In the world of business, there is two sides to every corporation. On one end is the consumer side and on the other end is the producer side. For the producer to be able to hire the bare minimum number of employees to run the business, they must have enough incoming revenue to pay off their wages. If the minimum wage was raised to $15 an hour, not only will this affect businesses, it will also impact the job market and the everyday lives of Florida residents. Minimum wage in the state of Florida is $8.10, if you were to be paid any less than the minimum you would be able to file a lawsuit and be compensated for all your lost paid work hours. Florida’s minimum wage is reviewed each year; it either stays the same or increases depending on the cost of living. Minimum wage is usually found in the fast food industry and retail service, where most of the employees are still full-time students and are just looking to earn a quick buck. This means that the employee has little to no experience in their field of job, therefore resulting in the minimal rate of pay. Some companies can offer their employees a better hourly wage above the minimum, but they’re not
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Granting it sounds like an amazing opportunity for the employee’s, it has created a serious issue that can eliminate all fast food cashiers. Fast food restaurants such as McDonald’s have begun to use self-serve point of sale (P.O.S) systems, much like the self-checkout at Walmart. If all fast food restaurants were to eliminate cashiers and use self-serve P.O.S. systems, it would save the company millions of dollars if the minimum were to double. The increase of minimum wage to $15 an hour would raise the cost of labor to those who are making less than $15 an hour. the projected increase would raise the cost of about half of Florida’s workforce, remarkably impacting how businesses in Florida
Granting it sounds like an amazing opportunity for the employee’s, it has created a serious issue that can eliminate all fast food cashiers. Fast food restaurants such as McDonald’s have begun to use self-serve point of sale (P.O.S) systems, much like the self-checkout at Walmart. If all fast food restaurants were to eliminate cashiers and use self-serve P.O.S. systems, it would save the company millions of dollars if the minimum were to double. The increase of minimum wage to $15 an hour would raise the cost of labor to those who are making less than $15 an hour. the projected increase would raise the cost of about half of Florida’s workforce, remarkably impacting how businesses in Florida