We are days from the end of April and you will need to run this month’s payroll.
Without a doubt, this payroll will see a significant rise in your staff wage bill?
What you do next will be vitally important to the health of your care business.
Your costs are going to increase significantly come 1st April.
Can your care service handle this increase? What are you going to do to make sure it can?
We’re in that period of New Year resolutions and planning the year ahead. Setting goals is a crucial step towards achieving success.
How you set a goal will impact the probability of successfully achieving it. In this blog post, we’ll explore the importance of establishing one priority, breaking down longer goals into manageable milestones, and the significance of specificity, measurability and time in goal setting.
If you aren’t calculating the extra costs for each of your employees, and including them in your care fees, then you are likely paying an extra 20% or more of your overall staff costs.
This extra employer cost should be included in your fees.
On top of that, commissioners expect you to calculate these costs and will question the accuracy of your fees if you don’t.
It’s vital that you add these costs to ensure this significant cost is covered by your care fees.
If you don’t know how to calculate this significant extra cost then read this post as I’ll show you how.
How much have your costs increased since the start of April?
What are you doing to make sure that your care business is financially resilient enough to handle these cost increases?
Read this post to see how to manage these cost rises and read a success story from a care provider who followed my advice and almost tripled one of his fees.
