The law that I researched that influences compensation strategies for all companies in the state of South Carolina is the SC Minimum Wage Laws. In the state of South Carolina, the minimum wage is currently $7.25 an hour. It is considered illegal for a company to reimburse their employees beneath the authorized minimum wage created for the state of South Carolina. The minimum wage laws effect compensation policies integrated by employers with placing a minimum on what they can pay their workforce. This can be a challenge particularly for start-up companies and entrepreneurs. Many would say the minimum wage amount of $7.25 is unacceptable payment, but for many companies just beginning may not have the capital for the basic minimum wage. For instance,
