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 significant pilot shortage, making effective recruitment and retention strategies critical for various operators.
Direct pay increases are an inefficient incentive for employees due to substantial tax deductions, resulting in a much smaller net gain for the pilot compared to the employer's cost.
Employer contributions to 401(k) plans are a more financially powerful and effective incentive, offering employees significant long-term growth through tax deferral and a much higher return on investment for the employer.
Offering attractive 401(k) benefits helps companies recruit financially savvy pilots who are more likely to stay long-term, thereby reducing costly employee churn and training expenses.

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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.