how is living wage calculator? Does it very my location family size and other fa
ID: 422586 • Letter: H
Question
how is living wage calculator? Does it very my location family size and other factors are there different models of approaches to live on wage policy? What is the impact of a living wage policy on employees in the organization? Specifically, does a living wage policy raise the wages only for people who are currently paid below the living wage level? If so how is the policy likely to affect internal equity within the organization? Alternatively, does implementing a living wage wage is policy bump up everyone’s wages? how is living wage calculator? Does it very my location family size and other factors are there different models of approaches to live on wage policy? What is the impact of a living wage policy on employees in the organization? Specifically, does a living wage policy raise the wages only for people who are currently paid below the living wage level? If so how is the policy likely to affect internal equity within the organization? Alternatively, does implementing a living wage wage is policy bump up everyone’s wages?Explanation / Answer
Living wage calculator is the wage determination of the residents in a particular region based on the real cost of living in that region. The living wage is the hourly rate of pay at which a household can meet all its expenses after deduction of government subsidies and transfer payments.
As it is based on the amount at which an average household can meet its expenses, it varies fromlocation to location and it is based on the family size.
It estimates the expenses incurred by an average household and deduct the government taxes, benefits and transfer payment offered.
Through living wage calculator, it is ensured that every individual should have the income to meet all the household expenses. Those who are drawing below it would be given the salary based on living wage calculator.
It doesnt raise the salary of every individual but for on;ly those whose salary is below living wage. It would thus reduce the income inequality within the organization and a uniformity in terms of salary drawn by every individual.
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