www.remodeling.hw.net/industry-news.asp?sectionID=152&a -
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Published on: 4/1/2007
Last Visited: 4/3/2007
Toolchex president Gary Leavitt says employees receive, on average, an additional ,200 per month. ,The owner is giving his crew a raise without actually paying them more money,, Leavitt explains.
CHECK ONE, CHECK TWO
Take the example of an employee making ,15 per hour.If enrolled in the plan, he receives two checks: one check from his employer for time and labor of ,10 per hour with the usual taxes deducted; and a second check based on a portion of his salary, in this example, ,5 per hour, but without taxes deducted and minus the 10% administration fee that Toolchex charges.
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We take digital pictures and fill out an inventory booklet to track the tools they own,, Leavitt says.
A company owner can offer the tool plan to his employees, and Toolchex handles the payroll deductions and paperwork. ,We have an enrollment meeting with the crew,, Leavitt says. ,They decide if they want to join the program.,
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