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January 31, 2007 - NEWS
Open Shop Benefit Plan Improvements
In today’s hypercompetitive construction economy, the most valuable resource a company has is skilled workers. The key to retaining a company’s human resources is more than simply high hourly wages. Employee benefits have become as important to employees as take-home pay.
The open shop construction industry has always recognized the value of employee benefits, and in response to the demands of more than 600 participating employers, the trustees of the Construction Industry's Benefit Plan have decided to make significant improvements to the plan’s design, including a 10 per cent increase in long-term disability coverage and the introduction of an Employee Assistance Program.
“This year the trustees polled the contractors, and were committed to meeting their demands for better employee benefits without increasing premium rates. The plan is extremely healthy, so we were able to make improvements without affecting our $0.94 per hour rate, which has prevailed for the last four years,” Construction Industry's Benefit Plan chair Philip Hochstein said.
ICBA has been offering the Construction Industry's Benefit Plan for more than 20 years, and it now covers over 6,000 employees. It recently reached a milestone of recording one million hours worked over a single month by those covered by the plan.
If you would like more information about enrolling in the Construction Industry's Benefit Plan, contact Dave Rockliff at 604-298-7795 or email him at
dave@icba.bc.ca
| ICBA is the voice of BC's construction industry. For further information, or if you have any questions or comments regarding this article, please contact ICBA. |
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