In this week’s video blog our expert guide, Don Hadley, discusses how to help organizations prepare for the financial impacts that current and upcoming legislation from state and federal governments will have.

One of the critical steps in preparing for these is to take a closer look at your organization’s financial proforma.  When we at AVW work on proformas with our clients, we are currently recommending adding a 5-7% increase into all labor costs due to regulations.  One impact our clients are seeing and feeling is that they are having to lower wages for their employees in order to cover the increase in labor costs due to legislation requirements.

Some questions to keep in mind when reviewing your financial proformas:

• How often are you updating your financial reports?

• Are you keeping government regulations in mind when projecting for 2014 and beyond?

• What actions can your organization take to lessen the impact of outside influences from impacting your finances, your employees, etc.?

If your organization are in need of guidance in navigating the impacts of the economy on your business, call our expert guides at 800-786-4332 or email JSabatini@AppliedVisionWorks.com.  Your success is in plain sight; it just takes determination and action and only takes 30 minutes to get started!