How to Stay Competitive with Your Compensation Package

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How to Stay Competitive with Your Compensation PackageThe current driver shortage, low unemployment rates, and competition for skilled workers make attracting and retaining employees difficult. Whether you’re hiring office personnel or drivers, it’s essential to offer competitive compensation. Your wage and benefit package must appeal to job seekers and keep current staff satisfied. After all, training new employees only to see them head down the street to a competitor’s job site isn’t good for your portable restroom business. A robust compensation strategy plays a vital role in keeping your team intact.

Explore the Types of Employee Compensation

Many portable restroom operators use hourly or salaried rates. Regardless of your type of compensation, it needs to be an amount that the employee views as fair. Workers want to feel appreciated, so staying competitive with local wages is necessary. PROs who offer different forms of payment gain an edge in the job-seeking market. Typical compensation in the portable restroom industry includes:

  • Paying employees by the hour
  • Creating salaried positions for office employees
  • Offering commission rates per completed service
  • Using an hourly wage with incentives tied to productivity

PROs find that boosting hourly rates with incentives encourages efficiency. This combination offers staff a way to earn additional income and provides a better value. Operators add reward programs, such as safety bonuses, as a way to ensure that employees aren’t rushing to be productive and sacrificing safety.

Offer Bonus Plans

PROs with small budgets struggle to compete with companies offering large sign-on bonuses or higher hourly rates. However, portable restroom businesses stay competitive by adding incentive programs that benefit staff and company alike. Performance-based bonuses work year-round to keep employees engaged and invested in your company. Consider including:

  • Monthly or quarterly safety bonuses
  • Incentives for new business referrals
  • Awards for stellar customer service and top drivers

By setting clear goals and providing a financial incentive, PROs increase worker efficiency. Job seekers view bonuses as a way to earn additional money, while current employees feel their hard work is appreciated.

Choose Benefits Wisely

A majority of job seekers consider a benefits package as essential. However, the rising costs of insurance impact your budget. Investing in benefits, even the bare minimum, helps entice potential employees. Beyond that, PROs need to get creative.

A bare minimum benefits package includes paid vacations and holidays. It’s even better if you can offer paid sick leave and health insurance. Draw even more applicants by including profit sharing, 401(k), and disability insurance. If you can’t upgrade your benefits, think outside the box.

Start with a survey of your staff. Employees perceive value in a family-friendly workplace with flexible hours or remote options. When possible (most likely during the slow season), consider allowing four 10-hour shifts for drivers or offering office personnel the opportunity to work remotely a half day each week. These aren’t typical benefits but add real value to a compensation package.

Consider Discount Programs

Tight budgets make it difficult to offer higher wages and benefits. Consequently, smaller portable restroom companies fail to stay competitive. Employers add value by using relevant discount programs to pad their compensation package. Whether it’s a $20 local discount card or a $100 annual membership, there are options to suit all types of needs. Try:

  • A membership for a local gym or family recreation center
  • Shopping discount cards or yearly club membership
  • A subscription to Amazon Prime
  • Community discount cards, which offer savings at local restaurants

Finding and keeping experienced employees isn’t easy in today’s job climate. Appeal to skilled workers by combining fair wages, incentives, and benefits. A successful compensation strategy delivers value to the employee. By getting creative and exploring all your options, you’ll be able to draw skilled workers and retain employees.

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