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Many companies have weathered the impacts of inflation on the cost of their production inputs by simply passing such costs on to consumers; however, as central banks, led by the U.S. Federal Reserve, continue to raise interest rates, consumer spending is likely to decrease, hampering employers’ ability to pass along costs. One of the biggest […]
With wage pressures pushing employee compensation demands higher and inflation and supply chain issues further straining employer finances, one might expect that budgets for learning and development would shrink or even be put on hold while the storms pass.
Escalating inflation has employers and compensation managers puzzling over their compensation strategies. Cost of living, cost of labor, minimum wage, living wage, recruitment, retention, compression—they’re swirling around in our heads like uninvited confetti! The annual inflation rate for the United States was 8.5% for the 12 months ended March 2022, according to the U.S. Labor […]