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The new minimum wage discussions, which have now resulted in a landmark agreement between the federal government and organised labour on ₦70,000, have the potential to reshape the country’s economic structure. While this move aims to uplift workers’ living standards, it could also impose financial strains on businesses already struggling with tight margins, especially within Nigeria’s diverse but cost-sensitive economy. In our latest article, we shared insights into how Outsourcing can be a game-changer in the face of Nigeria’s new minimum wage reality. Take a read: https://lnkd.in/ehvjgEmf #MacTay #outsourcing #staffing #outsourcingsolutions

Did you know that the National Minimum Wage in South Africa saw an 8.5% increase from R25.42 to R27.58 per hour as of 1 March 2024? This brings up an important question: Is the current minimum wage a decent amount for the average South African to live on? We'd love to hear your thoughts and insights on this matter. Do you believe the minimum wage is adequate, or is there still a long way to go? SHARE YOUR VIEWS in the comments below! #MinimumWage #SouthAfrica #LivingWage #EconomicPolicy #WorkplaceDiscussion #EmployeeWellbeing #JoinTheConversation

𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐌𝐢𝐧𝐢𝐦𝐮𝐦 𝐖𝐚𝐠𝐞 𝐢𝐧 𝟐𝟎𝟐𝟓: 𝐖𝐡𝐚𝐭 𝐘𝐨𝐮 𝐍𝐞𝐞𝐝 𝐭𝐨 𝐊𝐧𝐨𝐰 In a bold move, COSATU has proposed a significant increase in South Africa’s National Minimum Wage for 2025. This proposal aims to help low-income workers cope with rising living costs. 💼 Current rate: R27.58/hour 💼 Proposed rate: R30.03/hour 💼 Increase: 8.9% While some argue this is a crucial step, others are calling for even more aggressive changes to address economic inequality. As the deadline approaches, the debate continues.

The minimum wage in Greece is set to increase from a net wage of € 666.85 per month to € 705 per month in April 2024. If social security contributions are counted, the monthly minimum wage in Greece will be € 830 per month. #greece #economy #employment #minimumwage https://lnkd.in/ebXDp8Ng

Outsourcing: A Strategic Way Out of Nigeria’s 2024 New Minimum Wage In 2024, Nigeria faces yet another adjustment to the national minimum wage, following earlier hikes in 2019. This change reflects the government's attempt to balance the economic realities of inflation, rising cost of living, and social pressures from labour unions. However, the new minimum wage brings fresh challenges to employers, particularly in a country where many businesses already grapple with high operational costs, power supply issues, and fluctuating exchange rates. To cope with the financial strain, many organizations are turning to outsourcing as a strategic way out of the new wage pressures. This article examines how outsourcing is emerging as a solution for Nigerian businesses in the context of the 2024 minimum wage adjustment, exploring its potential benefits, challenges, and the strategic approaches businesses can adopt. Continue reading... https://lnkd.in/df4s_SNR #CREMConsulting #outsourcing #business #virtualassistant #smallbusiness #marketing #outsource #bpo #va #virtualassistantservices #entrepreneur #outsourcingservices #technology #personalassistant #callcenter #businessowner #businesssupport #workfromhome #digitalmarketing #software #customerservice #virtualassistantforhire #virtualassistants #freelancer #recruitment #virtualassistance #virtualassistantlife #accounting #businessgrowth #sales #hr

Minimum Wage: Labour To Reject N100,000 Proposal By Nigerian Govt As Negotiations Continues On Tuesday Organised labour in Nigeria has firmly rejected the federal government’s proposal for a new minimum wage of ₦62,000 or ₦100,000, describing it as insufficient for the average worker. Chris Onyeka, Assistant General Secretary of the Nigeria Labour Congress (NLC), made the union’s stance clear in an interview on Channels Television on Monday. “Our position is very clear. We have never considered accepting ₦62,000 or any other wage that we know is below what can sustain Nigerian workers,” Onyeka stated. “We will not negotiate a starvation wage.” https://lnkd.in/eTZ9caeW #News #Trends #Trending #primebusinessafrica #fyp #Newsupdate #Latestnews #inflation #budget #money #family #finance #tips #viral #trending #socialmedia #nigeria #news #today #pba #africa l

Navigating Nigeria’s New Minimum Wage Kimberly Ryan Limited's latest publication unpacks the critical impacts of Nigeria's new minimum wage policy. With the move from ₦30,000 to ₦70,000, businesses and individuals face significant challenges and opportunities. Highlights of the Publication: 1. Economic Insights: Analyzing the broader economic impact, including inflation and cost of living challenges. 2. HR Strategies: Practical recommendations for employers on compliance, payroll adjustments, and managing workforce morale. 3. Employee Benefits: Understanding rights and opportunities under the new wage structure. 4. Global Benchmarking: Comparative analysis with other economies facing similar challenges. This guide is a must-read for professionals, policymakers, and anyone passionate about the labor market transformation in Nigeria. Read, share, and spark the conversation. Let’s work together to adapt to this change! 👉To read full publication: https://lnkd.in/eCWJi6Zm

🌟 Let's talk about the need for a more sustainable wage for workers in Nigeria! 💼✨ 🌍 Nigeria's workforce deserves fair compensation that reflects the cost of living and supports a decent standard of living. 💰 A realistic minimum wage isn't just about numbers; it's about empowering workers, stimulating the economy, and fostering social justice. 📈 Higher wages mean more spending power, which fuels economic growth and reduces poverty levels. It's a win-win for everyone! 🛠️ Balancing the needs of workers and businesses is crucial. Let's advocate for policies that ensure fair wages without stifling entrepreneurship or job creation. 🤝 Join the conversation and let's work towards a brighter future where every Nigerian worker can thrive! #FairWages #EconomicEmpowerment #Nigeria 🇳🇬✨

#DRC 🇨🇩 The Democratic Republic of Congo has doubled the Guaranteed Interprofessional Minimum Wage (SMIG) from 7,075 Congolese francs to 14,500 FC. Key highlights of the new adjustment: 🔹 Effective February 2025: Workers across the DRC will benefit from increased salaries. 🔹 Annual Increment: Article 2 of the order mandates a 3% annual increase in the adjusted SMIG for every year of uninterrupted service in the same company. The decision was announced by the Minister of Labour and Employment on January 2, 2025 and stems from a tripartite dialogue in October 2024, involving: 🤝 The Ministry of Labour 🤝 Professional employers' organisations 🤝 Workers' representatives https://lnkd.in/euBxJPZ9 #DRC #MinimumWage #WorkersRights #EconomicGrowth #InclusiveDevelopment

𝙇𝙖𝙜𝙤𝙨 𝙇𝙚𝙖𝙙𝙨 𝙩𝙝𝙚 𝙒𝙖𝙮: 𝙂𝙤𝙫𝙚𝙧𝙣𝙤𝙧 𝙎𝙖𝙣𝙬𝙤-𝙊𝙡𝙪 𝘼𝙣𝙣𝙤𝙪𝙣𝙘𝙚𝙨 𝐍𝟖𝟓,𝟎𝟎𝟎 𝙈𝙞𝙣𝙞𝙢𝙪𝙢 𝙒𝙖𝙜𝙚 𝙛𝙤𝙧 𝙒𝙤𝙧𝙠𝙚𝙧𝙨 🌍💼 In a major move to alleviate economic pressure, Governor Babajide Sanwo-Olu has confirmed that the Lagos State government will increase the minimum wage to N85,000. During an interview on 𝐂𝐡𝐚𝐧𝐧𝐞𝐥𝐬 𝐓𝐕, Sanwo-Olu shared that this decision comes after extensive discussions with labor unions, aiming to improve the living standards of civil servants. This new wage plan demonstrates Lagos' commitment to ensuring its workers are supported amid rising inflation and tough economic conditions. The governor emphasized that this is not a competition with other states, but rather a reflection of Lagos' capacity and commitment to its workforce. In this bold move to improve worker welfare, Lagos State sets a new wage benchmark, prioritizing affordability and capacity amidst Nigeria's economic challenges. 𝙄𝙨 𝙩𝙝𝙞𝙨 𝙩𝙝𝙚 𝙨𝙩𝙖𝙧𝙩 𝙤𝙛 𝙖 𝙣𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙩𝙧𝙚𝙣𝙙? https://lnkd.in/dRXkfxMy