In a recent Construction Business Owner article, titled “Harnessing the Power of Supplemental Unemployment Benefit Plans”, Jeff Bennett shares what you need to know about supplemental unemployment benefit plans (SUB plans) and how they can encourage loyalty and enhance business.

This article breaks down what a supplemental unemployment benefit plan (SUB plan) is, the details behind how they work, and some thoughts on how to best execute these plans. SUB plans provide compensation to employees in addition to state unemployment during layoff periods. They are particularly well suited for contractors that commonly have interruptions in their work that might cause a reduced need for labor. They are also great for contractors that are subject to prevailing wage rules and regulations. These plans can help employers keep loyal hardworking employees satisfied and can enhance business. However, it is crucial that they are designed correctly, as there are many nuances to consider. Jeff’s extensive expertise on the subject, along with his specialty in prevailing wage solutions, offers valuable insights as he explains the essential details of SUB plans.  

“Acquiring and keeping skilled workers has become a critical factor in most contractors’ growth potential. Laying off valuable workers during an interruption can have unintended consequences, such as morale issues resulting from reduced income or even employees finding work elsewhere with a competitor.”

–Jeff Bennett, Senior Vice President and Prevailing Wage Specialist – Latham, NY

HUB offers a variety of products and solutions tailored to the construction industry, with specialist advisors like Jeff standing by to assist employers. One such offering, HUB Prevailing Wage Solutions, helps non-union contractors administer the complicated fringe benefit portion of prevailing wage regulations to prevent any misunderstanding or misapplication. See what HUB Prevailing Wage Solutions can do for your company.  

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