Are you enjoying the daily news dose of global economics? The credit crunch has been much talked about in my recent sustainability workshop too - with nursery managers focusing on budget issues with heightened interest.
Of course, the whole group is aware that expenditure is rising, particularly staff costs. A quick benchmarking exercise shows us that salaries typically account for between 60 and 70 per cent of overall costs, depending on the size of setting. Many are struggling to agree wage increases, given that inflation has risen to over 5 per cent. Recent increases to National Minimum Wage are adding to the pressure, and we discuss the knock-on effect this has on all salary levels. It's important not just to review the lowest-paid roles, but also to try to protect the gap between those and more senior positions.
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