Are Your Company’s Pay Rates Affecting Your Employee Retention?

In Illinois, the state minimum wage is currently set at $8.25 per hour. Cook County, Illinois has recently increased their rates to $10+. Wisconsin’s minimum wage is on par with the Federal minimum wage: $7.25. Although the majority of companies pay above the minimum, some definitely pay more than others, and this can make a huge difference when it comes to your company’s retention rates…

According to a report made this year by the US Bureau of Labor Statistics, Production Workers in Lake (IL) and Kenosha (WI) Counties make $14.45 per hour on average. That’s $2.14 more than the national average. Semi-skilled positions, such as Material Handlers, are compensated closer to the national average; a little over $16 per hour.

In the infographic below, you will see how setting the right wages for your employees can have a significant influence on their retention. Companies are realizing that lower wages for their employees are resulting in higher turnover rates. How does your company compare? To see how XCEL can help your company with their retention rates, contact us!

XCEL Infographic Wages Pay Rates Retention