Martha Meza-Lara
Bellwood Electric Motors, Inc.

The most important asset to any company is its people. Keeping employees happy in the workplace can make your company a stronger and unwavering force within our industry. To employ a good work force, we must be competitive with the best employers. We should not let “great” candidates slip away without considering all the available incentives that may convince them to come to work for us — and stay.  With these incentives, we create the best atmosphere for employee retention. What incentives do your fellow EASAs have? Do these go beyond just the standard benefits? And how do does your company compare?

Of the 114 responses in the most recent EASA “Management Pulse” survey, 83% reported they provide health insurance for their employees while 17% do not. And, 89% of those responding said they pay at least for half of the healthcare benefits; 73% said make they sure these benefit packages are given to employees in writing. It’s a good policy to make sure employees are clear on the rules.

Of those responding to questions related to coverage for an employee’s spouse and children (89), 67% said they pay toward spouse coverage and 65% pay some portion for their dependents. Of the 53 respondents who reported that they pay a percentage of coverage for an employee’s spouse:  21% of respondents said they pay 100 percent; 28% said they pay 75-95%; and 38% said they pay 50-74 percent of healthcare: and 13% pay less than 50%. The vast majority of responding said they pay more than 50% toward dependent health coverage.

Following are several other benefits offered by EASA members, and the percentage of respondents who indicated that they do provide them to their employees: 

Benefit	Responses
Vacation	100% of 105 responses
Bereavement time off	87% of 93 responses
Life insurance	77% of 93 responses
401k	71% of 81 responses
Sick time	67% of 89 responses
Short-term disability insurance	59% of 86 responses
Personal time off	57% of 88 responses
Long-term disability	47% of 83 responses

 

When looking at these incentives, you can’t help but realize that it may take more than just a paycheck to make a company a truly great place to work for.  Hiring incentives can be the key to success in attracting great employees or retaining the ones we have. 

It takes a diverse blend of benefits, incentives and good business practices to retain our companies’ greatest asset: our employees.

EASA’s Management Services Committee appreciates those members who took the time to participate in our Management Pulse survey. 

Categories: Technical topics

Tags: Management Pulse

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