• Leonard Brecken

Wage Pressure.

Many business owners and economists wonder when will wage pressures emerge to pressure profit margins as well interest rates.  The data shows wage increases have begun but more slowly vs expectations extending the business cycle.  Reasons for this are tied to the younger generation prioritizing wages lower vs prior generations as well as lack of economic growth (which seems no longer lacking as GDP accelerates).  Younger employees value work environment & career opportunity/growth/ training more vs prior generations.  Social/ideological reasons are probably driving this.  As a business owner it's important to understand what your employees care about compensation wise and how that translates to higher profit.  However wage pressures are real & now and formulating a plan to deal with them to preserve profits is essential.  Contact us to build a Profit Plan @ lbrecken@charlotteconsulrantservices.com.

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