The benefits of a job retention model such as TeamWork NorthWest are numerous, both financially and socially. In the TeamWork region alone, welfare savings are expected to be about $300,000 per year. The workers become wage earners and tax payers. They also begin participating more fully in the regional economy through their increased purchasing power. And they set a wonderful example for their children, who can continue the movement away from generational poverty. Cascade Engineering reports a savings of about $742,000 per year in reduced welfare costs alone from its retention program.
On the company’s part, a big part of the benefit stems from cost savings associated with reduced turnover. There are significant other benefits, as well, including the things listed below.
Benefits to the employer include:
- Increased productivity
- Reduced turnover costs
- Increased training opportunities for staff
- Improved company morale
- Improved access to community resources
- Community recognition
Benefits to taxpayers and communities include:
- Increased taxes paid to support local, state & national priorities
- Increased purchasing power by employees who are earning income
- Strengthened families for participating employees
- Lower social support costs for communities, including reduced & eliminated welfare costs
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