1.2% Wake-Up Call: Resourceful Employers Respond to Rising Labor Costs (Bonni Kaplan DeWoskin)
The numbers are in, and they're telling a story every employer needs to hear. Last quarter, the Employment Cost Index (ECI) rose by 1.2%, according to the Bureau of Labor Statistics, putting pressure on businesses across industries. From the corner office to customer service desks, companies are feeling the squeeze of rising labor costs. But here's the thing: this challenge is also an opportunity. Resourceful employers should recognize that surviving in such environments is about investing, not cutting. What does that mean? It means investing in strategies that will drive long-term growth and success, instead of just cutting costs for short-term gain. One strategy that is gaining traction quickly is fractional leadership. Imagine being able to tap into the expertise of a seasoned C-suite executive, but on a flexible, part-time basis that aligns with your budget and needs. That's the power of fractional leadership—a terrific solution for companies looking to adapt without sa