Established
in 1975, Texas Book Company is one of the largest companies servicing the College Textbook industry.
Every Employee Counts -
Taking Care of Their Benefits Adds to the Bottom Line
In the spring of 2010, Texas Book Company was approached by The Principal Financial Group with a wonderful opportunity. The Principal Financial Group was launching a National Advertising Campaign and wanted to highlight TBC's success in "stepping-it-up" during these difficult economic times. When other companies were being forced to make cuts, Texas Book Company was looking for ways to take care of their employees and provide even more. The complete story and television commercial can be viewed below.
EVERY EMPLOYEE COUNTS
TAKING CARE OF THEIR BENEFITS ADDS TO THE BOTTOM LINE
HOW DID THIS BUSINESS REVAMP THEIR EMPLOYEE BENEFITS IN THE MIDDLE OF THE RECESSION?
AUTHOR AND FINANCIAL EXPERT JEAN CHATZKY FOUND OUT.
In tough economic times, businesses often have to make cuts. But Texas Book Company, which buys and sells college textbooks, took a different approach to dealing with the recession. They got creative.
When Jean Chatzky met with the company’s CEO, Brent Dyer, and CFO, Tom Steel, it was immediately evident that both men recognize the role their 300-plus employees have played in the business’s success. They explained to Jean that, when faced with renewing the company’s benefits package, instead of signing on the dotted line and passing a 10% price increase
to their valued team, they sat down with their benefits advisor and reviewed their options with a fine-toothed comb. That careful consideration allowed them to fi ll holes in the plan’s offerings and provide options that employees were requesting, including health savings accounts (HSAs) and voluntary benefits, like disability insurance, without a price increase–and during a recession, no less. Jean says that providing a wide-reaching and generous benefi ts package gives companies like Texas Book a leg up when it comes to recruitment and retention. According to Tom and Brent, she’s absolutely correct–Texas Book’s employees are happier than ever.
To find out more about how Texas Book Company met the challenges of a shaky economy, watch their video below.
