Paying contractors more gets you faster work and better treatment. Cheaper contractors slow projects down. If you pay above market rate, you jump the queue and turn effort into revenue faster.
Pay your contractors more. I've been in a bunch of discussions lately where people are talking about how they can reduce the cost they have in contractors, reduce the amount of management they need to have without having to increase the pay or what have you. And there are certain like geographic things you could do to go find people who might be lower overall cost. I gotta say that what usually happens in those situations is things slow down. And if you're taking out, if you are a piece of somebody's portfolio and you are one of 7 clients they have, then the likelihood that somebody else is yelling louder than you is relatively high, which means you need to start selling, creates a whole negative relationship, et cetera. But if you are the person who pays them more than the next person, then they want to do your work and they want to be giving you preferential treatment because they know the more hours they do for you, the more they're going to be increasing their income. That gets you more speed, that shortens the time of delivery, and that allows you to be increasing the speed at which you are able to turn their efforts into money. So consider, how can you pay your people a little bit more to get speed?
