March/April 2009, Contractor Advantage Magazine
How To Succeed In Tough Times
Your best employees are your best asset during a downturn and keeping them should be among your highest priorities.
By Mark Beckham
There are at least two situations that I know of when the real character of a person comes to the surface.
The first is on the golf course. If you play the game you know what I mean. People who you mistakenly think are honest suddenly convert triple bogeys into pars on the scorecard. And do not forget the foot wedge. Or the mulligan. Or the gimme.
The other is during economic downturns such as the one we are currently experiencing.
The late, great football coach Vince Lombardi once stated that "winning is a habit. Watch your thoughts, they become your beliefs. Watch your beliefs, they become your words. Watch your words, they become your actions. Watch your actions, they become your habits. Watch your habits, they become your character."
What is your character? I am a firm believer that in times like these the cream rises to the top. Anyone can do well in good times. It is during tough times that we show our true character. Your habits, actions, words, beliefs and thoughts demonstrate to clients and prospects that you will be the go-to person when things turn around.
In tough times as well as in good times, you should always be paying attention to your business. Do not try to save your way to prosperity. Instead, look for ways to prevent loss.
Do not cut back on what brings business in (your marketing efforts). Do not cut your sales force. In fact, when sales are harder to find, invest more in all the ways you find sales and grow your sales. Find ways to boost your bottom line and grow your market share without cutting service.
I have said it before, but it is even more important in a slump: your best employees are your best asset and keeping them should be among your highest priorities. One of the ways to keep your best employees is to offer an employee benefits program.
In the January/February issue of Contractor Advantage we explored the employee benefits of the Bronze program offered through Castlecare. In this issue I will explain the increased coverage provided by the Silver and Gold plans.
The Silver and Gold plans simply have lower coinsurance levels and higher maximums. As you would expect, a better program brings with it increased costs. Just like ice cream and pie, all the plans are good just some are better than others!
In the Silver and Gold Plans, Life, Accidental Death and Dismemberment insurance increases from $25,000 to $35,000 (Silver) and to $50,000 (Gold). Dependent Life and Critical Illness are the same for all plans. Extended health Care increases from 70% coinsurance (Bronze) to 80% (Silver) and 100% (Gold). Drug maximums increase as well from $1,000/person/year to $2,500 (Silver) and $10,000 (Gold). Semi Private hospital is added to the Silver and Bronze plans and a $150 Vision benefit (Glasses) and an increase to $500 for paramedical services is added to Gold. Dental Silver plan is enhanced to 100% coinsurance. The Gold plan in addition to the 100% coinsurance also has major benefits providing coverage for Crowns and Bridges and an increased maximum to $1,500 per mouth in your family.
Each plan has good coverage. Essentially it comes down to cost, particularly now. So go to www.castlecare.ca, review the offering and send us you information. We will send back a no obligation quote. I assure you a hassle free experience with benefits beyond the plan itself.
Apart from that key employee, what have you got to lose?
ARCHIVES: Castlecare articles in Contractor Advantage magazine
March/April 2009 How to succeed in tough times
January/February 2009 The Bronze Benefits Plan
November/December 2008 Can you spare 15 minutes?
September/October 2008 It may not be sexy but insurance really matters
July/August 2008 What to look for in a broker
May/June 2008 Benefits can make a difference
March/April 2008 Major expansion plans
January/February 2008 Health Care now available
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