We know: business owners and executives are sick of hearing about inflation. When you’re not reading about it online, you can see it hitting your bottom line in higher energy expenses and supplier costs. So it’s not exactly news to tell you that IT expenses are increasing.
However, one of the biggest inflation-related expenditures could be one you might not see coming. What is this hidden budget buster? IT salary increases.
The tech industry has already seen salary and benefits packages rise in recent years due to a shortage of talent. But now, with cost-of-living increases factored in, companies are having to pay more and more to stay competitive. That means more dollars to bring someone new in. It also means paying significantly more just to keep the staff you have.
What are business owners and executives to do?
The Solution to Rising IT Salary Costs
Luckily, there is a simple solution to the issue of IT salary inflation. Work with a trusted and qualified managed services partner who can help you absorb and mitigate the costs.
This might just sound like an advertising point for our company, and we certainly are proud of the way we can help small and medium-sized companies. However, our analysis isn’t based on marketing; it’s all about facts and industry knowledge.
If you doubt this, consider the following:
- With a managed services agreement, a business of any size can pay for the services and hours it needs. That means not having to keep extra salaries on the books just to make coverage work, or to go without IT services because you’re trying to save money.
- A managed services firm, like ours, can spread the costs of IT salaries around dozens of clients. Moreover, we can afford to hire, train, and retain specialists in many different tech specialties. So, even though salaries are increasing throughout our industry, we can prevent you from feeling the worst of the pinch because those expenses are shared by many non-competing businesses.
- With the right managed services plan in place, you get the perfect amount of IT care for wherever your department or company is at that moment in time. To put this another way, you could increase or decrease the size of your contract at any time. You don’t have to hire new staff or lay off employees based on uncertain future projections.
- A managed services partner can work with your existing IT department or replace them altogether. It’s entirely up to you. So, you don’t have to let anyone go in order to start reaping the benefits of planning for the future.
Put together, these factors give you a powerful hedge against rising costs. They don’t necessarily guarantee your tech budget won’t increase at all in the age of inflation, but you are protected against the biggest rises.
Ready to Review Your Business IT Spending?
Not sure about your IT budget or strategy? Get help from a team of experts who can learn about your business, and your goals, and help you make a plan going forward.
It’s easy to get started. Simply contact us at Fantastic IT and schedule your free consultation today!