IC FBGCav
Footballguy
This has been happening over the last 10 years. The part of the company I am talking about is the Prototype Department. Usually the people flow from college to the business world but not in our case. Our Prototype Manager left in 2006 after 20 years of employment, to go back to work in a college materials lab. A year later he took his "boy" and now they are taking our Prototype Manager again. They don't teach but work with the students in the materials lab.
My company has been in business since 1967 with the same owner. We used to pay 100% health insurance, for employees and dependents, 401K matching, and LTD and life insurance.
About 2005 the costs of healthcare were too crushing so we only pay 80% of the employees healthcare, used to have 401K profit sharing and that is gone, and we still pay 100% on the rest.
The thing is all of them are moving to a position with less salary but with great benefits. Luckily they only have 3 people working in that lab.
In the end, there is no way we can compete as a small business even for those employees.
Understand this I am 100% happy for them and it is the right move for them but it said when we are losing highly skilled employees to shop.
My company has been in business since 1967 with the same owner. We used to pay 100% health insurance, for employees and dependents, 401K matching, and LTD and life insurance.
About 2005 the costs of healthcare were too crushing so we only pay 80% of the employees healthcare, used to have 401K profit sharing and that is gone, and we still pay 100% on the rest.
The thing is all of them are moving to a position with less salary but with great benefits. Luckily they only have 3 people working in that lab.
In the end, there is no way we can compete as a small business even for those employees.
Understand this I am 100% happy for them and it is the right move for them but it said when we are losing highly skilled employees to shop.
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