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Balancing Rising Wages & Strong Cashflow in Your Restoration Business

The restoration industry has seen a shift toward higher wages in recent years. This trend is not just a response to labor shortages but also a recognition of the connection between higher wages and employee retention. While increasing pay is a positive step for employees, it can create extra restoration company cashflow pressure.

Balancing the need for competitive wages with maintaining strong cash flow can feel like a tightrope walk. Fortunately, by understanding industry trends, implementing strategic compensation structures, and focusing on workforce health, restoration companies can strike the right balance.

The Case for Paying Competitive Wages

Paying competitive wages is no longer optional for restoration businesses looking to attract and retain skilled employees. April Slater, HR Manager at OCS, explains, “It’s important to understand industry standards. If your competitors are paying more, you’re likely to lose people to them—or struggle to hire in the first place.”

The 2023 State of the Industry Report found that businesses offering higher wages saw increased employee tenure. In 2024, more restoration companies began implementing this strategy on a wider scale. Offering competitive wages doesn’t just improve employee satisfaction. It reduces turnover expenses and ensures that your team has the skills and experience needed to perform quality restoration work.

How to Balance Rising Restoration Wages and Cash Flow

Rising wages don’t have to derail your business’s financial stability. With the right strategies and the right cashflow, restoration companies can balance higher pay with a healthy cash flow. Here is how:

Understand Industry Pay Standards

Regularly review what your competitors are paying. This can help you establish fair compensation bands for different roles within your company. April recommends reassessing wages at least annually.

Be Transparent with Employees

When financial constraints make it difficult to offer raises, transparency is key. “If you’ve built a strong workplace culture and you’re honest with your team about the situation, many employees will stick around,” April points out. The key is to communicate openly and have a plan to address the gap in the future.

Offer Variable Compensation

Variable compensation like performance-based bonuses is a great way to reward employees without permanently increasing fixed costs. April suggests exploring different variable compensation strategies based on individual and team performance. According to the 2024 State of the Industry Report, 74% of companies now offer some form of variable compensation for mid-level managers.

Variable compensation can be challenging to budget, especially if all employees perform exceptionally well. But it also provides a way to incentivize performance. Of course, better employee performance often leads to better restoration company cashflow.

Invest in Workforce Health

A healthy, engaged workforce is more productive, which helps offset rising wage costs. Focus on developing strong frontline managers, recognizing hard work, and addressing burnout. As April puts it, “If you don’t have humans, the work’s just not going to get done.”

Monitor Your Cash Flow

Implementing tools to track cashflow is important. Many restoration companies use claims management services like OCS to improve their restoration company’s cashflow and reduce the time it takes to get paid.

Balancing Wages and Cash Flow Pays Off

While managing rising wages alongside cash flow may feel challenging in the short term, the long-term benefits are worth the effort. Companies that pay competitively and invest in employee performance see reduced turnover, higher productivity, and stronger financial performance overall. By staying informed about industry standards, being transparent with your team, and leveraging tools like variable compensation, restoration businesses can create a win-win situation for both your employees and your restoration company cashflow.

How OCS Can Help Your Restoration Company Improve Your Cashflow

At OCS, we work with restoration companies every day. We understand the cashflow challenges restoration businesses face. If you’re looking for new cashflow strategies after a tough 2024, restoration claims management services might be the answer. At OCS, our claims management services help restoration contractors collect payments faster, giving them the cash flow stability needed to invest in their teams. Contact OCS today to learn more about how we can help.

Connor Trahan

Account Executive

Hi there! I’m Connor, the Account Executive for One Claim. My goal is to guide our contractors through the sales process, ensuring you’re equipped with all the information you need to make your decision and hit the ground running once aboard. We view ourselves as an extension of your business and I strive to make the process an enlightening and consultative one.
My career has primarily been focused in software sales over a few different industries but the last few years were spent helping general contractors solve similar problems to what we’re doing here at OCS! Outside of work, I love spending time with my family, cooking and boating during the summer months.

Nicole Liesenfelt

Director, Human Resources

Hello! I’m Nicole, and I’m here to champion for our employees, recruit for new talent, and impact culture at One Claim Solution. I find satisfaction in supporting a memorable employee experience and bring innovation, problem solving, and strategic view to the process. Nothing is more important than our people, and a healthy culture is my top priority! I have had the pleasure of building my career in various sectors, specializing in small to medium size firms focused on high-growth. My experience is centered around driving and implementing change, leading high-performing teams, and driving process improvements. I am excited to make an impact at One Claim. Outside of work, my family and I enjoy getting outdoors as much as possible to explore beautiful Colorado!

Elizabeth McGlone

Demand Generation Manager

Great to meet you! I’m Elizabeth, and I’m the one behind all the emails and advertisements you’ve been seeing. As the Demand Generation Manager at One Claim Solution, my mission is to connect with contractors like you who need our services. I’m passionate about having an impact on others and I bring a wealth of experience in demand generation and marketing strategy to create moments of delight, curiosity, and education for you.

Prior to One Claim Solution, I had the privilege of building marketing departments from the ground up at companies in a variety of industries, including IT consulting, first protection, and healthcare. Personally, I love being outdoors, playing Dungeons and Dragons and board games, singing, and traveling.

Alisha Yartzoff

Director of Contractor Success

Welcome! I’m Alisha, and I’m here to champion your success as the Director of Contractor Success at One Claim. With a passion for helping contractors thrive, I bring a wealth of experience in onboarding, customer service, and account management to ensure your journey with us is nothing short of exceptional.

Prior to joining One Claim, I had the privilege of scaling SMB and Enterprise Customer Success teams at fast-growing SaaS startups. With over six years of experience at companies like Mavenlink, Teamwork, and ServiceTitan, I honed my expertise in building high-performing teams and fostering proactive, consultative relationships. This background has equipped me with a deep understanding of the challenges faced by businesses like yours, and I’m dedicated to helping you overcome them.

Eric Terry

CTO

Hi there, my name is Eric! I am the Chief Technology Officer here at OCS, spearheading our technical strategy. I have a background in computer science, graduating cum laude from BYU-Idaho with a Bachelor’s degree in Computer Information Technology.

Before coming to One Claim, I served as the Director of Engineering at Slingshot Technology, Inc., a company later acquired by WorkWave in 2021. My professional journey has spanned both emerging startups and established corporations, with a steadfast focus on cultivating high-trust, low bureaucracy teams and innovating technology using agile methodologies.

In my free time, you can find me flying drones, enjoying the outdoors, and spending time with my family.

Cam Smith

COO

Hello, my name is Cam, I’m the COO of One Claim Solution! I come from a management consulting background (Bain & Company) and hold an MBA from the University of Michigan. I have worked at a wide variety of organizations, from Fortune 500 to small-cap, in an equally wide variety of industries. I have over 15 years of experience in operations and strategic growth, and I have spent much of my career focused on developing high-performing tech-enabled service organizations through early stage and high growth phases.

Outside of work, my wife Brittny and I have four kids, ages 13 to 6. As residents of Mesa, Arizona, we love to ski and explore the national parks of the southwest!

Dan Doud

CEO

Hello, my name is Dan, and I am the CEO of One Claim Solution. I am super excited by everything we are doing at OCS to be the market leading insurance billing specialist that advocates on behalf of our restoration contractors. 

My professional experiences are predominantly corporate in nature. My career started at General Electric in finance and accounting. Immediately prior to joining OCS, I spent time as an investor at Bondcliff Partners and management consultant with Bain & Company. I also hold an MBA from the Kellogg School of Management at Northwestern University and got my BS in finance and accounting from Northeastern University.

Outside of the office, I enjoy spending time with my wife, two young children, and our family dog, Whiskey. We live in Charleston, SC and take advantage of the beautiful weather by spending as much time as possible outside at the beach or adventuring around town

Josh Ehmke

Co-Founder and General Counsel

Hi, I’m Josh! In 2016, I co-founded One Claim Solution with my partner Jeremy Traasdahl, and I serve as General Counsel of One Claim Solution. Working in the restoration industry, Jeremy and I saw contractors struggling to get paid quickly and fairly and we knew there was a need for change. We founded One Claim Solution to be this change and it’s been my privilege to see our company grow and to advocate for our clients as general counsel.

Outside of my passion for helping the restoration industry, I enjoy spending time outdoors, fly-fishing, hunting, skiing, and coaching my kids’ baseball teams. I’ve been married to my amazing wife for 20 years and we have a beautiful family of 5 children.

Jeremy Traasdahl

Co-Founder

Hey, I’m Jeremy! In 2016, I co-founded One Claim Solution with my partner Josh Ehmke. Working in the restoration industry, Josh and I saw contractors struggling to get paid quickly and fairly and we knew there was a need for change. We founded One Claim Solution to be this change and it’s been my privilege to lead our amazing team.

Prior to One Claim Solution, I started my career as an inside sales rep for Avnet, then moved to Pepsico as a district sales manager. Outside of work, I love spending time with my wife and four children, two boys and two girls!