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WK Handling Higher Wages through Pricing

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].”

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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