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Happy New Year everyone . I hope itís prosperous for all.
I searched the database on here but didnít really find a good thread discussing what employees in our field are receiving for benifits.
I know this will vary greatly by the size of a given shop . But I am curious what you all give to your guys and gals. In my case , were a relatively small shop. 8 full time employees . If I could afford to give them the same benifits as the corporate world gets I would . But itís simply not feasible for me.
What I do offer is
-401k with profit share (we do not match )
What do you offer your employees to keep the balance of keeping them happy and the business profitable ?
As you can imagine , this question is being raised because we have some asking for more vacation time and sick time .
Thank you everyone , happy new year !
I want to hear more as well, Had a fellow come thru recently, he had overstated his qualifications a bit and at one month walked in and quit, said other shop had certain benefits and he needed to move on,, in his initial interview he did not need insurance as his wife had both covered, so i asked him to consider some differences in shop policies and check it out over the weekend, he came in monday and and done his homework and found he wanted to stay with Us, we let him go as he had initially quit without giving Us a chance, not sure what he was wanting but another good Vet walked in needing a good job.
Not an answer to the original question, but an idea that may prove useful. Employees generally think solely in terms of take home or hourly pay.
I used to provide an annual recap sheet to employees of total compensation and employee cost to the company. Included would be all benefits as well as employer contributions/profitsharing to 401Ks, employer paid FICA/Medicare, and worker's compensation. This is usually a real eyeopener for employees. You can also use it in comparison to revenues per employee.
My wife and I just discussed her 2017 job compensation by adding in employer 401K match and profit sharing and converting it to gross hourly compensation per actual hour worked. As a result, when also factoring dress code and travel time, she will bite her tongue and continue to be a good employee in 2018.
We start off by paying what I feel is a very good wage. That seems to be the "benefit" most employees appreciate the most. In addition:
For 12 employees:
We also have a report that we generate at the end of the year that shows total compensation versus actual hours "worked" (not including those two fifteen minute breaks a day). That number is often an eye opener.