FACTORS THAT AFFECT THE RATE OF INCREASING COSTS
There have been numerous factors that have caused the rates of many major expenses to escalate, usually with little or no advanced notice. Areas that have been said would be increasing right away include: Gasoline, Lumber, Transportation, Equipment (including computers), Automobiles, Skilled Labor, Taxes and Accountants, pharmaceuticals, and hospitals, just to name a few. Most are in reaction to COVID and the need of their services, requested by the Government.
With the threat of serious illnesses and deaths in our country, business owners and employers are taking all steps to carefully get their organizations in a healthier status. The factors mentioned in the previous paragraph will definitely cause hardships for many businesses. Then add to these financial hardships the increase in employees’ earnings, as required by our government, and employers will have to create some major efforts to meet these challenges.
As the months ahead move forward, we will all see how the businesses fare. With a positive attitude, and the progressive approach of employees, there is hope to pull ourselves out of this heavy slump we’ve been having.
Clearly, a proactive attitude can produce the earnings and makings of those who are creative and have an open-mindedness, though it won’t be easy. The bottom line is that to pull yourself out of a slump, it requires the “tightening of belts” and the positive attitude of those who support us. When a business fights for a better life, we need to stand by our beliefs. If in need of business support, contact Compass Career Management Solutions, www.compasscareer.com.