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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.
The minimum wage in Michigan is currently $10.10 per hour and is scheduled to increase to $11.50 per hour by 2027. This increase is being phased in gradually over a period of five years and it is to ensure that all workers are paid a fair wage for their work.
The minimum wage has been a topic of debate for many years. Some people believe that the minimum wage should be increased to help low-wage workers make ends meet. Others believe that increasing the minimum wage would lead to job losses. With that being said, There is no clear consensus on the impact of increasing the minimum wage. Some studies have shown that increasing the minimum wage can lead to job losses, while others have shown that it has little or no impact on employment.
The debate over the minimum wage is likely to continue for many years to come. However, the fact remains that the current minimum wage is not enough to support a family on its own. If the minimum wage is not increased, more and more families will struggle to make ends meet.
Here are some additional facts about the minimum wage in Michigan:
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: