The increase in the national minimum wage has since caused hardships among companies in the US, UK, and Canada as this adds more to the already high payroll expenses of the business. This may put an additional burden on small to medium enterprises financially, and could actually lead to losses
Maximizing profits is the aim of every business. Many organizations are looking for ways to be more efficient and cut expenses where possible to increase their profit margins. Companies worldwide have observed the high costs of payroll, and seek solutions to drive those costs down.