Let’s face it—raising wages isn’t a long-term solution for BC trades businesses right now. With rising material costs, U.S. trade tariffs, and economic uncertainty, you can’t afford to keep increasing wages every time you need to retain talent. But here’s the thing — you don’t have to.
Instead of blowing your budget on unsustainable wage hikes, you can offer Total Rewards Packages that give your employees real value without killing your bottom line. Benefits like mental health support, telehealth, flexible schedules, and family support can significantly reduce absenteeism, turnover, and productivity losses — all while keeping your payroll costs stable.
So before you consider handing out another $3-$5 per hour raise, read this. Here’s how Total Rewards Packages can actually save you money and offset rising costs in your trades business.
1. Mental Health Support Prevents Costly Absenteeism and Turnover
Why it matters: In 2022, a SHRM survey found that 91% of U.S. employers now offer mental health coverage, and 93% offer telehealth benefits. Why? Because mental health issues are one of the leading causes of absenteeism — and absenteeism is expensive.
If your employee is struggling mentally, they’ll either:
- Call in sick.
- Make costly mistakes on the job.
- Quit for a less stressful role.
What you can do instead of a wage increase:
- Offer Employee Assistance Programs (EAPs) for free, confidential mental health support.
- Subsidize gym memberships or wellness programs.
- Provide subscriptions to apps like Headspace, Calm, or virtual therapy.
✅ How this saves you money:
- Fewer sick days.
- Fewer workplace accidents.
- Less turnover (which saves you $15,000-$30,000 per replaced employee).
👉 Cost Control Tip: Offering mental health support could reduce absenteeism by up to 15% (Workplace Strategies for Mental Health, 2022). That’s thousands saved.
2. Telehealth Reduces Productivity Loss and Overtime Costs
Why it matters: When employees get sick, they typically need a day off to see a doctor — leaving you short-staffed. Telehealth eliminates that problem.
Telehealth platforms like FelixHealth, Dialogue, or iHealthOX allow your employees to get same-day doctor appointments from their phone without leaving the job site.
What you can do instead of a wage increase:
- Partner with a telehealth provider.
- Offer a Healthcare Spending Account (HCSA) to cover telehealth costs.
- Encourage employees to use virtual therapy or mental health services.
✅ How this saves you money:
- Fewer sick days.
- Reduced reliance on overtime.
- Less downtime for routine medical issues.
👉 Cost Control Tip: Businesses using telehealth reduce absenteeism costs by 20-30% (Telehealth Industry Report, 2022).
3. Flexible Work Options Cut Overtime and Turnover Costs
Why it matters: Your employees don’t always need a raise — they need better work-life balance. Offering flexible work options like adjusted start times, 4-day workweeks, or easier access to time off keeps employees happy without blowing your payroll.
What you can do instead of a wage increase:
- Offer compressed workweeks (four 10-hour days).
- Provide flexible start/end times.
- Allow paid personal days for family needs.
✅ How this saves you money:
- Lower turnover — Happier employees stay longer.
- Less absenteeism — Employees don’t call in sick just to manage personal tasks.
- Reduced overtime costs — Better scheduling prevents staffing shortages.
👉 Cost Control Tip: Offering flexible work options can reduce turnover costs by 20-30% per employee (WorldatWork, 2022).
4. Supporting Family Responsibilities Prevents Expensive Turnover
Why it matters: Over 60% of trades workers are also caregivers—whether it’s for kids, aging parents, or other dependents. When these responsibilities get overwhelming, employees quit.
But if you offer family-friendly benefits, you can prevent turnover and retain your best talent.
What you can do instead of a wage increase:
- Offer childcare subsidies or spending accounts.
- Provide paid leave for caregiving emergencies.
- Allow paid sick days for family needs.
✅ How this saves you money:
- Retain top talent instead of constantly rehiring.
- Lower absenteeism from family-related issues.
- Reduced turnover costs (saving you $15,000-$30,000 per replaced worker).
👉 Cost Control Tip: Retaining one skilled worker saves you $15,000-$30,000 in turnover costs (CPHR Canada, 2024).
5. Offering Family Planning Benefits Prevents Workforce Gaps
Why it matters: Employees planning families (fertility treatments, adoption, surrogacy, etc.) often quit for employers offering family support. If you don’t offer it, you’ll lose them.
What you can do instead of a wage increase:
- Offer fertility benefits (IVF, egg freezing, surrogacy, adoption support).
- Provide paid parental leave for both parents.
- Cover the cost of family planning consultations.
✅ How this saves you money:
- Reduced turnover during critical life changes.
- Higher loyalty from employees who feel supported.
- Reduced rehiring costs (saving $15,000-$30,000 per role).
👉 Cost Control Tip: Businesses offering fertility benefits reduce voluntary turnover by 25% (WorldatWork, 2023).
Final Thoughts: Stop Increasing Wages — Offer Total Rewards Instead
The hard truth? You can’t keep up with wage inflation. Increasing pay by $3-$5/hour is unsustainable — and it doesn’t even guarantee loyalty. But offering high-impact Total Rewards Packages like mental health support, telehealth, family care, and flexible schedules can save you tens of thousands annually.
Let’s do the math:
- ✅ Reduce absenteeism = fewer overtime costs.
- ✅ Prevent turnover = save $15,000-$30,000 per replaced employee.
- ✅ Reduce downtime = increase productivity.
👉 Bottom Line: A strategic Total Rewards Package can cut your costs by 20-30% while keeping your workforce happy — without increasing wages.
Want help building a cost-effective Total Rewards Package for your trades business? I specialize in helping BC trades and SMBs control costs while keeping their workforce loyal and productive.
👉 Contact me today and let’s design a package that saves you money without raising wages.
Rebelution HR Consulting LTD. 