Many countries adopt the minimum wage system. Yet Singapore has chosen to adopt the progressive wage model. Why? Because the focus is on developing skills and the wages people are willing to pay for those skills, instead of mandating a cost associated with any skill.
There is a very important difference because mandating a minimum wage may invoke inflationary pressures whereas the skills-based approach naturally lifts people towards the higher value jobs. Check out this article to see how the progressive wage model has worked for Singapore…
