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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 Austin, Texas is currently $15.00 per hour. This is higher than the federal minimum wage of $7.25 per hour, and it is also higher than the average minimum wage in the state of Texas, which is $10.50 per hour. The minimum wage in Austin has been increasing gradually over the past few years. In 2018, the minimum wage in Austin was $10.50 per hour. It was then increased to $12.00 per hour in 2019, and to $15.00 per hour in 2022. The increase in the minimum wage in Austin is due to a number of factors, including the rising cost of living in the city.
Austin is a relatively expensive city, and the minimum wage increase is intended to help low-wage workers make ends meet. The minimum wage increase has been met with mixed reactions. Some people support the increase, arguing that it is necessary to help low-wage workers. Others oppose the increase, arguing that it will lead to job losses and higher prices.
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: