Salaries: Knowing what to Pay

A Good Starting Point When working as a small business, sometimes as a sole employee and the time comes to take on staff as business and workload increases. But how do you know what to pay your potential to employees? How do you stay competitive? A good starting point. Setting a salary at the right figure is something that needs to be thought through. It is important to bear in mind the current national minimum wage, and working time regulations. If you set a positions salary too low, you could end up with an empty reception room as no–one with the appropriate skills and experience would want to work for you. On the other hand, if you set the figure too high, you could see your new employee’s wages reducing your profit margin. There are a few things that you may have to take in... »