It is widely believed that in many countries, numerous individuals receive higher compensation from companies that contribute to the country’s power. However, others argue that salaries should be regulated by authorities. In my opinion, I strongly agree with the first notion. And in this essay, I will present both perspectives.
One perspective is that, one significant benefit of higher salaries is that they can strengthen a country’s economy. Firstly, managers typically hire or pay more to individuals who demonstrate good performance and creativity. If companies generate more profits through their employees, it means the government will receive more revenue from taxes. in order to build hospitals, schools, enhance education and road systems. Moreover, these developments will contribute to countries becoming a strong power. For example, Japan, known for its development and advanced technologies, especially, it has many big enterprises like Ace cook, or Ajinomoto that pay extremely salaries for people due to they facilitate benefits for their companies.
Conversely, there are one impact if people’ salaries are controlled by the government. Firstly, everyone always wants to earn more money from their work, particularly, who are not only talented but also professionally skilled. By contrast, if they are paid lower salaries, because of controlling, they move to other countries, that is the brain drain phenomenon. Namely, in Vietnam, we have more professors like Ngo Bao Chau who is excellent in mathematics and has lived in USA. He decided to move and work in development countries and contribute to his abilities for that country where he has increased remuneration for his contribution.
In conclusion, beside of there is one effect if the government administers the amount people might earn, there is one reason people must be gain more money if they have great performance. In addition, I think more firms should be incentivized to pay higher salaries for employees by the authorities as it improves workers feel that is jobs satisfaction that is an important factor in employee retention.