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, yet increasing direct pay is an inefficient solution as a large percentage of salary increases is lost to various taxes.
A more effective approach for employers is to increase or initiate 401(k) contributions or matching, which offers employees a significantly higher long-term return due to tax-deferred growth.
Implementing or enhancing a 401(k) plan serves as a powerful incentive to attract and retain financially savvy and stable pilots, thereby reducing turnover, training costs, and improving the company's brand.

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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.