What do over 50% of Canadian Businesses have in common?

Did you know that almost 55% of Canadian Businesses have less than 4 employees?  

Yet finding a group benefits plan that works well for a small business can be a challenge. Many fully insured plans aren’t available to businesses with so few employees or come with limited options.

To add to that, small businesses are often implementing group benefits for the first time, and that means lots of questions, resources, and necessary support, which is where a Benefits Consultant like myself shines.

Why would you want to offer Employee Benefits?

With our even tighter labour market, employees are looking for more from their employers.  According to a recent survey, 68% of employees are more than willing to move to another employer if they offer a benefit package or a better package than they currently have.

What Small Business Employee Benefits Should You Have? 

The answer to this varies, as not all small businesses are the same.  However, in order to remain competitive in your industry and attract and retain top talent, you’ll likely want to consider what others are offering and match or exceed them. 

We looked at our own block of business, comprised of small business, to identify which benefits were favoured by our clients for their employees.  Here’s what we found were the most common employee benefits among small businesses: 

• Extended Health Care (Prescription Drugs, Chiropractors, Registered Message Therapists) 
• Dental Insurance 
• Life and Dependent Life Insurance 
• Accidental Death and Dismemberment (AD&D) Insurance 
• Health Spending Accounts or Wellness Spending Accounts.

So, where do you begin?  That is a great question.  Let’s have a 10 minute chat and discuss how we are able to help you attract and retain your top talent while being competitive and help to protect you from Employee Liability.