Employee Benefits That Attract and Retain Talent Across Your Marine Business
By Capt. Brett M. Sause
The marine industry is evolving—fast. Boats are becoming more complex, customer expectations are rising and across the board, from the service bay to the front office, from yacht yards to marinas, one challenge continues to surface: finding—and keeping—good people.
While much of the conversation has centered on the shortage of skilled marine technicians, the reality is broader. Service advisors, dockhands, parts managers, captains, sales professionals and administrative staff are all in high demand. Today’s employees have more options than ever before.
The uncomfortable truth is this: many marine businesses are not losing talent over wages alone. They are losing talent because they lack structure in how they approach employee benefits.
Beyond the Paycheck
For decades, compensation in the boating and maritime industry has largely been defined by hourly wages or salary. That model worked when competition for talent was limited, but that’s no longer the case.
Today’s workforce—regardless of position—is thinking differently. Employees are asking: What does my future look like here? Am I protected if something goes wrong? Is this a place I can build a career, or just collect a paycheck?
If those questions are not clearly answered, employees will look elsewhere—often to industries that offer more structured benefits.
The Cost Misconception
One of the biggest barriers preventing marine business owners from upgrading benefits is the belief that it is simply too expensive. Many owners feel that, due to their lack of knowledge in this area, the perceived cost far outweighs the actual value delivered to the business and its owner.
On the surface, that assumption feels reasonable. Benefits can appear complicated, but the issue is rarely the actual cost—it is the lack of proper design and expertise. When benefits are approached without guidance, they can feel expensive and confusing. When designed correctly, however, they become cost-controlled, scalable, highly effective at retaining employees and often tax-efficient for the business owner.
Retirement Plans: Building Long-Term Loyalty
A well-designed retirement plan—such as a 401(k) or SIMPLE IRA with employer matching—remains one of the most powerful tools available. A modest 3–5% match sends a clear message that you value every team member’s future. It helps employees think long-term and see your business as part of their career path, while providing potential tax advantages to the owner.
Disability Coverage: Protecting Income and Operations
Work in the boating, yacht yard and marina industry carries real risks. Short-term and long-term disability coverage protects employees’ income when injury or illness strikes, replacing 60–70% of earnings during recovery. This protection is not just compassionate—it delivers operational stability by reducing forced turnover and maintaining team continuity.
Supplemental Benefits That Make a Difference
Layer in targeted supplemental benefits to round out the package. One highly flexible option is an IRS Section 162 executive bonus plan, which allows you to provide tax-deductible bonuses to key employees (lead technicians, service managers, captains or other high-performers) for personally owned life insurance policies. This selective approach helps retain top talent while offering them portable wealth-building benefits.
Other valuable perks include health/dental/vision contributions, professional development reimbursement (ABYC, manufacturer training, captain’s licensing), tool allowances, performance bonuses, flexible scheduling and lifestyle extras such as family boat days or staff dock privileges.
The Bottom-Line Payoff
The real cost of inaction is far higher than implementing benefits. Turnover is expensive—recruiting, training, lost productivity and customer disruption add up quickly. A stable, experienced team delivers better service, higher customer satisfaction and stronger profitability.
Marine business owners: take time this season to review your benefits. Because navigating retirement plans, disability coverage, Section 162 plans and supplemental options can feel complex, working with a qualified financial advisor and/or planner who specializes in the marine and small-business benefits space is highly recommended. The right professional can design a package that fits your budget, maximizes tax efficiency and truly moves the needle on attraction and retention.
The businesses that will lead the marine industry in the years ahead will be defined not only by craftsmanship and customer service, but by how well they take care of their people. Employee benefits are no longer a luxury—they are a necessity for building a stable, thriving marine operation.
Capt. Brett Sause, AIF®, Certified Financial Fiduciary®, is the CEO and founder of AFG Wealth in Easton, Maryland, and founder of The Marine Minute. A U.S. Coast Guard Master Captain, Brett has spent much of his life working in and around the marine industry. He specializes in financial planning, retirement planning, protection planning and wealth management for business owners, families and professionals.
