Making Prevailing Wage Contractors More Successful
How does it work?
Many companies don't have the knowledge when it comes to prevailing wage jobs and how they can save their company money. With the help of a Supplemental Unemployment Benefit Plan for your company, it provides valuable income replacement for employees experiencing involuntary work stoppage. In the construction industry it is a common occurrence that there are employees that have seasonal layoffs and short work periods. Learn more about how your company and your employees can benefit from their fringe dollars.
Benefit for Employees
Construction employees are aware of some of the involuntary missed work or unpredictable events that happen within this industry. With a SUB Plan it provides cash benefits out of an account held by the employees name to ensure income when it would be lost during a time of not being able to work. With a plan like this it can help reassure employees that they will have an income during these hard financial times. These benefit payments from the SUB Plan are typically the same or more than what the employee would receive if the fringe dollars where paid towards their paychecks, this is when the knowledge of our service comes into play. We want to help not only the employees of the company but we can also help the employer.
Benefits for Employers
Taking a look at these SUB Plans it's also important to acknowledge the ways that an employer can benefit from these plans. By directing those fringe dollars into a SUB Plan, the employers save on payroll taxes and it could even reduce the employers general liability and workers compensation costs. This plan helps the employer take those fringe dollars off of payroll, as a result of avoiding the tax "penalty" of paying fringe benefits dollars as cash. The biggest pay off from these plans is the process of retaining and attracting employees and the ability to save hundreds to thousands of dollars. This plan provides the employer a sense of reassurance during unpredictable events, on the other hand it also provides the employees peace of mind when they don't have work. The best employers are those that understand the needs and wants of their employees and how they can provide the best experience. With more knowledge of these SUB Plan it can help your business save money when it comes to prevailing wage jobs. NeuBridg can provide a roadmap for your business in order to become successful while having a good working environment. For more information please contact us!!
About NeuBridg
Help Both Employer and Employee
Interested or questions? Contact us for more information!
Help Both Employer and Employee
NeuBridg helps those employers navigate prevailing wage jobs in relation to finding numerous ways that employers and employees can benefit from on these jobs. Your employees with a SUB Plan will enjoy the opportunity to have a more consistent compensation during unpredictable events.
What is a SUB Plan?
Interested or questions? Contact us for more information!
Help Both Employer and Employee
If your company is interested in prevailing wage work, Neubridg can offer a SUB plan that is a tax-free option for employers. On behalf of the employees at the company, those who contribute fringe benefit dollars will go directly into the plan.
Interested or questions? Contact us for more information!
Interested or questions? Contact us for more information!
Interested or questions? Contact us for more information!
Neubridg offers numerous benefits for both the employer and the employee that can help when there is a unpredictable event. For more information please contact us!