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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

September/October 2021

Hiring When Your Budget's Tight

Senior man holding a message board with the text words Hire me

If your business’s profits declined during the pandemic, you may be looking for ways to build momentum. And that may involve hiring new employees. The challenge is to obtain the expertise that your business needs in the most cost-efficient way possible. Hiring an older worker may be the answer.


The Stability Factor
Recruiting, hiring and training new workers is an expensive venture. An older candidate who has already spent years in the workforce will tend to stay on the job longer than a younger employee whose goal is to follow the money. The experienced employee may be a more cost-effective hire, even though that person may earn a higher salary.


Experience Counts
Knowledge and critical thinking skils gained from many years on the job mean an older hire may need very little training to perform effectively at your business. The person may have had valuable experience working as part of a team and be willing to mentor younger staff, taking some of the burden off you and other managers and reduce the need for costly training programs.


Consider Flexibility
With their children grown, older workers may have fewer obligations, enabling them to focus more of their energy on the job. They may welcome flexible work hours and have the ability to work overtime to finish a project.


Potential Benefits Savings
An older hire may not need health insurance. By hiring someone who is enrolled in Medicare, your business will save money on costly benefits.


The Advantages of Old School
Older workers began their careers before email and text messaging were part of the workplace landscape, so they often have superior communication and people skills and strong professional networks. Their interpersonal skills may help build relationships with customers and vendors that will increase your business's revenue and improve the bottom line.


Need a Part-Timer?
An older worker may welcome the opportunity to work part time if your current budget won't support a full-time position. In addition to getting an experienced employee your company will save money on benefits, for which part-time workers typically won't qualify.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
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