Are You A Competitive Employer?

Submitted by Michelle Dreier,
Member Engagemt/Gov't Affairs Manager

Many contractors think about winning that next bid.  They analyze ways to save on materials, provide the best customer experience, and hopefully win repeat business and referrals from happy clients along the way.
Do you think of your employees with the same type of vigor?

There is a talent shortage in the electrical industry. Members are still calling me looking for journeyworkers, but unemployed journeyworker electricians are hard to find. There are lots of individuals looking for entry level apprenticeships, and if you need one give me a call. The focus of this article is on keeping the talent you have or attracting new talent by being an employer of choice.

Have you participated in our wage survey in the past?  Every other year we send out a survey asking about electrical contractor compensation packages. We compile this information into anonymous data organized by region so contractors can see how their wage and benefit packages compare to the competition. Look for the survey to hit your mailbox later this month. Participation is voluntary, but you won’t get your free copy if you don’t participate.  How often do you get to see what the shop down the road is paying?

Have you thought about your retirement and that of your staff?  We are partnering with Northwestern Lumber Association to bring you a 401K program without the hassle! Stand-alone traditional 401 (k) programs are expensive to create and time consuming to manage.  Our program is already created and ready for you to join! Fiduciary liability, plan expenses, and many administrative activities including managing audits will be managed by the program. Members can enjoy and provide the benefits of a traditional 401(k) plan including matching contributions and safe harbor options at a fraction of the cost of operating a single company sponsored plan. Membership with the Electrical Association is required. LEARN MORE (pdf)

Do you offer health insurance?  Are you looking for a more economical option? Or perhaps you’d like to increase offerings, flexibility, and coverage while simplifying the amount of paperwork and decision making that go into offering that precious insurance that keeps your electricians safe and healthy.  Electrical Association is putting together a program to help you! We’ve partnered with North Risk Partners to create new member benefit revealed in 2021 to provide even more value for your dues dollars. ICHRA will be available January 1 in a plan called Trovia. This type of insurance plan allows for a lot of flexibility. It is a pre-tax plan that can reduce employer’s FICA costs and employee’s state and federal tax amounts. The beauty of this plan is it allows the employer to manage their health care spend and it allows the employee more flexibility in choice of coverage. We’re also exploring an Association Health Plan which may be available later in 2021. Membership with the Electrical Association is required. Call us to see how a package will benefit you! LEARN MORE (pdf)

Employees consider health insurance and benefits when accepting a job as well as when considering leaving for another shop. Use our Wage & Benefit Report to discover where your wages fall in comparison to others in your area. Use our benefit options to enhance your competitive edge. Offering benefits is key in attracting and keeping the electrical talent you have worked so hard to develop. Here at the Electrical Association we are wishing you a phenomenal 2021!