Taivi Tayler, Tayler Insurance & Estate Planning
You have secured new contracts, invested in equipment and built a skilled crew. But growing a construction business takes more than winning projects. It takes keeping the tradespeople who deliver the work.
For medium-sized construction employers, losing an experienced employee can disrupt schedules, strain the remaining crew and create recruitment and training costs.
Sometimes, employees leave for higher wages. Other times, the deciding factor is something you intended to offer but never got around to: group benefits.
Give employees a reason to stay
Competitive wages matter, but employees also consider how their compensation supports their family. A tradesperson comparing employers may ask: Who will help cover my children’s dental care? What happens if I need expensive medication? Can I afford treatment when my shoulder starts giving me trouble?
A well-designed group benefits plan can help answer those questions. Depending on the plan, coverage may include prescription drugs, dental care, vision care, physiotherapy and massage therapy. These benefits can help employers attract and retain employees.
For employees, that means practical support. For employers, it adds value beyond the paycheque.
Help with everyday family expenses
Life is expensive, even for well-paid tradespeople. Mortgage payments, groceries, transportation and raising children can leave little room for unexpected health expenses.
Family dental checkups, prescription medication and new glasses may seem like ordinary purchases. Together, however, they can strain a household budget.
Helping with these costs shows employees that you recognize their responsibilities beyond the job site. Benefits that support a spouse or children can become a meaningful reason to stay.
Support those doing physical work
Construction demands strength, mobility and endurance. Tradespeople spend their days lifting, kneeling, climbing and working in awkward positions.
Coverage for eligible physiotherapy or massage therapy can make professional care more affordable. Employees have financial support to seek an assessment and appropriate treatment instead of putting it off because of cost.
For example, a $500 annual allowance for an eligible therapy could provide meaningful assistance. Its value depends on reimbursement percentages, treatment costs and whether the allowance applies to each practitioner or is shared across services.
The goal is to make care more accessible, without promising that a particular treatment will resolve every injury.
Look beyond health and dental
Benefits planning should also consider what happens when an employee cannot work.
Depending on the coverage selected, disability insurance may provide income support during an eligible absence caused by illness or injury. Short-term and long-term disability coverage can work together to support employees during disability leave.
For a family relying on that income, this protection deserves consideration alongside everyday health benefits.
Build a sustainable plan
You do not need every available benefit to create a valuable package. Start with your workforce’s priorities and a budget your business can maintain.
Review family coverage, reimbursement limits and how premiums will be shared. Explain the plan when hiring and remind existing employees what is available. Your crew needs to understand the benefits to appreciate their value.
Your tradespeople help build your business. Investing in their well-being gives them another reason to build their future with you.
Contact Taivi Tayler, RRC®, CLU®, MFA-P™, CERTIFIED FINANCIAL PLANNER®, at Tayler Insurance & Estate Planning to explore group benefits, as well as critical illness and disability coverage for your construction team. Visit taylerinsurance.com.