The Effect of 2015 Minimum Wage Increases on Retail Industry in Taiwan

• Main Authors: LI,CHENG-JIE, 李承杰
• Other Authors: CHUNG,CHIEN-PING
• Format: Others
• Language: en_US
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/67116343364692906415

碩士 === 實踐大學 === 企業管理學系碩士班 === 104 === Abstract Minimum wage, how it is set and its far-reaching effects have been the focus of much debate for a long time. This study will examine the minimum wage systems of Taiwan and several other major countries, as well as the effects of minimum wage increases on retail industries, employers and labors. First, a review of the related literature is presented, and then a questionnaire survey methodology is used to discuss the relationship between minimum wage and the retail industry. Based on the results obtained by the questionnaire, conclusions are given in two parts. First, from the perspective of labors in the retail industry, an increase in minimum wage has a considerable impact. When the minimum wage is increased, labors are more willing to work hard, and labor enthusiasm and productivity improve. Second, from the perspective of employers in the retail industry, increases in minimum wage also have significant effects. Specifically, an increase in minimum wage will increase the cost of labor, which employers will most likely attempt to offset by increasing product or service prices. However, labors and employers do agree on certain aspects of the minimum wage discussion. For instance, it is agreed that minimum wage increases in the past have offered greater motivation for people to seek work, and when such increases are implemented according to a schedule, employee enthusiasm and productivity improve. If such schedules are adhered to, employers will be able to plan for the increases, while the increases will have positive effects on the workforce, thus improving the relationship between employers and labors. Keywords: Minimum Wage; Retail Industry; Labors and Employers