What do you think 'market rate' means? If you aren't able to hire for $14 but someone else is for $18... then $14 is clearly not the market rate and $18 is. That's what a market rate is - the rate things are selling for in the market.
> I assume they are increasing their hourly rate due to
Doesn't that maybe suggest that $18/hr is probably the current market rate then? My understanding of market rate is "amount at which the two parties are willing to negotiate", not "amount that the employer wants to lock in at, all other factors be damned"
If one can't afford to pay competitive wages, that may suggests they're not actually financially healthy enough to stay in business.
If you can't get a worker for the "market rate", perhaps the hard answer is that $14 is no longer the actual market rate, and you need to offer more money to get employees.
I live in a 50k poulation town, and $14 is not a living wage.
What do you mean when you keep saying “market rate?” You describe your competitors poaching your employees by paying them more, and saying it’s not fair because you can’t pay them that. Tough shit buddy! Sounds like you’re paying below market.
But what if the supply gets tighter ? The market rate must adapt (since it's a market). You may have to raise everyone or hire no one new, or vote for a communist 5-year plan.
Imagine if instead everyone wanted to work at your restaurant, EVERYONE, you'd fire your 6 guys and pay $2 their replacement, no ?
What do you think 'market rate' means? If you aren't able to hire for $14 but someone else is for $18... then $14 is clearly not the market rate and $18 is. That's what a market rate is - the rate things are selling for in the market.