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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 Tennessee minimum wage is currently set at $7.25 per hour, which is the same as the federal minimum wage set by the Fair Labor Standards Act (FLSA). This means that employers in Tennessee are required to pay their employees at least $7.25 per hour for all hours worked.
However, the Tennessee minimum wage can change depending on certain employers. For example, those that make less than $500,000 per year, may pay a lower wage of $4.25 per hour to employees who regularly receive tips. Additionally, some cities and counties in Tennessee may have their own minimum wage Tennessee laws that are higher than the state and federal minimum wages.
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: