Why would business ethicists care about the living wage? Why should business professionals care about or...

Why would business ethicists care about the living wage? Why should business professionals care about or support a living wage?

Expert Solution

Answer :

Living wage : is the minimum wages provided to workers to live a decent life. The employer set the living wage for their employees so that they can afford basic needs and a decent lifestyle.

Business ethicists care about the living wage :

To provide a sufficient level to wages to workers so that they can easily afford their basic needs.
To protect workers’ rights and develop feeling of security of wages among employees
To improve labour productivity.
To Motivate employees to work more efficiently
To attract more capable and skilled workers
To improve the overall performance of companies
To maintain workplace and social responsibility
It is helpful in reducing poverty

Business professionals should care about or support a living wage to :

Improve their wage policy
To check on workers’ exploitation
To provide a decent wages to workers.
To increase output of their company
To maintain a proper working environment
It will motivate workers to improve their performance

Rahul Sunny answered 1 year ago

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