Management Report Management Book Report Essay Paper (Book Report Sample)
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Note: The Minimum wage and living wage information should be for the UK economy.
Prepare a Management Report on the minimum wage and ‘living’ wage.
Apply this to a relevant organisation that operates in the UK. Your report should outline the aim(s), legal regulation (if relevant), and costs and benefits for that organisation in dealing with this issue. Your report should also briefly outline the timescale, cost and prioritisation of any recommendations.
The living wage law is the call for individuals who have family and need to afford the cost of regular expenses, for example, housing, nourishment, apparel, utility bill, and childcare. The hourly living wage rate depends on the living expenses of a group of fourth with the two guardians working 35 hours per week. The living wage does not cover things like owning a home, saving for the children's school, and retirement. This is determined independently on the specific living network, where you live, and the sum that you will get because no every community has a similar measure of cost. As indicated by Elliot (2015) the living wage development takes as it subjects the sensible position that nobody who works for a living ought to be reduced. In this way, wages paid to even the most minimal wage laborers, should, with all-day work, lift them out of neediness. In some cases, it is tough to live on the minimum wage when you have a family. The normal acquiring at year working in a minimum wage is 14,700 assessed, and the typical cost for necessary items consistently continues to increase. One approach to have the option to help your family is working with the living wage where is higher than the minimum wage and will be progressively moderate for a family to live. The discussion below covers the objectives, legal regulations, cost, and benefits for the Royal Bank of Scotland in dealing with the issues of minimum and the living wage.
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