Lease vs. Loan
Compare the differences between an equipment lease and a loan with our comparison table and make the right equipment acquisition choice for your business.
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By: Dina Beaucage, Content Marketing Manager
Think back to a time when you weren’t in charge…
Has a former boss ever provided you with an upgraded, top-of-the-line computer – or skid steer, auger, x-ray machine or some other awesome tool? If so, chances are good that you turned to a coworker with a smile and said something like, “Check out my new _____.” If this has happened to you, then you’ve experienced what I like to call “Equipment Engagement.”
No, experiencing Equipment Engagement doesn’t mean that you want to marry your equipment. It means, in my coined-a-phrase kinda way, that you are in love (or at least infatuated) with your new work tools. If you’re a business owner or manager, then you definitely want to learn more about the effect Equipment Engagement can have on your staff.
Think about how it feels to be in love. It feels good, right?
Maybe your honey takes you on a special date or sends you flowers. You suddenly feel appreciated and it makes you want to do nice things for your partner. Chances are, you even want to improve yourself. You know, work out a little harder, whiten those teeth and show up bringing your best self.
The funny thing is, the same thing can happen between you and your employees. Whoa! Don’t call HR…let’s be clear: I’m not saying you should court your staff…I’m just saying that relationships are give-and-take, and staff are more likely to enjoy their work when they feel appreciated.
There are oodles of ways to show your staff you appreciate them. CWB National Leasing is one of Canada’s Top 100 Employers, so we know a thing or two about building morale! Our leadership team provides periodic bonuses in the form of cash, time off, fun events, volunteer opportunities, and perhaps most importantly, the tools we need to be successful in our roles.
Shiny new tools can be a great way to show your staff how much you care. When staff feel appreciated, they’re happy, and when they’re happy, they’re productive.
How productive? A study by the UK’s Warwick University found that happy people are 12 per cent more productive on average, and Adobe’s Future of Work report found workers who considered their company’s technology to be cutting-edge felt twice as creative, motivated and valued.
Supplying your staff with new tools can make them happier and more inspired, and all you had to do is supply them with new equipment, (which your business needs anyway).
This is really a win-win situation. Actually, it’s win-win-win: your customers are more likely to get a better customer experience from your staff, which could improve their chance of providing valuable referrals!
I’m no expert in HR, but I am experienced in Marketing, and let me tell you, customers relaying their awesome experience with your brand via social media or word-of-mouth is the most valuable promotion you can earn.
“When you have happy employees, you have an engaged workforce,” says one of my rock star colleagues, CWB National Leasing’s Talent Acquisition Leader, Laine Jubinville. “Engaged employees talk about the brand more, and customers sense their excitement”
While providing new equipment leads to productive, enthused staff, some companies struggle to find the budget for a potentially large outlay of cash.
This is where CWB National Leasing comes in. Leasing equipment comes with a smaller (or sometimes no) outlay of cash, than buying equipment outright or securing a traditional loan. By leasing equipment, you can enjoy the increased productivity of your staff without damaging your cash flow.
Contact us to put Equipment Engagement to work in your business, creating motivated staff, with new, (or used) cutting-edge equipment.
If you’re wondering how our leasing process works or want to learn even more business benefits of leasing, check out this fun video that explains the process.
Posted in Equipment leasing advice,
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