Post-Election Results on Minimum Wage
Florida is the latest state to pass a law during the November presidential election to increase minimum wage to $15.
A number of states already passed laws to make local minimum wage $15, including California, Connecticut, Florida, Illinois, Maryland, Massachusetts, New Jersey and New York.
In 2020, there are 33 cities and counties with at least a $15 pay floor is set to double next year to 32, as Washington, D.C., Los Angeles and South San Francisco, along with about a dozen other California cities, adopt the benchmark
- Minimum wage laws have changed! Here’s how it affects you & start planning for the future now!
- Don’t let the election results disrupt your business. Minimum wage is going up, but your costs don’t have to.
- Leverage is the key! Writing a strategic plan won’t work unless you have the means to execute it (labor).
Don’t just plan 2021, Take action on 2021 today!
Business owners planning for the future ahead
Looking at the election results, more challenges are ahead of us as business owners. Florida is joining 7 other states — and 33 cities/counties in the US — on raising their minimum wage floor to $15 an hour.
If you want to hold costs down, MyOutDesk is with you 100%. Let’s talk about it.
At MyOutDesk, we’re beating minimum wage. Output is FAR significant, and your dollar goes a long way with experienced virtual assistant professionals!
Pros and Cons of Minimum Wage
The entrepreneur/business owner is a risk taker. He/she takes his time to produce the product and then sells it for a sum of money that he believes will allow him to make more than what he put into creating the item. In order for this business model to work, there must be people who are willing to pay enough so that they can earn profit.
The problem comes when a person or entity with more money than sense wants to earn even more. The government has decided that the business owner should pay their employees a set amount of money per hour, regardless of whether they are worth it or not.
The government does not pay the employees, they require the business owner to do so. If businesses raise their prices in order to pay for this new set of rules, then fewer people will be able to afford it and thus sales will decrease. Legalizing a smaller wage is not an increase in wages; it is merely a different way to determine what constitutes minimum wage.
History of Minimum Wage
The first instance of minimum wage laws was in 1914, which was called the Clayton Act. This act guaranteed that workers would make a living wage and be protected from unfair wages. The act also established an 8-hour work day and proscribed child labor. It was not until 1938 that the Fair Labor Standards Act (FLSA) set out to regulate child labor in the United States. This act raised the minimum age for workers from 14 years old to 16, and established a maximum work week of 44 hours.
The minimum wage throughout the years has been progressive. Federally, it started at $0.25 in 1938. In 1961, it was raised to $1 and then to $1.15 in 1963. In 1989, the minimum wage was at its highest ever of $3.35 per hour. Since then, the minimum wage has gone up and down with inflation. But now it stands at $7.25 per hour federally.
Maximizing Output with Virtual Assistants
The minimum wage is a barrier to entry. There are jobs that require workers, but the government has prevented these people from fulfilling their needs and wants by creating an artificial currency restriction. You cannot morally force someone to pay more for a good or service than they are willing. If you do, then you create poverty and fail in your duty as an entrepreneur.
The minimum wage is the lowest amount of money a worker can be paid for their work. If businesspeople are unable to pay their workers less than this, they must find some other way – such as efficiency gains or cost savings from more efficient technology – to increase profits.
This is why so many business owners are considering automating or outsourcing their jobs. They can’t compete with the government’s wage floor.
Your dollar can go farther with the experienced talent that we help you find, which is under the $15/hour wage floor. You can pay $15/hour for entry-level & zero-experience talent — or pay even less for proven & educated professionals.
In trusting in virtual assistance, businesses can do more while local employees and talent can be less distracted on grunt work — so that your money can be better spent on what’s most important for you and your community.
Get more for your money — with college-educated, career-oriented, and experienced VIRTUAL ASSISTANTS for much less than a minimum wage worker!
Experience The Difference
MyOutDesk can save you up to 70% on employment cost
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Did You Know? MyOutDesk’s origin story is set during the last global financial crisis of 2008. Yes, that’s right — our business started by scaling businesses with virtual assistants during a recession! Pioneers of virtual assistant services, our first client in 2008 went from five to seventeen VAs with a completely revamped organizational model in short order, and he told MyOutDesk, “Our virtual professionals have shaved $250,000 off our monthly overhead.”