Ready or not, here it comes. Again.
Nebraska minimum wage will increase to $9/hour effective January 1, 2016, according to the Nebraska Department of Labor.
As a savvy businessperson, this isn’t Earth-shattering news. You’ve been preparing for this all year – just as you did for the 2015 increase – adjusting budgets, analyzing hiring forecasts and reviewing business needs.
“Ultimately, whether you like or not, this increase is coming, so diligent business must be prepared for it,” said Larry Roepke, Chief Financial Officer of Associated Staffing.
With another increase in minimum wage coming and Nebraska’s low unemployment rate, employers have to be ready to be competitive with their wages, Roepke said.
According to a 2014 survey conducted by Small Business Majority, 82% of business surveyed said they pay more than federal minimum wage. Roepke said when it comes to setting wages and attracting workers, it boils down to one thing – quality.
“You have to decide where your quality level of new hire is, and be willing to pay that rate of pay to attract that quality of worker,” he said. “That’s ultimately what you have to decide.”
If your company is like most, labor is your biggest expense. As the clock ticks closer to 2016, learn how you can capitalize on the minimum wage increase and still save money by staffing strategically and attracting more quality workers to benefit your business.