Training fees repeated

 Well inflation remains stubbornly high, and we are all going to have to get used to needing to negotiate higher fees/salaries to remain standing still.

I increased fees this time last year, and I have already booked in new rates for 2024 with some clients.

This is the new world we all have to get used to.  Even my window cleaner put prices up 20%.

After years of relatively low inflation, we are now in a second year of it being high, and consequently significant wage/cost inflation is going to happen.  We can pretend it wont, but the reality is that it has to.  This will mean added difficulties in agreeing fees/rates/prices with suppliers, but we should be getting used to this new normal.

Anyway, for new work coming in after September 2023, my rates are going up.  I imagine so are everyone elses.  Good luck to everyone on both sides of the table.

Training fees

  Sorry folks, but they are going to have to go up.

I am currently increasing rates where I work as a third party, and those training providers are going to be increasing rates too.

Generally there has been little fee inflation since the mid 2010s, but actual inflation was relatively low and so a slow deterioration in fee rates could be made up with an extra day or two.

We are not in that place now.

But training is also one of those areas where budgets are under pressure when times are hard (I always argue that Procurement and Sales training should be protected, but I am biased).

So, rates for this year and already agreed dates for next year are staying the same.

New enquiries are at higher rates starting tomorrow 1 September 2022.

If you are not doing the same now, you will have to think about it.  Yes, that does contribute to inflation.  But inflation can no longer be ignored.