Switzerland's minimum wage initiative was launched by the SGB, the country's largest trade union, in response to concerns that the country's poorest citizens were underpaid. A referendum on the issue is possible because the country's system of direct democracy allows the populace to petition for votes on matters of economic, social and political interest.
"In several industries, such as construction or gastronomy, minimum wages have been introduced in Switzerland a long time ago through collective labor agreements," Kristina Schüpbach, a member of SGB's campaign staff, told CNBC via email.
"They protect the employees against undercutting. But the majority of working people in Switzerland do not have such protection."
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However, critics have voiced concerns over the minimum wage's implications for businesses, jobs and the Swiss economy. They warn that a high minimum wage could crunch companies' profits, affecting how many people they can afford to employ, and pressuring the selling prices of goods and services.
"A minimum wage of 4,000 francs could lead to job cuts and even threaten the existence of smaller companies, notably in retail, catering, agriculture and housekeeping." Swiss Economics Minister Johann Schneider-Ammann told the local media earlier this year.
"If jobs are being cut, the weakest suffer most," he added.
In response, Schüpbach highlighted that in Switzerland's's gastronomy sector, employment had risen while wages increased. She told CNBC via email: "Higher minimum wages do not create more unemployment. Many international studies say so as well."