As of September 30th, the minimum wage in the state of Florida will increase once again, bringing it up to $11.00 an hour for most employees, with tipped workers, including servers and bartenders, being moved up to $7.98 an hour. These general and tipped minimum wage increases are part of a multi-year amendment to Florida’s constitution based on the following schedule:
FL Minimum Wage
Minimum Wage Increase Coming on September 30th, 2022
- $11.00 ($7.98 for servers/bartenders) on September 30, 2022
- $12.00 ($8.98 for servers/bartenders) on September 30, 2023
- $13.00 ($9.98 for servers/bartenders) on September 30, 2024
- $14.00 ($10.98 for servers/bartenders) on September 30, 2025
- $15.00 ($11.98 for servers/bartenders) on September 30, 2026
Unless a further amendment is passed after September 30th, 2026, Florida’s minimum wage will return to an adjusting annually for inflation starting in 2027.
Industries/Businesses That Will Be Affected by This Change
The primary minimum wage increase in Florida will cover all industries and businesses. These are just a few that will be affected:
- Construction
- Laborers
- Landscapers
- Office
- Retail
- Medical field
- Professional services
- Hospitality
- Education
- Food service
- Commerce
- Agriculture
- Financial services
What This Means for Florida Businesses
As with any minimum wage increase, the impact to Florida businesses could be far-reaching. Many of today’s businesses run on a tight profit margin and some may need to adjust various areas of their business to compensate for the increase. Many business owners are confident that this increase will boost consumer spending and they will continue to grow with only a few adjustments. One of the most time and cost saving adjustments business owners can make is partnering with Vested HR as their PEO.
How Vested HR Can Help Offset Costs
Vested HR works closely with new and existing clients to help them offset additional wage cost through evaluation, payroll cost reduction, and a focus on business growth.
Contact us today to take payroll off of your hands,
and let you focus on your business!
and let you focus on your business!
Here are some of the methods that are at our disposal:
Evaluate Your Current Package
Our team will evaluate your current wage package and go over all the details with you so that you know exactly where you stand. By showing you the “big picture,” we’ll be able to explain how certain adjustments might benefit your business.
Help You Reduce Backend Costs
To help you lower your bottom line, Vested HR will look at different ways you may be able to reduce your backend costs. These can include cutting administrative fees, reducing workers’ compensation fees, and initiating pay-as-you-go workers’ compensation.
Focus on Business Growth
Our team isn’t interested in just throwing out a few recommendations and helping you make changes that reduce costs only for the short-term. Instead, we’re dedicated to helping you devise a plan that saves you money while attracting and retaining top talent to grow your business for many years down the line.
Now is the best time to work with Vested HR! Through October 1st, 2022, we’re waiving all start-up fees to get you adjusted to this minimum wage increase.
Contact Vested HR for Assistance with the Florida Minimum Wage Increase
The experts at Vested HR can help you navigate the minimum wage increase and offset costs. If you have any questions, fill out our form or give us a call at (727) 474-2114 today.
