What’s the pay rate, mate?

If you ever heard the answer “we’re paying ‘market rate’ for this position” and wondered what they meant by ‘market rate’? Market rate is the renumeration that is typically paid for a particular job in a specific location. But, what if you’re the only Rocket Engineer in Miller’s Flat? What is the ‘market rate’ then?

Competitive pay is essential for attracting and retaining talent and in rural areas, there is no set ‘market rate’ for many of our jobs. With the cost of living in New Zealand rising all the time, it can be tough to strike a balance between paying your employees fairly and keeping your business afloat and with Central Otago being one of the more expensive areas of the country to live, how do we make sure the wages enable people to pay their bills, and stay here?