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As always, to make sure your business is prepared and stays in compliance, we recommend that you discuss these upcoming changes to the British Columbia minimum wage with your accountant and lawyer. This article does not constitute legal advice.
What is the minimum wage in British Columbia for 2023?
As of June 1, 2023, British Columbia’s minimum wage is $16.75 per hour for most employees, which is $0.55 less than the current federal minimum wage. However, the federal minimum wage in Canada only applies to employees working in industries regulated by the government, such as banking and transportation, and provinces set the minimum wage for all other industries. However, there are certain exceptions under British Columbia labour laws:
- Liquor servers must be paid $16.75. On June 1, 2023, the liquor server minimum wage became equal to the current general minimum wage for British Columbia.
- Live-in camp leaders minimum wage increased to $133.69 on June 1, 2023. This is a daily rate for each part- or full-day shift worked.
- Live-in-home support workers receive a daily rate of $124.73, regardless of full- or part-day worked.
- Resident caretakers must earn $1,002.53 per month plus $40.17 for each suite. For buildings with more than 61 rooms, resident caretakers must earn at least $3,414.85 per month as of June 1, 2023.
Is the minimum wage going up in British Columbia?
British Columbia settled on a path to increase minimum wage rates to $15/hour by 2021. Future increases will be announced when decided.
Will British Columbia raise its minimum wage in 2023 and beyond?
Any wage increases for 2024 and beyond will be announced when decided by the British Columbia Wages Commission.
How should small business owners prepare for changes?
Minimum wage increases are great news for employees but not necessarily for business owners. If you’re worried about how upcoming changes might affect your business finances:
- Audit your expenses: Check your cash flow in detail to ensure you avoid common business mistakes and create a hiring plan that you can afford. In some cases, you may find that hiring temporary workers as needed is less expensive than taking on full-time regular staff.
- Make sure you hire and keep the right employees: Replacing an employee costs a lot. You decrease the total cost associated with recruiting by retaining valuable employees. Look for candidates who have good track records, come recommended, and fit in with the company culture. Once they’re onboarded, make sure you build a relationship and provide paths for your employees to grow and thrive; it makes it more likely they’ll stay in their roles.
- Increase prices: Increasing prices is a great way to boost your cash flow. According to Square’s 2023 Future of Retail report, given the current economic climate, 88% of consumers say they’d understand if their favourite local business raised its prices.
- Update tech: Consider automating certain aspects of the work and find ways to reduce production costs. Investing in small business team management software can help free up your time, better schedule your employees, and, best of all, is easy to learn.
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