Combating Wage Inflation by Empowering Employees with High-Value Tasks

According to a new report detailed in the Wall Street Journal,?employers paid 4.9% more in wages and benefits in 2021 than they did in 2020, a trend expected to continue this year. Wage inflation is affecting diverse industries across the U.S., and it’s here to stay. Smart business leaders are looking for ways to counteract wage inflation without raising prices. One way to do this is to ensure your company’s investment in its workforce is paying off.?

We know highly engaged employees are more productive, and that employees who are given high-value tasks and understand their importance within the organization are more engaged in their daily work. That’s why business process improvement through business process automation is on virtually every business leader’s priority list. Whether you call initiatives like these Robotics Process Automation (RPA) or “intelligent automation,” the end goal is the same – the attraction and retention of a highly engaged, productive workforce.?

Another way to rid employees of repetitive, low-value tasks is to outsource them. With lower labor costs earmarked for administrative and other repetitive tasks, businesses can redeploy their resources to high-value activities that are more engaging to work on, and more essential to the business. But while an?offshore employee may require a salary that’s considerably less than their U.S. counterpart, that labor cost will still be more expensive that a line of code, or a script.?

Technology, when used correctly, is almost always more cost effective, more accurate, and more efficient than a person performing the same task. The simplest example of this is replacing a business process that requires an employee to enter the same data multiple times in one or more systems with an application. Intelligent automation should be a top priority for any labor-intensive company or department. Already a trend in 2021, RPA implementation is now an important tool to combat wage inflation.??

This is why CAVU Capital invested in BlackBelt Solutions and then doubled down by sponsoring the merger between BlackBelt Solutions and ImageTech Systems. ImageTech Systems provides intelligent automation solutions, leveraging the Nintex and Kofax platforms and to a lesser degree, Microsoft Power Apps. From modern mobile forms applications to flexible process automation, ImageTech Systems leverages technology that customers?already?own to cost effectively automate business processes.

To explore how ImageTech can help your company automate processes to free up employees to work on higher value activities, visit?https://www.imagetechsys.com.

CAVU Capital is a private investment firm founded in 2020 and headquartered in?Tampa, FL.?CAVU makes investments in emerging and mid-market technology companies and takes an active role in helping management create and execute a plan to grow. For more information, visit?www.cavucapital.com.