Ep. 79 - Cost of Living Raises in Unusual Times
Shorr Solutions: The Podcast
English - February 04, 2023 03:00 - 14 minutes - 10.1 MB - ★★★★★ - 9 ratingsBusiness medical business medical business tips business tips aesthetic practice cosmetic practice practice management plastic surgeon dermatologist aesthetician nurse practitioner Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
For the past decade, the cost of living has increased faster than employee wages, especially within the last year or two. And, with factors such as inflation and a likely recession (Economists say there is a 61% likelihood for a recession according to businessinsider.com), cost of living doesn’t show signs of slowing down soon.
So, what do you do when your staff comes to you expressing they would like a raise to offset the cost of living?
Tune in to this episode of Shorr Solutions: The Podcast, to understand what exactly a cost-of-living raise is and if employees should automatically be given one, what happens if your aesthetic practice can’t afford to give your employees a raise, if prices go down, do you take away the cost-of-living raise? And more!
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