What Should Businesses Do as Labor Prices Increase #2018

In episode #2018, Neil and Eric talk about what businesses should do as labor prices increase. While it’s vitally important that workers be paid what they're worth, some of the current trends in salaries are decidedly counterintuitive. Tune in to hear about some of the outrageous starting salaries in tech and marketing right now, and how you should be approaching this trend. TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: What Should Businesses Do as Labor Prices Increase. [00:32] How Neil would approach the spike in labor costs in certain sectors. [00:58] Some of the implications of overpaying for talent and what to do instead. [02:41] How to institute a signing bonus to compensate for a salary bump. [03:31] Why you should be patient and detach yourself from what other companies are doing. [04:09] That’s it for today! [04:14] Go to https://marketingschool.io/live to learn more!   Links Mentioned in Today’s Episode:   Chris Voss Teaches the Art of Negotiation: https://www.masterclass.com/classes/chris-voss-teaches-the-art-of-negotiation Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro   Leave Some Feedback:     What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review.     Connect with Us:      Neilpatel.com Quick Sprout  Growth Everywhere Single Grain Twitter @neilpatel  Twitter @ericosiu     Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.