Keeping the Employees You Want To Keep
In these bank crash times (aren’t they all), with your longer term employees that you have invested a lot of money and training into, consider this.
To cement that investment, it might be worth offering a pension deal to them.
The hassle of replacing an employee that makes you money can be a killer. Remember to instill in employees, that if you can’t make money out of them, then they are no good to you.
“if you can’t make money out of them, then they are no good to you.”
One incentive, that I find is Win/Win is:
- €50 a month for every employee who stays over 2 years
- For every €50 they put in, you put in €50 too.
The tax hit is minimal on you both, but it should make people look out for your business that bit more.
As people age, this becomes more relevant to them. An important thought is to avoid being a trustee for their pensions. You have enough to do running e business and worrying about yourself and your own family without adding employee pensions, and how they are doing to the pile.