Wolters Kluwer has been aggressively hiring and also facing a tight labor market which is pushing wages higher. The company recently said that it will continue its practice of covering through increases through higher pricing.“We have always tried to cover wage inflation through pricing that effort continues,” CEO Nancy McKinstry said during the recent webcast for earnings for the year ended December 31.
Executives did not disclose the level of hiring nor did they discuss specific levels of hiring.
McKinstry noted, “We have added a lot of salespeople, largely outside the U.S.” Besides salespeople, technology hiring is the other major area of staff growth, particularly for Wolters Kluwer’s expert solutions.
Besides of the increasing functionality of software products, the company has been able to executive its pricing plans, McKinstry said. “In most cases, we are able to reflect the labor costs [in pricing action].”
