Greater Reading Chamber Commerce Quarterly Fall 2017 - 14

feature continued...

Katie Carpenter,
HR Manager,
TRIOSE, Inc.
Do you feel that the strain
of the recession negatively
impacted the wages and benefits
you were able to offer your
employees in comparison to
neighboring competitors?

Has the cost of healthcare
benefits affected the
wages you are able to offer
incoming employees?

What type of supplementary
or non-traditional benefits
does your company offer
employees to set you apart
from the competition?

We all struggle to make informed
decisions that balance employee
expectations with the needs of
the company. What resources
are you using to create a fair
and competitive compensation
and benefits plan? What types
of resources would you like
to see, but have yet to find?

14  COMMERCE QUARTERLY   FALL 2017

We did have to make changes in order to give ourselves our best opportunity to ride out
the recession. We had to make a 10% reduction in salary or benefits expenses and we
actually gave our employees the option of which they collectively preferred. Our philosophy
has always been to keep health insurance as affordable for employees as possible, so we
had to find that balance during the recession. I do not think we were in a vacuum as all
organizations in our space had to deal with the same issues. It did negatively impact us
at the time, but it made us more efficient and when the market turned, we were able to
increase our total compensation package to attract the talent we needed to grow.
Yes and no. Because the cost of healthcare continues to rise, we have to take that into
consideration when designing a total compensation package for an incoming employee.
Instead of offering a base salary that is in the 90th percentile of market, we may offer
somewhere closer to the middle because, as an organization, we pay an individual's
monthly health insurance premium 100% and we keep the maximum annual out of pocket
expense for healthcare to $900 for an individual employee by contributing to the health
savings account. We are self-insured and once our team member meets the deductible,
our plan pays 100% of the healthcare charges. We show them that equivalent in dollars
and what we're actually saving them annually out of pocket. Healthcare benefits are top
of mind to most employees and we strive to keep that in consideration when we build
our packages for incoming team members.

It's all about the total benefits and compensation offering when it comes to setting ourselves apart. We contribute to their 401K regardless of their participation. In terms of
supplemental insurance, we provide short term and long term disability along with life
insurance at no cost to the employee. We contribute to their Health Savings Accounts
as well. We also offer a Give 5 Program, which gives our employees the opportunity to
volunteer and give back to the community - all of our employees receive 4 hours of
paid volunteer time per month. We also have a wellness program for our employees to
participate in - if the employee participates in wellness events and activities, they can
earn additional contributions to their HSA over and above the standard contribution
that all employees receive. Employees also can help themselves to free fruit in the kitchen
once a week.

We use a database and compensation management tool called Payscale to help us design
competitive total compensation packages based on the market, the position, level of
experience, etc., based on our compensation strategy and philosophy. This tool has
helped us to build a strategy for total compensation and gives us the market data we
need in order to offer prospective team members a compensation plan that meets their
needs and expectations as well.



Table of Contents for the Digital Edition of Greater Reading Chamber Commerce Quarterly Fall 2017

Greater Reading Chamber Commerce Quarterly Fall 2017 - 1
Greater Reading Chamber Commerce Quarterly Fall 2017 - 2
Greater Reading Chamber Commerce Quarterly Fall 2017 - 3
Greater Reading Chamber Commerce Quarterly Fall 2017 - 4
Greater Reading Chamber Commerce Quarterly Fall 2017 - 5
Greater Reading Chamber Commerce Quarterly Fall 2017 - 6
Greater Reading Chamber Commerce Quarterly Fall 2017 - 7
Greater Reading Chamber Commerce Quarterly Fall 2017 - 8
Greater Reading Chamber Commerce Quarterly Fall 2017 - 9
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 12
Greater Reading Chamber Commerce Quarterly Fall 2017 - 13
Greater Reading Chamber Commerce Quarterly Fall 2017 - 14
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 16
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 18
Greater Reading Chamber Commerce Quarterly Fall 2017 - 19
Greater Reading Chamber Commerce Quarterly Fall 2017 - 20
Greater Reading Chamber Commerce Quarterly Fall 2017 - 21
Greater Reading Chamber Commerce Quarterly Fall 2017 - 22
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 24
Greater Reading Chamber Commerce Quarterly Fall 2017 - 25
Greater Reading Chamber Commerce Quarterly Fall 2017 - 26
Greater Reading Chamber Commerce Quarterly Fall 2017 - 27
Greater Reading Chamber Commerce Quarterly Fall 2017 - 28
Greater Reading Chamber Commerce Quarterly Fall 2017 - 29
Greater Reading Chamber Commerce Quarterly Fall 2017 - 30
Greater Reading Chamber Commerce Quarterly Fall 2017 - 31
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 33
Greater Reading Chamber Commerce Quarterly Fall 2017 - 34
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 40
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 43
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 50
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 55
Greater Reading Chamber Commerce Quarterly Fall 2017 - 56
Greater Reading Chamber Commerce Quarterly Fall 2017 - 57
Greater Reading Chamber Commerce Quarterly Fall 2017 - 58
Greater Reading Chamber Commerce Quarterly Fall 2017 - 59
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Greater Reading Chamber Commerce Quarterly Fall 2017 - 63
Greater Reading Chamber Commerce Quarterly Fall 2017 - 64
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2021
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2020
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2019
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Fall2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Summer2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Spring2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GRCA_CommerceQuarterly_Winter2018
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Fall2017
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Summer2017
https://www.nxtbook.com/hoffmann/GreaterReadingChamber_CommerceQuarterly/GreaterReadingChamber_CommerceQuarterly_Spring2017
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