Despite recent waves of layoffs and increasing economic uncertainty, a majority of HR professionals expect their organizations to grow this year. But some states come with more mandatory hiring costs than others.
According to SHRM, while 80% of HR professionals are worried about how the economy will impact their organization, 74% said they expect to expand their workforce in 2023. HR solutions company Remote offers a look at which states are the most and least expensive to hire in, noting mandatory contributions employers are required to make to government programs like healthcare, retirement and unemployment upon adding a new hire.
"Fewer mandatory employment costs could potentially be a good thing for employers," says Anastasia Pshegodskaya, director of talent acquisition at Remote. "It can optimize their budgets, increase cost-efficiency and enable them to invest in other areas of their business, such as hiring more employees or expanding operations."
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Still, employers have to keep an eye on their industry's market, and which states and cities demand higher income. Even if hiring growth slows down this year, the labor market remains competitive, with the unemployment rate hovering around 3.4% — a 50-year low.
Here are the 10 most and least expensive states to hire employees, according to Remote.
