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A Workstream hiring specialist can help you identify high impact ways to improve your applicant experience, and even help you determine what is a good hourly wage for your location and business.
A livable wage in Louisville is estimated to be $15.39 per hour for a single adult with no children. This means that a worker earning $15.39 per hour would be able to afford a modest but comfortable lifestyle in Louisville. The minimum wage in Louisville has not increased since 2009 and is now lower than the national minimum wage in most states.
There are approximately 100,000 workers in Louisville who make minimum wage, representing about 10% of the city's workforce. Low-wage workers struggle to make ends meet on the current minimum wage, and many families are forced to live in poverty. There is a growing movement in Louisville to raise the minimum wage to a more livable level.
It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.
This question is a difficult one to answer, as a "good hourly wage" is highly subjective according to experience, work responsibilities, cost of living, and other factors. We recommend using Hourly Wage Index data as a starting point. Once you have established a baseline for certain positions, do further research into similar businesses in your area.
Lastly, consider surveying your employees. They're the best resource to help you know what is a good hourly wage, what competitive pay looks like in your location, and how competitive wages change in your industry over time.
We know that getting applicants to pay attention to your business can be extremely challenging, and that offering competitive pay is a huge part of that. Wages aren’t everything, however! Applicant experience is another important factor that can help set you apart from your competition. A few examples include: