This month I want to talk about inflation. I am aware that this is not a nice topic, it is a little bit like Covid and Brexit. Nothing good can come out of it... or can it?
I have a mentor, a fabulous retailer called Stuart Rose, who once told me to ‘be brave’ when it came to the annual price adjustment. If there was ever a moment to use the idiom ‘easier said than done’, then this is it. But, be brave we all must be.
I employ about a hundred people and anything with the word salary in it is likely to bring me out in a cold sweat. Add the word inflation to that and my heart rate will increase to Peloton levels. In isolation, dealing with salary inflation is depressing. First, I had to look at the statistics for what other companies were doing, where I have offices and staff to pay for. That is the UK, America and across Europe. Then, I had to forget all that and decide what I could get away with. It was horrible. The part of being the boss I do not like is the impact you have on people’s lives. I am much happier with my pens and a sketch pad.
Register now to continue reading
Thank you for visiting Optician Online. Register now to access up to 10 news and opinion articles a month.
Already have an account? Sign in here