Stingy Payroll Budget
Revenue versus payroll, is a real balancing act. A stingy payroll budget will send your company into a tail spin. 80% of businesses shut down because of poor management and this includes poor decisions regarding payroll.
A plan to increase revenue starts with paying the best to get the job done. If you are responding to this statement with,”I cant afford to pay that much”, your company is already in a tail spin.
Locating the right candidate for the job is like opening Pandora’s Box, paying the right man or woman for the job is the easy part. In this situation putting the cart before the horse is not a negative, it must be done if you plan to increase your revenue.
If you are one of the lucky ones and already have a gem of an employee who is obviously taking an interest in your company, get your checkbook out and write in the memo,”money well spent”. I realize this advise isn’t easy to swallow but as they say, the good stuff isn’t easy.
In my next blog, I will discuss how to squeeze extra money out of your company to make the payroll increase happen.
Author Tuley
Pink Label Fashion
http://www.pinklabelfashion.com
Posted: November 1st, 2009 under News.
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