We're here to help!
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 Minnesota is $10.59 per hour for large employers and $8.63 per hour for small employers. The Minnesota minimum wage refers to the legally mandated lowest hourly rate that employers must pay to their employees.
The Minnesota minimum wage is periodically reviewed and adjusted to account for inflation and economic factors, ensuring that workers receive fair compensation. To obtain the most accurate and up-to-date information about the current minimum wage rates in Minnesota, consult official government websites or labor departments, which can provide comprehensive details regarding the minimum wage regulations in the state.
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: