Is Paid Leave Part of Your Contracting Business Plan?

As a small business owner, you may not be thinking much about the benefits that you can offer your future employees. But it’s becoming more apparent that if you want to hire the best and have a chance of keeping them, paid leave can be a big incentive. Here are a few reasons to consider incorporating paid leave into your contracting business plan.

Employees Need Flexibility
These days, hardly anyone has another adult at home who can attend to sick children or a new baby. Most of your employees will need flexibility at least on occasion. Offering flexibility pays off in ways that you might not expect. For example, the construction industry has some of the lowest rates of vaccination against COVID-19. One of the reasons many people say they haven’t got the vaccine is that they are worried about side effects and don’t feel like they can take time off to attend to them. But not getting the vaccine puts people and their employers at risk from a potentially deadly virus. If you offer paid leave, your employees may be able to better protect themselves and you.

You Deserve Time Off for Big Things
Before you start your contracting business, it’s hard to imagine that you would have time that you could take off from a project. But for many people, it’s a necessity. And you don’t necessarily have to have a large business to make it work. In truth, many small businesses fail because the owner does not provide themselves the time they need to rest and recover from the workweek, much less an illness or family concern. If you can understand the importance of taking breaks for yourself, it’s easier to apply that philosophy to your employees.

Work-Life Balance Is Important
You’ve probably known people for whom work is life. You might even be that kind of person, at least from time to time. But as you get older, you realize that working yourself to death is no way to live. The longer you push everything else to the sidelines, the more likely those issues are to become worse and pushed to the forefront. It’s much more reasonable, and better for the longevity of your business, to maintain a work-life balance that allows you to attend to your needs outside of work. You may need to be firmer in setting schedules with clients, but you’ll be glad you created that habit in the first place.

You’ll Be Able to Attract Better Talent
In an industry with a serious shortage of talent, you’ve got to have every benefit you can. Right now, workers with the right skills and experience can go almost anywhere they want. Businesses put their future success on the line with the things that they offer potential employees. If you can list paid leave along with salary and other benefits, you’ll be more likely to attract applicants who are in it for the long haul. You’ll also meet the minimum requirements they need to even consider working for you.

Benefits Improve Employee Retention
In this environment, it’s hard to find good, reliable employees. But it’s even harder to keep them. You can offer every kind of enticement to get people in the door. In order to ensure that they don’t walk back out after a year or two, you’ll need to provide the kind of flexibility and stability that they might get somewhere else as well. Paid leave gives a kind of security that isn’t a default expectation in the construction industry. Your best employees will take notice of that, and they’ll be less likely to go looking for other opportunities.

If you can offer your employees good benefits, they’ll be more likely to stay and do better work for you. Paid leave is a great way to ensure that your contracting business makes it to the future. For more tips on getting started, contact CSLS today!