REACH 197 - PWM for Retailers (SK)
24 Feb 2021 (11am - 7pm)
REACH
[1:19 pm, 24/02/2021] +REACH: Dear contributors,
Welcome back! π
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[1:30 pm, 24/02/2021] +REACH: π’ Topic π’
π¬ How can the Progressive Wage Model for the retail sector provide better support for retail workers and businesses?
Singapore is considering a progressive wage model for the retail sector, Senior Minister of State for Manpower Zaqy Mohamad announced on Tuesday (Feb 23).
The progressive wage model is a policy designed to raise the salaries of low-wage workers by upgrading their skills and increasing their productivity. The scheme started in 2015. If included, the retail sector would be the sixth under the progressive wage model.
Singapore's progressive wage model is a sustainable one which has worked well, said Deputy Prime Minister Heng Swee Keat, in highlighting the importance of getting various parties to work together to roll it out to more sectors. He noted that helping workers move into new jobs is a major part of this year's Budget, especially as the global economy evolves and jobs change.
The model will be discussed in detail during the debate on the ministries' budgets, said Mr Heng.
π https://www.straitstimes.com/singapore/politics/eight-day-budget-debate-starts-on-wednesday
π https://www.straitstimes.com/singapore/progressive-wage-model-sustainable-has-worked-well-dpm-heng
π https://www.channelnewsasia.com/news/business/progressive-wage-model-retail-sector-zaqy-mohamed-14261950
π https://www.straitstimes.com/singapore/jobs/progressive-wage-model-in-the-retail-sector-under-study
π https://www.straitstimes.com/singapore/consumer/workers-employers-welcome-progressive-wages-in-retail
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[1:35 pm, 24/02/2021] +WJ: off-topic: Should F&B workers be vaccinated earlier? since they likely contact with more people.
[1:38 pm, 24/02/2021] +Rama: Food for thought
[1:39 pm, 24/02/2021] +Caleb: I think the cleaner should get it first. Based on last trends
[1:51 pm, 24/02/2021] ☸️ Danny εΏ:
PWM can implement for salaries of staff - if staff is also trained to manage online sales - like putting merchandise in Lazada, Shoppe e-commerce platform and manage the merchandise for online sales.
This will help to increase sales for retailers, bring in more revenue and profit for the retailers.
In so doing, productivity increase for the retail sector, and staff will justify for higher pay via PWM.
[1:57 pm, 24/02/2021] ☸️ Danny εΏ:
If retailers don't have new source of revenue, by forcing PWM on the retailers, it mean increase their cost of business.
To recover the increase in salary cost, it may force the retailers to increase product prices.
Customers will look for alternatives like online sales or overseas online sales - and lead to lost of business to our retailers.
Hence our retailers must transform our business, look for alternative source for growth, so that our retailers can pay higher salary to retail staff via PWM.
Salary growth must commensurate with improve sales, revenue, and profit - ie. Productivity growth.
Else our retailers will not be competitive with alternative platform like online sales - and drive our retailers out of business.
[2:01 pm, 24/02/2021] ☸️ Danny εΏ:
PWM without the corresponding increase in productivity growth is equivalent to implementing minimum wage (without consideration for market competition) - and will be detrimental to the retailer market competitivenes.
[2:15 pm, 24/02/2021] ☸️ Danny εΏ:
To help retailers to move online, government can collaborate with Industry players such as:-
1. Online platform operators like Lazada, Shoppe etc.
2. Logistics, delivery supply chain players.
3. IT cloud providers etc.
4. IT trainers for retail staff and business.
To systematically package a deal with individual retailers to move their merchandise offerings online - to help in retailers business transformation.
[2:15 pm, 24/02/2021] +Berny: Cleaners already in progress
[2:16 pm, 24/02/2021] +Berny: Their salary already rising
[2:17 pm, 24/02/2021] ☸️ Danny εΏ:
So that our retailers will not only target domestic market, but also open up market overseas - to grow their business, improve their sales and pay higher salary to their staff under PWM.
[2:22 pm, 24/02/2021] +Nat: I think once again you're confused
Seems like Caleb was talking about vaccination in response to WJ, not so about the PWM
[2:24 pm, 24/02/2021] +Berny: Woops, my bad
[2:24 pm, 24/02/2021] +Berny: Brain havent start working for the week yet
[2:27 pm, 24/02/2021] ☸️ Danny εΏ:
1. A successful PWM outcome will be :-
- Business market, sales, revenue, profit grow
- Business successfully transformed.
- Staff salary increase.
- Products quality improve, product prices no increase.
2. A minimum wage outcome :-
- product price increase, no improvement in quality
- wage of staff increase
- no corresponding increase in market, sales, profit, business
- retailers lose competitiveness.
[2:31 pm, 24/02/2021] ☸️ Danny εΏ:
1. PWM model - customer like us don't have to pay higher price for retail products or services.
2. Minimum wage - means customers like us got to pay higher price for the retail products or services without corresponding increase in quality.
[2:37 pm, 24/02/2021] ☸️ Danny εΏ:
Thus,
1. PWM is an economic multiplier.
2. Minimum wage is a wage-induced inflation - an economic dampener.
[2:39 pm, 24/02/2021] +Caleb: http://bit.ly/2ZzkpRB
[2:39 pm, 24/02/2021] +Caleb: Our SafeEntry system need to be more intelligent...
[2:39 pm, 24/02/2021] +Caleb: If not becomes stupid entry, where it just allows everyone to enter
[2:39 pm, 24/02/2021] +Ken: Agree
[2:40 pm, 24/02/2021] +Caleb: SE should block those on SHN too
[2:56 pm, 24/02/2021] ☸️ Danny εΏ:
1. PWM improve the salary and standard living of staff - without penalising customer like us at large.
2. Minimum wage increase the salary and standard living of retail staff - but at the cost of the customers like us, forcing us to pay higher price for retail products or services without corresponding increase in quality.
[2:59 pm, 24/02/2021] ☸️ Danny εΏ:
1. PWM with increase business activities and income - drive up economic and GDP growth.
2. Minimum wage drive up inflation and dampen purchasing activities - that reduce economic activities and GDP growth.
[2:59 pm, 24/02/2021] +Eunice Chia: Progressive Wage Model has productivity gains to power the wage increase. So there's investments into improving processes etc, that will result in cost savings -- and these are shared with workers in terms of increased wages.
[3:01 pm, 24/02/2021] ☸️ Danny εΏ:
Yes PWM also increase investment in transforming business - eg. Online e-Commerce - which is also an economic multiplier.
[3:24 pm, 24/02/2021] +KS Foong: How to trace delivery drivers from going elsewhere as most of them are not tested and all do not need to go through SHN.
[3:25 pm, 24/02/2021] +KS Foong: This is like we plant a trojan horse into our home.
[3:27 pm, 24/02/2021] +Caleb: at least train the anti-virus sofware(SE) to reject these ppl
[3:27 pm, 24/02/2021] +Caleb: SE need to have some validation
[3:53 pm, 24/02/2021] +Rama: https://mothership.sg/2021/02/incentive-covid-19-vaccine-lim-wee-kiak/
[3:56 pm, 24/02/2021] ☸️ Danny εΏ:
Government should work with shopping mall operators and developers to entice all their tenant retailers to move online.
The success rate will be higher to transform retail business.
Then move to neighborhood retailers - which will be harder as many are older retail folks.
[3:57 pm, 24/02/2021] +Nat: And how do you suppose this be done?
[3:58 pm, 24/02/2021] +Caleb: validate with only those valid NRIC and passport numbers
[3:58 pm, 24/02/2021] +Caleb: I think thats why Gov moving to TOS
[4:00 pm, 24/02/2021] +REACH: πΉLIVE: The "Emerging Stronger Together" Budget debate is happening right now.
You can watch it live here: http://bit.ly/2NScGvu
[4:02 pm, 24/02/2021] +Ken: ? Today parliament arh?
[4:08 pm, 24/02/2021] +Caleb: ya
[4:09 pm, 24/02/2021] +Caleb: I this morning then know also
[4:09 pm, 24/02/2021] +Alvin: Current MP is speaking very well
[4:10 pm, 24/02/2021] +Rama: https://mothership.sg/2021/02/darryl-david-nurses/
[4:12 pm, 24/02/2021] +Ken: π
[4:53 pm, 24/02/2021] ☸️ Danny εΏ:
Shopping mall operators and developers will have more resources, more IT expertise, good connection and financially sound to start and gather all its tenant retailers to go online while leasing their stores with the mall operators.
The chances of success will thus be higher.
[4:54 pm, 24/02/2021] +REACH: Singapore must ensure it can build back reserves, should need arise to draw on them again: DPM Heng
If the Covid-19 pandemic situation worsens, the Singapore Government may need to seek President Halimah Yacob's consideration for a further draw on past reserves to continue funding investments that would enable Singapore to emerge stronger in the midst of an unprecedented health and economic crisis.
More https://www.straitstimes.com/singapore/politics/singapore-must-ensure-it-can-build-back-should-need-arise-to-draw-on-past
[4:55 pm, 24/02/2021] ☸️ Danny εΏ:
And a sizeable of our high-end retailers are in the shopping malls - which can make PWM successful.
[5:34 pm, 24/02/2021] ☸️ Danny εΏ:
Pfizer vaccine is cutting infections, hospitalisations and deaths, PHE studies reveal
https://sg.news.yahoo.com/pfizer-vaccine-cutting-infections-hospitalisations-153833062.html
[5:34 pm, 24/02/2021] ☸️ Danny εΏ:
'Real-world' UK data shows 70% decline in COVID infections after first Pfizer shot
https://sg.news.yahoo.com/real-world-uk-data-shows-153325987.html
[5:34 pm, 24/02/2021] ☸️ Danny εΏ:
UK’s Covid vaccines cut hospital admissions by around 90%, study shows
https://sg.news.yahoo.com/uk-covid-vaccines-cut-hospital-093821601.html
[5:41 pm, 24/02/2021] +REACH: Budget debate: MPs call for review of petrol price hike, better consumer protection
MPs have called for safeguards to protect consumers against companies that may seek to profiteer by raising prices following the recent hike in petrol duties.
Some also questioned the timing of the increase, which raised the duty for 98-octane petrol by 23 per cent and that for 92-octane and 95-octane by 18 per cent.
More: https://www.straitstimes.com/singapore/politics/budget-debate-mps-call-for-review-of-petrol-price-hike-better-consumer-protection
[5:55 pm, 24/02/2021] +REACH: Budget debate: MPs urge support for businesses to leverage opportunities in growing green economy
Local businesses should get help to leverage opportunities in the growing green economy, MPs said on Wednesday (Feb 24).
Speaking during the Budget debate, they highlighted how corporates and investors are placing a greater focus on environmental, social and governance (ESG) considerations, and how firms could best position themselves along with this trend.
More: https://www.straitstimes.com/singapore/politics/budget-debate-mps-urge-support-for-businesses-to-leverage-opportunities-in
[6:32 pm, 24/02/2021] ☸️ Danny εΏ:
Wonder how is the take up rate in the vaccination.
Walk past the cc vaccination center a couple of time - but no queue and not crowded.
Unlike token collection and mask collection, the queues are longer.
[6:50 pm, 24/02/2021] +REACH: Dear Contributors,
⏰ We will be closing the chat in 10 minutes ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan
[6:56 pm, 24/02/2021] +YT: This I agree. Too sudden and a little drastic. No consideration for those who use their vehicles for a living. Why not increase "sin" taxes? Like alcohol, tobacco? Or maybe even introduce a "unhealthy" tax for food high in fats and sugar (fast food etc). These will lead to better health (hopefully less smoking, and less fatty sugary food and drinks) and in the long run, lead to a more healthy population, and lower Healthcare spending.
[6:57 pm, 24/02/2021] +Caleb: π
[6:58 pm, 24/02/2021] +YT: Or there could be a "luxury" tax on those increasing number of sports cars, Rolls-Royce, Bentleys and other high performance vehicles. Those people who buy them won't bat an eyelid over an 10% increase in price. Or is the government afraid of offending these rich people?
[7:00 pm, 24/02/2021] +REACH: Dear Contributors,
We will be closing the chat for today.
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan π
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