Socialism

They aren't being paid for the efforts and profits produced by their labors for 8 full hours. They are being paid for being at the company for 8 hours.

Let's say they make 1,000 bits and bobs an hour, which the company sells for $20 each. That's $160,000 worth of product made over the course of their shift. Taking out taxes and operating costs and various overhead, they're still generating a lot of profit. They aren't being paid the worth of the value they create. Instead, they're making $7.25 an hour. It will take them almost 3 hours of work to buy one bit and bob, even though they create 1,000 an hour.