How should an employer decide how much to pay workers?

How should an employer decide how much to pay workers?

The first thing to consider when determining how to compensate your workers is the federal and state regulations governing compensation, and your primary concern is going to be that you're at least paying your workers minimum wage. As a business decision, you will probably want to consider the going market value of those services, the nature of the business and seniority of the position, and some other factors such as that.