Workforce Strategy #1: Determine How & Where To Pay More & How To Adjust The Service Portfolio

Paying more is the simplest solution to competing for talent but it is a strategy that is fraught with challenge. The big question—can the service line be re-engineered to pay more and maintain a margin without a customer price increase? How to analyze each service line and the ability to increase wage rates is the critical step in this strategy. The options are increase wages and re-engineer service delivery, increase wages and increase prices, or close the service line. Critical decisions for every organization.

The question is how to approach this issue. There are seven steps:

Identify . . .