Employee Benefits: Who's Stealing your Employees?
An ad on the local radio station this morning really made me sit up and listen.
The ad features the dialogue with a young woman interviewing for a job at a well known National Donut and Restaurant Chain. When asked by the interviewer what she would like to find in a job just starting out, she says something to the effect of: “a flexible schedule, a pleasant place to work, competitive wages, comprehensive training, advancement opportunities, incentives and recognition, health and dental benefits.”
To which the interviewer replies, “OK”. She says, “OK?” Yes, OK!
For almost all of my 40 years in business, Governments and economists have measured the strength of the economy in terms of the “unemployment rate”. But that seems to be changing in many parts of the country as we see the unfilled employment opportunities. It is becoming a “worker's market”.
We have all heard the stories from Alberta, of what seem like outlandish wage rates for jobs that still don't get filled. Of “Help Wanted” signs everywhere.
But more and more we are hearing the stories right here on Vancouver Island of the difficulty in finding skilled people to fill jobs; or of trades people who are lured down the street by higher wages or a better benefits plan.
And the consensus seems to be that it is going to get a lot worse before it gets better!
So, how does this relate to the radio add? The very fact that the ad was on the radio is the message. And how does this relate to “Business Exit Solutions”?
A month ago a small business owner phoned me in a panic, with a request to implement a health and dental benefits plan that he had looked at a few months previously. Why?
Because his key employee, a skilled tradesperson who had been with his firm for a few years was going to leave for the competition. And the reason? A Health and Dental plan!
If you have been procrastinating on implementing a benefits plan, or of upgrading your present one, don't delay. Your business can't run without your employees! And you can't very well sell it and retire without good employees either! Who's Stealing Your Employees?
We are Business Exit Strategists.