Employment stats and state regulations impact employee wage rates
“Average hourly wages rose 3.1 percent in October from a year earlier, the fastest annual gain since 2009.”
We are looking at economic conditions not seen since the early 80’s, and late 90’s. Although inflation effects are likely to be kept in check by the Federal Reserve; everyone interested in retaining talent should look to budget appropriate wage increases. A key tool in retaining talent is adapting a strategy that implements business process outsourcing to ensure talent is focused on the future growth and collection of your firm’s revenue.