The Sage Minimum Wage Calculator will help small and mid-sized business owners get a quick snapshot of the long-term impacts of federal minimum wage increases on their business, so that they can plan accordingly, the company said in a press release.
The calculator incorporates state-specific wage rates, and allows the user to define the number of employees, type of employment, and hours worked weekly to determine the estimated impact a potential wage increase would have on the company’s bottom line. Depending on the level of impact, the calculator then provides online resources to help business owners offset the added payroll expenses associated with the minimum wage increase, such as practical tips and advice on customer focus, process improvements, money management, and helpful checklists.
According to the announcement, a recent survey of Sage’s small and mid-sized business customers found that 44% have been negatively affected by the recent minimum wage increase, and 29% have been forced to cut staff.
The calculator is at http://www.minimumwagecalculator.com.
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