How it affects your business
Your sector is competing with the energy and resources sector for skilled labour. Result: higher salaries and related costs.
As a result, companies aren’t just paying more for good people, they’re also getting more creative with their salary packages. That’s smart, but it also comes with tax implications – some of which may not be obvious.
How Grant Thornton can help
A multi-pronged approach is called for. Have you considered alleviating skills shortages by:
- finding companies to merge with or buy
- outsourcing certain tasks
- working with experts to manage your expatriate workforce (if you have overseas interests)
- finding new ways to motivate and retain your best people
Our talent intelligence team can help you plan your workforce needs and find suitable candidates. You can also use our remuneration specialists to create tax effective compensation packages that will attract and retain the right people.