One Way You Can Retain and Recruit Employees

Thursday, December 23, 2021 at 07:58 AM ET

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There's great competition for sirline pilots. If you're an employer, there's a way you might be able to get the inside track. [Credit: Adobe Stock]

Key Takeaways:

The aviation industry faces a severe pilot shortage, but traditional pay raises are inefficient for recruiting and retention due to significant tax deductions.
Employer contributions to employee 401(k)s offer a superior financial incentive, providing significantly higher long-term value for employees through tax-deferred growth.
For employers, 401(k) contributions are a more cost-effective way to boost compensation, offering a much better return on investment than direct salary increases.
Attractive 401(k) plans help companies recruit and retain financially savvy and stable pilots, thereby reducing turnover and training costs.

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The aviation industry is desperately short on pilots. The airlines suffering from this are poaching aviators from wherever they can get them. This causes pain for corporate operators, regional airlines, and flight schools.

If you run one of those organizations, it’s likely that staffing keeps you up at night. There is a way to improve recruiting and retention, and do better by your people.