Rex Frank, vice-president of Academy at Pax8, shares his insights on how to deal with increased business costs and compensation requests. Rex Frank, vice-president of Academy at Pax8, shares his insights on how to deal with increased compensation requests and increased business costs. Make your workplace a great place to work. Invest in employee benefits, and most importantly, strong culture.
Learn how to understand the impact on your margins
Billing rate
Billable utilization
Flat fee efficiency
To offset rising costs, increase your rates to customers
Consider these other things: Give more to your most valued employees
Rate increases aren’t a bad thing
Take into account bonuses and other non-payroll incentives
Weigh replacement/recruitment cost risks with increased compensation
These points and many more can be found here:
Similar Blog: Create a better employee experience for your MSP business
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