In creating value, there’s only so many levers that we can pull. We love the big headline-grabbing ones, improve revenue, improve margins. But after that, then there’s what I like to call silent levers. One of the ones I love is employee benefit packages. If you take a creative approach to those, you can really create value within a company.
At one client, I came in, took a look at the employee benefit package and recognized it hadn’t changed over the last 10 years. I came in, came up with a creative solution to improve the package, yet still drive down costs. When we did that, employee morale improved, which also improved employee retention.
When you improve that employee retention, we create value within the company. To say nothing of the value created by the improved EBITDA.