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 simply increasing direct pay is an inefficient retention strategy due to significant tax deductions reducing the actual benefit to employees.
Employer contributions to 401(k) plans offer a more financially powerful and effective compensation incentive, providing substantially higher long-term value to employees compared to an equivalent salary increase.
Adopting strong 401(k) benefits helps employers attract and retain financially savvy, stable pilots, thereby reducing turnover, training costs, and enhancing 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.