How Labor Employees Find Value In 401k’s, Direct Deposit, and Simple Savings Plans

Over the years, we’ve fielded countless questions from frustrated business owners, and one theme that always comes up is employee engagement.

How do I make employees feel valued?
How do I make them feel truly connected to what we’re trying to accomplish?

These questions are at the heart of workplace culture—and this coming week, while speaking at the Build Expo in Dallas, I fully expect to hear them again.

Before we dive into today’s story, I want to encourage you to check out The Dickie and Donny Show on the BOP Podcast. Hosted by our coaches Shawn and Brandon, it’s a whimsical, lighthearted take on the real frustrations business owners face. They manage to keep it fun while sharing valuable insights—and once you listen to a few episodes, you’ll get it. Look for the episodes titled Dickie and Donny; you won’t regret it.

And stick around until the end of this post—I’ve got a resource for you that can help boost your employee engagement strategy.

A True Story About Engagement and Value

When Coastal Shores Landscaping decided to take a closer look at the lives of their labor crews, they discovered a significant financial challenge many of their team members were facing.

At the time, the company had 20–25 crew members (and has grown since), but many were cashing their paychecks at the local grocery store every Friday.

On the surface, this seemed convenient. In reality, it was costing employees far more than they realized.

The fees from cashing checks added up to about one full week’s salary—sometimes more—per year, per employee. And that was just the start. Having a pocket full of cash heading into the weekend often led to impulsive spending, leaving little for savings or essential family needs.

The Shift to Direct Deposit

Once they recognized the problem, Coastal Shores took action. Starting the following October, they implemented a mandatory direct deposit policy for all employees.

This change tackled multiple issues at once:

1. Dignity of a Bank Account – The company brought a banker onsite to open accounts for free for every employee. For many, this was their first real step into accessing a wider range of financial services.
2. Reduced Impulsive Spending – With money deposited directly into their accounts, employees had to make a conscious decision to withdraw funds instead of having cash on hand right away.
3. Holiday Savings Made Simple – They launched a Christmas savings program, setting up a designated account for employees to save a small amount each month. This eliminated the need for last-minute borrowing or piling up credit card debt during the holidays—allowing employees to enjoy the season without financial regret.

Building a Culture of Financial Wellness

But Coastal Shores didn’t stop there.

They expanded their program to include 401(k) accounts, giving employees the ability to save for their futures. The results were remarkable—among their field teams and labor crews, participation in the 401(k) plan hit 98%.

Financial literacy training became a core part of their employee program, giving team members not only the tools to do their jobs well, but also the knowledge to manage their personal finances better.

Life and Business Intersect

Coastal Shores understands a fundamental truth: life and business are deeply connected. By investing in their employees’ overall well-being, they created a workforce that is not only more skilled, but also more financially stable and personally satisfied.

The impact? A win-win for the business and its people.

Where to Start

I know what you might be thinking: “401(k) plans? Savings programs? Where do we even begin?”

It can feel overwhelming—but that’s why we’re here.

If you’re a business owner with three or more employees and at least $1 million in revenue, schedule a 15–20 minute call with one of our BOP coaches. We’ll answer your questions and, if you’re curious, show you how we can work together to build engagement programs that make sense for your team.

👉 Go to businessonpurpose.com/ask to get clarity on how to start engaging your employees today. 

Scott Beebe is the founder of Business On Purpose (mybusinessonpurpose.com) and speaker for the AEC industry and author of the book Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, and Build a Business That Matters. Business On Purpose works with business owners to articulate purpose, people, process, and profit to liberate owners from chaos and make time for what matters most.