Performance-based pay: Should the minimum wage be abolished? Essay sample

So many companies prefer to pay workers for their performance that we cease to view minimum salary as an objective reward for the work done. Minimum wage is the money employees get for no matter what; it is usually small enough not to overwhelm the employer who has many people on staff. For this reason, minimum wage does not compensate for the work done by an employee. The advantages of a performance-based salary are clear. An employer pays money according to the amount of performed tasks, and an employee gets a fair salary. It looks like a perfect opportunity for everyone. However, not all employers have succeeded with the implementation of a performance-based salary. It consists of the company equity calculated according to the volume and value of the tasks and bonuses for extra performance. Some companies find it difficult to invest time and energy in calculating achievements of every worker so that they establish a fixed wage rate that more or less corresponds the expected achievements of the worker. Today we can say that a minimum salary is a rudiment. It is often applied to a low-qualified workforce that struggles with paying bills. A responsible employer shall pay their staff more than that and they shall better calculate salary according to the factual achievements of the worker. But setting a fixed salary is not a bad idea either. It is a good option for employees who are not expected to do much beyond what is required.