Methods for Management: In depth and practical

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HUMAN RESOURCES

I want and need to pay my employees more. How can I afford it?

MFM says . . .

You’re right. Today you have to pay your employees competitive wages. There are only two ways to pay your employees more without reducing your overall profits. You have to look for ways to improve productivity or you have to increase prices. In low-tech and services industries, price increases are frequently the primary option available.

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