The employee finding firm, Remote recently did a study on hiring employees. In the still COVID work environment, that can be a more difficult than it has been in decades.
Finding top talent is even more difficult and regulations and societal pressures in some states makes it an even higher cost than others.
To combat higher costs, Remote’s Anastasia Pshegodskaya suggests hiring talent remotely as a way to help lower the cost of getting a new employee. It opens up the talent pool considerably
“Finding top talent can be a challenge for many business owners with the cost to hire an employee being one of them. When hiring remotely, not only do employers have access to a wider pool of talent, they can also look to be more cost-effective when hiring individuals from different states,” Pshegodskaya said. “With this in mind, it’s worth employers investigating talent in specific states if cost is a challenge in the hiring process.”
The study also looked at which states are more expensive for a company to hire a new employee. Five of the top-10 most expensive states are PIA Western Alliance States. In order of the most expensive to less expensive are Oregon, Alaska, Nevada, Washington and California.
Remote used the average salary of all U.S. workers at $54,132 and then calculated the hiring cost based on what states require when hiring. The least expensive state in the union is South Carolina.
New Jersey is the most expensive.
1. New Jersey
Average U.S. Salary: $54,132
Mandatory employer costs: $6,147
Total average cost of employment: $60,279
2. Hawaii
Average U.S. Salary: $54,132
Mandatory employer costs: $6,119
Total average cost of employment: $60,251
3. Oregon
Average U.S. Salary: $54,132
Mandatory employer costs: $6,082
Total average cost of employment: $60,214
4. Alaska
Average U.S. Salary: $54,132
Mandatory employer costs: $5,701
Total average cost of employment: $59,833
5. Nevada
Average U.S. Salary: $54,132
Mandatory employer costs: $5,641
Total average cost of employment: $59,783
6. Washington
Average U.S. Salary: $54,132
Mandatory employer costs: $5,589
Total average cost of employment: $59,721
7. California
Average U.S. Salary: $54,132
Mandatory employer costs: $5,568
Total average cost of employment: $59,700
Rounding out the top-10:
8. New York
9. Wyoming
10. North Dakota
Source link: PropertyCasualty360.com — https://bit.ly/3M1aLkt
