Good employee benefits are the KEY to being a competitive employer!
Employee benefits are such a key part of your ability to recruit and retain great employees that getting them right isn’t an option anymore. It’s a requirement. That means your business needs to understand what matters to your employees now, so that you can attract and retain the right people you need to grow your business.
“Basic” coverage has a new meaning.
Canadian businesses have historically done a good job of providing basic “locked down” coverage: simple health and dental plans, short-term and long-term disability coverage, and some critical illness protection. But “basic” benefits just won’t cut it anymore.
Employees needs have changed.
Flexibility has become an important requirement for group plans. Canadian employees want the ability to make their own coverage decisions, and they want coverage that protects their life outside of work. The increasing popularity of Health Spending Accounts and now, Wellness Spending Accounts are both indicators of these broader trends.
Fortunately, your business benefits too!
The good news is that increased flexibility and broader coverage for employees can mean containing costs and increasing employee productivity. Health Spending Accounts, for instance, essentially cap certain healthcare benefits costs and return unused funds back to your pocket, making your coverage that much more efficient and creating cost stability for your business.
Is your current benefits provider talking to you about these changes?