Tools are the lifeblood of any good technician, so shops that help them buy and retain their tools are far more desirable. In fact, assistance with tool purchases is one of the top 10 priorities for auto, diesel, and collision technicians who are seeking new jobs (Hireology).
Adding a benefit that enables your technicians to expand and secure their tool collection is smart and mutually beneficial. In addition, it can really help with your recruiting and retention efforts. By adding a well-defined, quantifiable program to provide tools, you can highlight it in a way that reads more attractive than even paying your technicians more (i.e., a $1,500 tool allowance versus an extra 72 cents an hour).
Wondering where to start? There are many different ways to approach the creation of a new program, so we have gathered digestible information on the four most common types of tool programs:
Tool Allowance Program
A tool allowance program gives your technicians a regular payment for the purchase of tools. This program eliminates the technicians’ need to submit receipts or wait for reimbursement.
A tool reimbursement program is the most common option used today. It works by you, the shop, setting a monthly or annual tool limit. Your technicians purchase the tools they need, and then submit their receipts for reimbursement.
Milestone Tool Awards
Tools are a great way to help your technicians celebrate important milestones or anniversaries. Consider gifting tools or providing an allowance for things like first year anniversaries or certifications.
Graduate Tool Awards
Competition for graduating technicians from the best programs is steep, so it’s important to find a way to differentiate your shop from your competition. Tools are an easy way to do so without committing yourself to a higher hourly salary.
Need more help? Check out the article, How Tool Programs Help Shops & Technicians, on the WrenchWay blog.