Second Kentucky City Raises Minimum Wage

Minimum wage laws are of deep importance not just not business owners signing the checks but also to HR professionals seeking to build the proper compensation packages. Even if your company doesn’t hire minimum-wage workers, a bump in the minimum can result over time in a bump in what applicants are trying to shoot for.

The situation becomes trickier when local regions decide they are going to raise wages higher than the rest of the nation. For instance, Lexingtion, KY just voted to increase the minimum wage to $10.10 per hour by 2018 and the mayor has said he will sign the measure. Last year, Louisville, KY voted to raise the minimum to $9 per hour by 2017. When cities start voting up the wages, it’s only a matter of time before Congress reacts.

Deciding how much to pay workers is a tricky balance. Too low and you won’t attract good talent. Too high and you won’t make as much profit. And with markets changing so quickly it’s tough to know whether you’re on one side or the other until it is too late.

NetPEO can help. Our company specializes in offering employment services to businesses that need assistance with HR tasks. We love working with small businesses and strive to form long-term relationships with our clients. For more information, browse our website or call our offices.