Before I bump everyone's pay, I ask myself whether I could still afford it if work slowed down 20–30%. If the answer is no, I hold off.
I'd also make sure your pricing is keeping up. If you're charging the same rates you were a year or two ago while wages, insurance, fuel, and materials all went up, eventually you're paying for inflation out of your own pocket.
So right now it's insanely busy, so I do feel comfortable raising rates, but I have a feeling in the fall and winter it's gonna drastically slow back down again. We will see.
But yes, rate bump is definitely one part of the issue, for sure.
