By Brian Babineau, Senior Vice President and General Manager, Barracuda MSP
According to LinkedIn’s State of Salary Report 2017, the highest paying field of study is computer science, with an average salary of $92,300, and the highest paying industry is software and IT services, with an average salary of $104,700. This is great news for those who’ve chosen an IT profession. But, when you add benefits and taxes to an IT professional’s salary, it’s easy to see how IT labor is the single biggest cost MSPs must account for when mapping their growth strategies.
As an MSP business owner, expanding your technical staff can be a daunting decision. Do you make a huge hiring investment now and hope your sales forecasts are accurate? Or, do you wait until your staff is overwhelmed to the point of burning out to start looking for another engineer or technician?
Fortunately, these aren’t the only options for MSPs projecting growth — or those faced with an unexpected employee termination. Here are three strategies MSPs can employ to reduce their labor costs and delay the need to add another employee.