Move Prevailing Wage Dollars Out of Payroll and Reduce Associated Costs
By constructing a bona fide fringe benefit plan, you’ll increase profits. Submit more competitive bids. Build employee loyalty.
DirectAdvisors maintains a thorough understanding of the laws governing prevailing wage in the construction industry.
Find out how DirectAdvisors can help you design and administer a bona fide benefit plan that meets federal and state contract compliance requirements.
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One of the biggest objections we face from merit shop contractors when introducing the idea of a bona fide prevailing wage benefit plan is that workers will quit or try to unionize once they no longer receive their fringe supplements in their paychecks.
Most people would attest to the fact that the first – and oftentimes only – piece of data that they look at when evaluating their investments’ performance is annual return.
All merit shop construction companies working on projects for federal, state or municipal governments have to make decisions on how to satisfy the fringe supplement portion of the prevailing wage law.