Current and prospective employees alike are looking for jobs that will provide coverage for their health and dental needs as well as for the needs of their families.
Here are 4 reasons why a Group Benefit plan will help your business:
A Group Benefits Plan Helps to Retain and Attract Quality Staff
A quality employee helps the business run smoothly and efficiently. Without this employee how would your business run? How much would it cost to recruit and train someone to replace your valued employee?
A Group Benefit plan helps to protect your quality staff members who in turn recognize that you are putting forth your best efforts to ensure their health and the health of their families. This reduces turnover, decreases absenteeism, improves moral and increases productivity.
When hiring, a Group Benefit plan is a very useful tool in attracting the best candidates. A recent healthcare survey, done by Sanofi Canada, shows Group Benefits as one of the most important factors new candidates consider when choosing their employer.
It’s a Tax Write-Off
Employers pay between 50% to 100% of the Group Benefit premiums. Whatever the decision, the premiums paid are a tax-deductible expense for the business and thus are a cost-effective method of compensating your valued employees.
A raise of $1,000 would require the employee to pay taxes on the extra $1,000. $1,000 in Group Benefits would allow the employee access to the full $1,000. So, it is also tax efficient for the employee as well.
Improve Health and Wellness
Healthy employees are your most valuable asset. When you create a safe and healthy company culture it increases happiness and productivity in your workplace.
When staff are healthy they are less likely to get sick which reduces absenteeism, improves moral and increases employee involvement. In summary a healthy employee is a happy employee.
When staff are healthy they are less likely to get sick which reduces absenteeism, improves moral and increases employee involvement.
Easy to Set Up
Once we have decided on a Plan Design the Group Benefit program is easy to set up and use. Premiums are withdrawn from a pre-authorized debit and employees have access to all their Group Benefit resources on their Group Benefit App.
I pride myself on my servicing and will be there to help with every step: choosing a plan design structured for your business, implementing the plan that is the best fit for you and answering any questions you or your staff have. If you’d like to explore this further, please get in touch to request a free, no-obligation quote.