When on-hiring staff, getting the pay and charge rates right is like nailing the perfect dance move. It’s harder than it looks! What’s the going rate? What does the legislation say? What’s too much or too little??!!!

Let’s tap into a little data-driven dance instruction, shall we?

Competitive Pay and the Talent Tango

Attracting the best talent requires a market-competitive pay check – that’s a no-brainer! But what's the magic number? Let’s get that data!

Dive into market trends, check out what competitors are up to, what are your clients currently paying? A job-board hunt can sometimes give you a clue but do you know what’s even better? Your candidates! Ask them what’s on offer out there. What did they get in their last job, what are their friends getting?

It's also important to ensure your rates meet the minimum wage and Fair Work award requirements, which can be automated and protected by RatesCalc.

Informed understandings about pay rates will provide you with more productive conversations with your clients and prospects. Market-comparable pay rates will also ensure you don’t lose your perfect candidates by paying too little or lose out by paying too much. Everyone will do a happy dance.

The Real Cost of Talent

Let's spill the beans—talent acquisition costs go beyond what you see on the surface. Think of your company overheads, marketing

expenses, tech investments, and the time your amazing consultants put in. On top of all your company costs are the legislative costs that come with hiring staff, such as superannuation, payroll tax, workers compensation and leave.

It’s not only difficult to work out what all these costs are, but time consuming to keep looking them up every year when Fair Work announces the many changes, and then make all those updates to every .. single .. job rate 🤯

That’s where RatesCalc swings onto the dance floor to produce all of those factors automatically, and update it all when needed in just a few clicks!

Crunching the Numbers for Smooth Profits

Sure, hiring great talent is awesome, but let's not forget about the financial health of your business. That is where all those hiring costs must be accounted for, to calculate your TRUE profit margin. And how will you determine your profit? With a dollar margin, mark-up or percentage profit margin (click here to find out how they are different, and which one will work best for you).

RatesCalc will whip up that figure and keep your business stayin’ alive better than John Travolta!