Attracting and Keeping Key People In Your Business
Welcome to the team!
As business owners we all know and understand the importance of finding and keeping quality employees. Because the growth of our business probably depends on developing a great team to implement great systems, maintaining personnel is vital.
There are many reasons why people choose to stay working in our company’s. (enjoyed what they were doing, used their strengths, improved technical and transferable skills to advance along a career path, felt appreciated). Therefore as employers we should not overlook the advantages we provide our employees for working for us and not for the others. We may be surprised where they might end up. (employee moving to management)
As employees are always looking to put themselves in the best possible position financially creating the right mix of compensation (wages, salaries, bonuses, commission structure) and non-wage compensation (group insurance, group savings, time off) packaging is more of an art then it is as a science. The right mix shows employees that they are valued as workers and as community members. When people feel valued, they feel better about coming in to work.
- group savings options (cpp 5%, group rrsp, rpp, db, dc)
- group insurance options; (catastrophic-life insurance, disability, critical illness, (extended health-prescription drugs, vision, travel, medical support, paramedical services), (dental-basic, major, orthodontic)
Executive packaging plans are a major part of attracting and recruiting senior executives. (management moving to shareholder).
Higher levels and added benefits-personal spending,-gym, second opinion medical, personal medical care, extra di/ci, kidnap insurance, key person insurance)
Split dollar sale—golden handcuffs,