Pit & Quarry, October 2015
LABOR SHORTAGE Worker magnets Tax laws may benefit producers in the ongoing effort to attract and keep quality employees BY MARK E BATTERSBY H ow can any aggregates mining operation hope to compete for the dwindling number of workers available in todays marketplace And how can any producer afford to keep the workers that are so essential to its success while competing for new workers to help it grow Survey after survey shows that it is not money alone that attracts new workers and keeps existing employees on the job It is the benefits And so long as our tax laws are followed closely the value of many fringe benefits can be excluded from an employees income and deducted by the employer But keep in mind no employer should ignore cash Cash is king People like being paid and not just cash salaries but also those all important bonuses Bonuses are a great way to reward the kind of performance an employer is looking for Recognizing the effort made by a worker or his or her contribution to the profitability of the operation is often included on any list of economical benefits offered by employers The classic saying that you get what you pay for is very true when it comes to compensation However no small business should provide competitive cash compensation in the absence of employee objectives Determining the appropriate level of cash compensation needed to attract and retain workers means employers should get a sense of what their competition is doing to bring in high quality employees If the aggregate operation establishes objectives that people will be rewarded for reaching or achieving thats exactly what they will do However unlike many fringe benefits bonuses and awards must be included in an employees taxable income 50 PIT QUARRY October 2015 www pitandquarry com ISTOCK COM 3DFOTO
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