Universal Forest Products recently became the latest company West Michigan company to announce it was expanding employee benefits because of tax reform.
The Grand Rapids Business Journal reports, “… we believe that our comprehensive program for compensation and benefits will help us improve retention by 10 percent, which in turn will improve the efficiency of our operations and reduce excessive overtime,” said Matt Missad, CEO of Universal Forest Products.
Under the expansion, employees will be able to select the benefits that best meet their, and their families needs. Universal Forest Products Spokeswoman Lynn Afendoulis said the broader choice could include more options for health benefits, disability coverage, life insurance, maternity and paternity leave and so on — but it will depend on what the employees request.
Universal Forest Products joins SpartanNash, Mill Steel Co., FTCH Engineering, Consumers Energy, DTE, and Chrysler as some of the Michigan companies that have already responded to tax reform by issuing bonuses, raising wages, expanding benefits, or passing savings on to consumers.