Adjusting to the Florida Minimum Wage Increase
Chad Sorenson, SHRM-SCP, SPHR
President of Adaptive HR Solutions
In November, Florida voters approved raising the minimum wage to $15 per hour by 2026, placing a one size fits all approach across a diverse state. Unlike the legislative changes in other states, this was a state constitutional amendment, which would requirement another amendment to make any adjustments. What does this mean for employers?
Despite what might happen to Florida’s economy over the next six years, the minimum wage will increase every year. Employers must develop strategies today to deal with the 15% increase in minimum wage happening in September 2021 and the $1 per hour increase every year after until it reaches $15 per hour. Even employers who are currently paying more than minimum wage will be impacted by these changes as they deal with increased competition for labor, rising costs and potential demands for higher wages from current employees.
This program has been submitted for 1 SHRM and HRCI credit.