employees and their families. Finally, compliance means the conformity of the workers with the rules and regulations of minimum wage system. Thus, the minimum wage present sufficient protection and safety to all the employees in a service related relationship such as youth, migrant workers and women irrespective to their respective contractual agreement.
From the perspective of Ling et al. (2014), in Malaysia, the policy of minimum wage system is mainly determined by NWCCA (National Wages Consultative Council Act) 2011 under Act 732. A tripartite body, National Wages Consultative Council (NWCC), is formed for providing recommendation about the rate of minimum wages to the nation’s government. Once the government approves recommendation, the minimum wage order is made by Minister of Human Resources. The criteria for deciding the minimum wage level is grouped into 2 categories – base criteria and adjustment criteria. The base criteria for fixing the minimum wage rate includes Median Wage and PLI (Poverty Line Income). On the other side, the adjustment criteria considers the chages of CPI (Consumer Price Index), UE (Real Rate of Unemployment) and growth related to productivity. The country’s wage rate varies across regions. For instance, the monthly minimum wage rate in Peninsular Malaysia is quite different from that in Sarawak, Sabah as well as Federal Territory of Labuan. It is basically according to the Section 4 of Minimum wage Order 2012.
In Yuen (2013), it is explained that the enforcement officers who are appointed under Employment Act enforce the minimum wage provisions. Any employer failing to pay their employees the basic wages as per the specified minimum wage order are considered to be committing an offence and is liable to pay a fine of maximum 10,000 ringgits per employees. Sometime it may happen that the employer might get an order from the national higher authority to pay an amount which is a simple difference between the minimum wage as specified under MWO and the actual wage he paid to his employees, in addition to the fine. Moreover, repetition to such offence might lead either to an imprisonment of as long as 5 years or a fine of maximum 20,000 ringgits.
As stated in Senasi & Khalil (2015), the minimum wage order in Malaysia was gazette in the year 2012 of 16th July and enforced on January 1, 2013. Initially. the policy order of minimum wage required that the employers having atleast 6 employees are bound to reimburse a minimum wage of RM900 per month in Peninsular Malaysia where as RM800 a month in Sarawak, Sabah as well as Federal Territory of Labuan. However, under MWO (Minimum Wage Order) 2016, the minimum wage rate implementation rose the monthly wage to RM1000 from RM900 in Peninsular Malaysia and for Sarawak, Sabah as well as Federal Territory of Labuan it grew to RM950 from RM800.
In the words of Rusly, Talib & Salleh (2017), the affected laborers on an average have received about 13% rise in wage. The prime aim of the Malaysian government is to become the high income earning nation within 2020. The minimum wage policy is structured to afford the laborers fair earnings and shield them from exploitation. Besides improving the labor standards of the government, the mount in the minimum wage rate will essentially enhance the wellbeing along with boosting up the welfare of the low income earning workers, improving their motivational level and thereby productivity. The initiative of the government of Malaysia affirms that he is concerned about improving the productivity, skills as well as the economic conditions and situations of the Malaysian work force (Taylor, Rezai, & Foley, 2016).
The implementation of minimum wage policy in Malaysia has been observed to impact the employers and employees in somewhat different way. While on one side the enforcement of the minimum wage structure has a tendency to boost the income of the household along with the productivity of the workers, on the other side business operators or employers are facing stringent outcome on the operating cost of their business (Rusly, Talib & Salleh, 2017).
The efficiency wage theory states that when a worker is paid a reasonably higher wage then it will accelerate that worker’s productivity. Following this view, when a minimum wage policy is imposed then it gives the labors ability to earn a comparatively higher wage (Hsieh, & Moretti, 2015). Although the firm pays more, it acquires more productivity of its employees. Therefore, with the adoption of minimum wage policy, labor productivity rises which is associated with the decline in worker turnover and thus improving their training. On one side when the higher and stronger minimum wage increases the salary of the labors, on the other side it strengthens motivation of the employees, create healthier workers, attract good quality labors and increases the work effort.
The minimum wage policy imposition negatively affects the low-skilled workers and worse them off. Employees with somewhat low-level education and skill are adversely and directly affected by minimum wage scheme. Young adults, low skilled workers and females are badly affected (Christiano, Eichenbaum, & Trabandt, 2016). With the rise in the minimum level of wage, business entities or firms are forced to escalate their cost of labor. As the cost of each employee rises so the firms are forced to cut down either the number of appointed labors or the working hour. Sometimes it is also observed that the companies are changing full time workers into part time workers due to high cost of labor. This will in turn negatively influence the wage of the employees. Other businesses even replace high-skilled labors with the low-skilled labors in order to adjust the increased labor cost. This situation further worsen the level of poverty of those workers who are affected immensely (Prettner, 2013).
The undertaking of minimum wage policy has led towards a vast controversy among the small and medium enterprises particularly those entities, which hire quite a large quantity of workers (Daly & Hobijn, 2014). Employers showed a very strong opposition against the legislation through the associations of SMEs, besides, looking for a platform where they can participate to formulate or revise the policy. One of the core arguments of the employers includes the rise in the cost of labors. In addition, of the high labor costs, they have to bear other related costs like insurance cost, accommodation cost, transportation cost and others. The SMI (Small and Medium Institute) of Employers highlights the fact that the implementation of minimum wage policy nationwide will cause 80% of the SMEs to shut down because of the incapability to absorb cost hike (Yuen, 2013).
As per the discussion done in the previous literature review section, most of the research papers have discussed about the importance of the standard wage policy. The minimum wage has been proposed to be maintained in order to feel the workers motivated in the work field. However, the papers have not mentioned the significance of the volatile market condition of the labor market. The authority determines the wage rate considering the purchasing power of the employees (Savrul, Incekara, & Sener, 2014). The employee can improve his purchasing condition when his wage gets better off. Meanwhile, authority prefers to hike the wage rate when economy is in inflation and the wage rate gets decreased while recession is being faced by an economy. On the account of the Malaysian economy, the volatile inflation rate is the serious threat for the labor market.
The minimum wage rate will not be able to give effective outcome if the authority does not consider the negative impact associated with volatile inflation rate (Islam, 2015). On the other hand, it has been observed that, many organizations prefer to hike the wage rate in response to the inflation rate. This results in the enhancement of the nominal wage rate thought the real wage rate does not get affected. Initially, the employees do not feel the negative impact on the real wage rate, but the employees gradually can understand that the real wage value has not been improved. Therefore, the unemployment rate will declined after realizing the fact that real wage has not been improved in pragmatic sense. As a consequence to that the employment level becomes stagnant even after increment in the salary.
Moreover, the literature review has asked the employers to introduce extra wage payment policy as to encourage the workers to work more. According to the welfare economists, this will likely to compromise the welfare of the employees (Allerton, 2014). In order to earn extra income, the employees will have to sacrifice the leisure. The labor will have to work more instead of enjoying the leisure. This labors are apparently getting deprived of leisure which an individual labor could enjoy by spending extra income. Therefore, the employees could not obtain any benefit from the work from the extra income. Further, the authority has been proposed to implement stringent policy for the child labor. Every employers are advised to follow the stringent rules while employing the child labor in the organization. This will probably secure the child labor from the exploitation of labor in the workplace, however, it cannot assure the future of the child labor. The improvement of the structural development needs to be assured in order to support the structural growth of the child labor.
The implementation of the minimum wage policy has been crucial in understanding the growth of Malaysian economy. Minim wages are important tools to understand the economic structure of the people and the standard of living that comes up with increased usage. The minimum wage rate of Malaysian people is designed by various government authorities and legislative offices who structure the minimum wage of the people. Different regions of Malaysia are known to have different wage rates. The monthly average income of the people living in peninsular Malaysia varies from the average monthly wage rate of labors working at Sarawak, Sabah and Federal Territory of Labuan. This was done with reference to the regulations made by minimum Wages Order 2012 in Section 4 of the chapter (McKenzie, 2015).
The policy of minimum wage was created cordially under the National Wages Consultative Council Act 2011 that was originally reestablished with Act 732. The National Wages Consultative Act is a tripartite body which discusses the labor and social issues between management and trade unions in order to recommend the rate of minimum wage to the government and as the wage rates area approved by the government, Minimum wage order is being made by the Minister of Human Resources (Brea?Solís Casadesus?Masanell, & Grifell?Tatjé, 2015).
The process by which minimum wages are defined falls under two categories which as known as the base and the adjustment criteria respectively. The base criteria is applied by including Median wages and Poverty Line Income (PLI) with respect to the amount of people participating in the labor force. The poverty line income is the income earned by the people whose status lie below the people lying beneath the poverty line and median wages are the those wages which are provided after arranging the salaries in a sequential order. This is done because while determining the minimum wage it is important to understand the conditions of all the people staying in the economy which is formulated after keeping across look at the poverty level and estimating the number of people lying below the poverty line (Nordhaus, 2015).
The adjustment criteria considers the change made in the calculation of Consumer Price Index with the change in Real Unemployment Rate and growth in terms of provide output and productivity. The second estimate is generally considered after understanding the economic scenario of the economy because the standard of living and the demand for necessity and luxury good items is an effective tool to determine the wage level and earning of an individual (Afonso, & Gomes, 2014).
The officers who are enforced with the task of regulating the minimum wage of the workers are appointed under the Employment Act. When employers are unable to pay for the basic wages that has been determined with a collective group of people, offence has been made against the employers who have failed to provide the basic amount of money to its workers (KritiKoS, 2014). Conviction of policies made the unions for imposable of fines that start from 10,000. Employers who are related to paying a basic salary to the economy needs to be look after the needs of the people and check whether the payments are made timely to the people. Non-payment of the specified minimum pay by the employers will lead to charging of fine along with the basic wages that has the outstanding difference in the payments accrued. Employers were entitled to pay the basic amount within seven days of the last day of the time span after committing to make law deductions (Aghion, Akcigit, & Howitt, 2014).
There has been many definitions of the wages which has been defined under the Employment Act 1955. The first being the basic wages and payments related to the cash that has to be payed to employees due to their work in several industries. A general rule was made that deductions in salary can be made only after the ordinances has been approved by the Employment Act 1955 who establishes a set a rules about how a n employer can make deductions. Wage slip was provided to the employees where the terms of the work will be mentioned along with the salary (Kudrin, & Gurvich, 2015). The policy of the minimum wage was to ensure that workers are paid with basic amount of money for the services they provide in the industrial sectors.
According to economists, minimum wage and unemployment has a positive relation with each other. This is because minimum wages affect the status of the economies and reflect the condition of regional development across the globe (Acemoglu et al., 2013). Government mandated wage policies and the rate of basic pay so that the economy can attain the optimum level of output. Equity is defined as the driving out the gap between rich, poor by lowering the pay level gap between different groups of people. Providing minimum amount of wage cones up with huge costs on the firms because production of a good includes all the input goods, capital costs, costs of assets and machines, recruiting the deserved employees, training and assisting them.
The minimum amount of pay are designed after subtracting all the associated marginal costs in determining the fringe benefits of the workers. The minimum wage order was formulated on 16ogf July, 2012 and was set on 1st January. The policy required six employees who were paid with a minimum wage of RM900 for a month, for the workers staying at Peninsular Malaysia and RM800 for workers staying at Sabah, Federal Territory of the Laubaan and Sarawak. The policy has been formed to protect the workers from exploitation against the managers and seniors in private companies. The Malaysia government was concerned about the skills of Malaysian workers, productivity, using suitable labor and capital intensive approaches. The minimum wage policy has helped employees in so many levels for getting a basic income to support their life (Onaran, & Obst, 2016).
The minimum wage policy has helped to maintain the quality of the workers and secure them from the threats of market outcomes. However, it is disadvantageous for the unskilled labors as they are unable to find an appropriate job that matches their skill (Philippon, & Reshef, 2013). They remain unemployed until they acquire the skills and have a demand in the market by the recruiters. This minimum wage has to be structured in such a way that ever individual gets the equal share of the wage. According to the economists, businesses have neglected the needs of workers in Malaysia, though they are provided with a statutory wage and had the power to change jobs due to availability of jobs (Stockhammer, & Onaran, 2013).
Employees are provided with wide range of benefits due to provision of their service. Studies have pointed out about the effect of minimum wages and fringe benefits. When workers already have a higher minimum wage, they are not given much incentives and employers absorb part of increased wage cost that comes from the imposition of higher minimum wage. People in Malaysia have experienced about the bonus reductions, lessening fringe benefits and manpower streamlining due to cost cutting measures for introducing the basic minimum pay scale (Stockhammer, 2016). These changes in the structure of fringe benefits can demotivate the workers to keep up with the hard work. The allowances for meals and other vouchers have been affected by the minimum wage policy. The implementation of a high minimum wage have been advantageous for the Malaysian workers as the policy changed the working conditions, abandoning the structure of paid meal with reduction in overtime work. A higher wage was given only to people who were skillful enough to handle the job and therefore, had to be given according to the needs of workers otherwise they will change jobs effectively
Minimum wage has been an efficient instrument to raise the health standards of the economy because more and more corporate sectors came up with the idea of medical insurance covers. Health or medical insurance helps to increase the productivity of the workers. Good work culture and conditions motivate people to learn new techniques and make them more skilled to get the desired jobs. This raises the labor market competitiveness among the firms as firms are engaged I hiring the skilled labors. As a result, productivity of the economy goes up along with change in the market conditions (Aghion, Jones, & Jones, 2017). This has helped Malaysia to earn maximized level of surplus from the related sectors. Although in the stating years, the minimum wage policy was seen as a negative tool to drive the unskilled labors out of the employed work force, with time it has been an effective policy to shape the economy of Malaysia. The implementation of minimum wage has increased the welfare of Malaysia with quality living standards and effective growth in the level of GDP.
Data from various surveys have shown how the rise in minimum wage have led to the advancement of the firms. High minimum wage reduce the threats from lower turnovers and a rise in productive out per capita. When wages are above the minimum level, company needs to hire only the skilled workers and can lower their cost that is spent on trainings and recruiting processes. Employee morale and work culture is perfectly balanced with a fair wage rate. Aggregate consumer spending goes up which reflects a rise in demand for the goods (Foote & Ryan, 2015). The minimum wage have decreased the decision fatigue among the workers and to stay loyal in the organization because of the high payment structure and the opportunities that comes with it.
The business environment is continuously advancing with upgraded technologies that requires the assistance and guidance of skilled labor. Companies benefit from efficient technologies as they generate lower production costs and skilled labors with higher pay scale can handle the technologies. Although the companies have to pay a higher wage rate to its employees, it benefits from the decreased costs, higher productive output and generation of maximum profits. Employers face challenge implantation of a perfect wage rate that will empower the output of the respective firms which the pressure to bear the initial cost of investment (Onaran, & Galanis, 2014).
The policy makers of minimum wage policy should take into account certain economic factors in order to improve the implication of such a policy. Sometimes the minimum wage might be set too high which might have large impact on the costs of labour (Samad & Mansor, 2017). This might trigger price inflation and hurt the exports of Malaysia. This might in-turn reduce the level of employment in the country. Therefore, the policy makers should understand the requirement of economic development, the different stages of productivity and the need for attaining and maintaining a considerable level of employment (Yean et al., 2016). The economic factors include competitiveness, investment, prices and factors which affect economic growth.
The minimum wage policy has led to wage stagnation and therefore wages can also be alleviated through the use of different kinds of policies (Elliott III, 2017). Two factors that have hindered the improvement of minimum wage policy in Malaysia are excessive unemployment and financial state of economy and excessive pay growth. Therefore, in order to curb these negative factors, the policymakers can prepare extensive monetary and budgetary policies that would prioritize full employment. This would further tighten the labor market and the employers would automatically enhance their pay offers.
Policymakers can ensure that these mitigation policies keep interest rates unchanged until there is a wage growth of approximately 4%. These policies should also include certain employment programs and increase of public investment in transportation (Davidescu & Schneider, 2019). This would reduce the US trade deficit. There could be implementation of other policies in Malaysia that would not help create jobs but would lead to the improvement of minimum wage policy. These policies include suitable corporate tax reforms through which the tax rates would be lowered on individuals and corporations. This would further raise the interest rates in the country. Policies could be formulated that would help the country in pursuing harmful deals to US workers.
In Malaysia, it has been observed that several other factors have provided hindrance to the improvement of minimum wage policy. These factors are erosion of labour standards and weakening of the labour market (Samad & Mansor, 2017). These factors have reduced the collective power of the workers to bargain for higher wages. Therefore, in order to mitigate these factors and improve the minimum wage policy, the policymakers can take measures in order to grow wages by raising the minimum wage as stipulated in the minimum wage policy.
They can also update the overtime rules and strengthen the rights of collective bargaining. The policymakers can regularize the undocumented workers and provide them with the facilities of sick leave and paid family leave (Yean et al., 2016). Some of the policies should also seek to improve the government contracts by awarding these contracts only to firms that adhere to wage, health, and other safety laws. Other policies could help in cutting the taxes of Malaysian citizens and would foster long-term growth of the country.
Conclusion
The higher income facility of an employee might get attached and loyal towards the organization. Additionally, when wage of a worker increases then he may fear of being getting retrenched from his work and henceforth works even more harder to retain his job. Other economic factors should also be taken into consideration by the policy makers such as the market competitiveness and the rates of inflation because with increased growth opportunities, there comes threats of slowdown of economic growth from higher inflation rates. It can be expected a higher level of wage is benefits for employees to maintain a high standard of living. However, a high minimum wage is not a good policy and includes various threats that only comes up with high wage.
When the minimum wage is kept at high level, firms cannot pay this high wage to all the workers as revenues does not go up overnight and so firms respond by laying off workers. Only the skilled labors stay in the market and get the benefits of higher wage. These employees are able to maintain a high standard of living and benefits from their skillfulness that helps businesses to accrue super normal profits. Thus, from the above findings it can be said that the minimum wage policy has helped the Malaysian economy to earn a great deal of revenue from the up gradation in market outcomes and the positive economic well-being.
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