The Workplace Relations and Safety Minister just cranked up the adult minimum wage to $23.15 an hour from April Fools’ Day in 2024. It’s a 2% boost from the old $22.70 rate. Brooke van Velden suggested a 1.3% nudge, but the Ministry of Business, Innovation and Employment was aiming for a 4% leap.
The Starting-Out and Training minimum wage rates are hopping to $18.52 an hour, sticking to 80% of the grown-up minimum wage.
Around 80,000 to 145,000 Kiwi workers are in for a pay hike. Employers, time to brush up on those pay rates and make sure your team gets at least the current minimum dough. Remember, even if they’re just clocking a few hours or chilling at work, that rate is the bottom line.
Costs are increasing
With inflation giving everyday items a pricey makeover, your wallet might feel like it’s on a marathon. From petrol prices revving up to supply chain woes making imports fancy, it’s a costly world out there!
Is it time to review your pricing
Your business should aim for yearly cost hikes that tiptoe up rather than leap like a startled kangaroo every five years. Gentle bumps ward off price shock for customers and keep your business waltzing in tune with the market.
Can you cut costs?
If you’re hesitant to up your prices or need a bigger shake-up, it might be time to tighten those purse strings. We’ll dissect your business inch by inch to spot where we can trim the excess.
Ring us up or ping us a message – we’re at your service!