Studies show that replacing an employee costs an average of 6 to 9 months’ salary. When you lose employees, you fall behind on your project schedules and may even have to turn work down. With the current construction labor shortage set to deepen this year, it is more important than ever to create work environments that increase worker retention and attract new talent.
This means doing more than just offering good salaries. Comprehensive benefit packages show employees you care and provide perks that are more important than money.
Flexible work hours
Not adhering to a strict 9-5 will mean your employees can drop kids at school or start earlier if they prefer. While there are restrictions on jobsites, having flexible schedules helps employees to balance family life and work.
Sick leave and healthcare
If the pandemic has taught us one thing its that you don’t want employees coming to work when they are ill just to save their paychecks. Passing their illness on to the rest of the crew can cost you more in the long run. Offering a set number of sick days a year means workers can stay home when they need to without incurring wage penalties.
Healthcare benefits are a huge draw. In an industry where injuries are common its important for employees to know they are covered.
Training and advancement
Regular safety training should be a given on every jobsite. Even the most seasoned professional needs constant updates on safety regulations. Employees should also be given the chance at advancement and the option of further training paid for by the company. Many of your workers will choose to stay with a company they have a future with.
Don’t skimp on the paid vacations. Offer a set number of vacation days that increases with each year of employment, all the major holidays and a week at Christmas. Giving employees the day off when it’s their birthday is a really nice cherry on the top.
Keep equipment up to date and safe. If employees have to buy their own tools, offer to pay a percentage of their costs.
Happy employees are your business’ most valuable asset. Investing in your workers means they stay loyal and you don’t have to incur the costs of finding and training new team members.