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Why Your Organization Should Use Salary Benchmarking

Harvard Business

A key solution lies in salary benchmarking — using aggregated market data to establish competitive pay rates. payroll processing company revealed that access to robust benchmarking tools doubled the probability of firms setting the “right” salary. That means employers must find new ways to determine appropriate compensation.

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“Up or Out” Policy

Tom Spencer

It is common for top consulting firms to subject consultants to a rigorous “up or out” policy. If a consultant is falling short, they will normally have opportunities to talk to their manager about areas for improvement and benchmarks to measure progress. Consulting firms appear to employ the “up or out” policy for three reasons.

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Now Is the Best Time to Raise Your Rates

Successful Independent Consulting

Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. Your policy should be short, maybe half a page.

Policies 195
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Inflation: Understanding its Impact on the Economy

Tom Spencer

This article explores the nature of inflation, delving into its impact on different socioeconomic groups, the balance between inflation and unemployment, and the historical theories that have shaped monetary and fiscal policy decisions. Most mainstream economists have a strong aversion to deflation.

Policies 147
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Now is the Best Time to Raise Your Billing Rate

Successful Independent Consulting

Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. Your policy should be short, maybe half a page.

Policies 195
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How and When to Raise Your Consulting Rate

Successful Independent Consulting

Third, do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. for year one, $165 for year two, and $172.50

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Now Is the Perfect Time to Raise Your Consulting Billing Rate

Successful Independent Consulting

Do some market-rate benchmarking to learn what other consultants are charging, or what clients are paying. Make it a policy. I also recommend making it your policy. Literally create a document titled “Rate Policy” and write down what rates you charge for what services. Your policy should be short, maybe half a page.