Crew Employment - Feedback from the Show
Recently when we attended the Monaco Yacht Show on a number of occasions we were asked what we thought of the idea that some Yacht Crew employment companies, employ all the crew from different yachts through one employment company. To be honest we answered with some dismay and responded... what happens if the owner on one yacht can't pay the crew, what happens to all the other crew, will they be paid?
Here at Bachmann, we have been employing marine crew for over 45 years working on everything from luxury Transatlantic Liners to some of the worlds most expensive Superyachts and to be honest, there is little we don't know about paying crew. That is why for all our yacht crew we put each yacht and their crew in to a Protected Cell structure, a Hub & Spoke system, where the assets (crew) of each cell is protected from all the other cells and the Hub (Core) of the company. Each cell has its own bank account and should anything happen to a yacht within the protected system, it has minimal effect on the other yachts.
Sounds expensive, you may ask... not really, Bachmann do not charge a fee to set up the employment for a crew member and issue an SEA unlike others. We just charge a percentage of the crew members salary to administer their employment. Bank charges are levied at cost and so only the Protected Cell needs to be paid for and you will be surprised at how cost effective that is.
For more details on how we employ crew, give Nick Saul a call on +44 (0)1481 731059