Minimum wage is the lowest wage rate that an employer can legally pay its employees and is seen as a core labour standard to which employers must abide by. With the effects of inflation, especially the cost of living consistently increasing across Canada, it is inevitable for the minimum wage in each province to rise.
On August 23, 2017, the Ontario Liberal Government met for the 1st reading of Ontario Bill 148 Fair Workplaces, Better Jobs Act. There has been much concern in the public eye regarding the highlight of this act which states a 33% increase to minimum wage in just under 6 months.
I recently read an article in the Winter 2017 MIT Sloan Management Review, Mastering the Market Intelligence Challenge (Chari, Luce & Thukral). In this work, the authors address how “many multinationals simply import their domestic models into emerging markets.” And whilst this work is directed towards those who deal with market intelligence in emerging markets, the conclusions drawn are equally applicable to those who face compliance challenges in such frontier regions.