
190. THE HIRING SERIES Part 1 - 5 things you need to do before hiring your first employee
The Sweaty Startup
How Much Will It Cost to Hire Your Employees?
How much will it cost to hire your employees? That is a big question. Obviously it depends on the industry, but i'll give you an idea based on my own experience in the moving and storage business. We pay our laborers 15 dollars an hour in most cases. Andin any given state, we might have 33 % workers compensation liability. So that turns the 15 dollar hour wage into a 21 dollar and 71 cent liability. It's tempting to pay your employees cash, or treat them as independent contractors and just send them a ten 99. This isn't the right way to do business,. These taxes go back to the work force overtime. They provide the safety nets for oursociety.
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