As a business, we are always in need of maintaining the happiness and the competency of our employees, as well as the productivity. And to achieve all of that, we need something that can improve the skills, the productivity and also the overall wellness of our employees. And PWM, Progressive Wage Model, can be used to achieve that.
The progressive wage model is a new and really groundbreaking initiative from the government of Singapore to uplift the The lower wage workers, by tying their salary to their skills and productivity. So, this is what you need, what we need to achieve that.
Why It Can?
The Progressive Wage Model is structured and aimed at increasing the salary of lower wage workers by upgrading their skills and improving their productivity. This model is a result of collaboration between the employers, the government and also worker unions. The main goal is improving their productivity while ensuring they also. get higher or more appropriate compensations for their skill upgrades.
Progressive Wage Model Has a lot of benefits for workers, the employers and also service buyers. And we can list some of them in here.
For The Workers:
- Increasing their salary steadily as they upgrade their skills.
- Carving their path into the career ladder. By having new skills and increased productivity, it will offer the workers clearer progression in their career, which will motivate them to push you higher rows and accept higher responsibility.
- Help them to get new skills that can be used in their really life as well as in their office/work situation. For example, by sending them to learn food hygiene standards and learn food safety standards, this will help them work better in the work and in their daily life as well.
For The Employers:
- The employers will enjoy higher productivity from their workers. By ensuring their workers have higher scale. It means the employer itself will have higher quality works done by the employees. This will in turn give their customers higher satisfaction.
- Businesses will always benefit from more competent and more motivated workforces, which will improve the customer satisfactions.
- By offering competitive and fair salary or wages, this will. reduce the turnover and recruitment cost for the company leading to a more efficient and effective company churn rate.
- By promoting fare and also inclusive workspaces and workplace. This will ensure that the employees will be able to have greater social cohesion between them. Equitable and more distributed wage and career advancement We’ll make all the employees have the possibilities to go up the ladder.
For Customers:
- Surface buyers will experience better services and better quality from the goods and services offered by the company. This means that they will be eager to spend more and will stay longer with the company.
Have you implemented this PWM in your company? What is the result? What is your experience? Tell us and let’s discuss!
