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About this Workshop: 2021 Minimum Wage Increase…What You Need to Know
The change in the Florida minimum wage has the potential to impact business owners. A minimum wage increase always has both positive and negative impacts and we will explore each of these.
Many opponents of the $15 minimum wage fear it will lead to job losses and business closures. However, proponents of the wage increase say that raising the federal minimum to $15 per hour will not only benefit workers, it will actually help small businesses by increasing consumer spending, lowering turnover and spurring better productivity and customer satisfaction.
By understanding the potential impacts, businesses can more easily plan for necessary changes.
This Roundtable seminar will answer the following questions business may have:
- What/when is the increase?
- What are the pros/cons?
- Additional Benefits?
- How do I prepare?
Also, to be discussed are the steps companies can take to prepare for this and upcoming minimum wage changes:
- Prepare a budget for the increase
- Analyze existing wages
- Create a list and a plan
- Think about the ripple effect
Additional steps to help companies prepare
- Update job descriptions
- Notify employees
- Complete change action forms
- Take a look at insurance forms