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Economy Ministry: 80 per cent of selected employers ready to participate in progressive wage policy

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Publish date: Fri, 01 Dec 2023, 06:13 PM

KUALA LUMPUR: About 80 per cent of selected employers are willing to participate in the Progressive Wage Policy if it is voluntary and gives them the opportunity to first examine the company's financial capabilities and performance before participating.

The Economy Ministry said that the total percentage was obtained as a result of engagement sessions with selected employers.

"Voluntary participation in the Progressive Wage Policy will be supported by two other features, namely cash incentive assistance and productivity-related wage increases.

"Government support through incentive assistance will help employers finance the cost of participating in this policy for 12 months so that they can adjust their business plans taking into account the increase in labour costs," said the ministry in a written reply to a question from Senator Datuk Wira Koh Nai Kwong in the Dewan Negara yesterday (November 30).

It said the voluntary participation was to ensure the readiness and ability of employers to adopt the progressive wage model.

"This is to give enough space for companies to prepare and make adjustments without too much cost pressure, especially among micro, small and medium enterprises," it said.

A Progressive Wage Policy will be introduced to raise the salary ceiling through a starting salary guide by position and progressive annual salary increases that will reduce the salary gap.

The White Paper on the policy was tabled in Parliament yesterday. - Bernama

 

https://www.nst.com.my/news/nation/2023/12/985291/economy-ministry-80-cent-selected-employers-ready-participate-progressive

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