According to Statistics Canada, 14.5 million people go to work at a small or medium-sized business each day. With numbers like that, it's no wonder these employers are often referred to as the backbone of the Canadian economy.
Attracting and retaining the right talent
One of the keys to the success of a small or medium-sized business is the quality of your employees. An important tool to help you attract and retain talent is an employee group benefits plan. Three quarters of employers with between 20 and 100 employees offer some type of employee health benefits and that number rises to 93 percent for employers with 100 to 500 employees.
Overcoming your challenges
Making group benefits available to your small or medium-sized business can be a challenging task when you don't have the same resources that larger organizations do. That's why insurance carriers, third-party insurance administrators and advisors have developed products, services and administration tools just for you, helping you offer competitive group benefits tailored to the unique needs of you and your business.
Like any important business decision facing small and medium-sized employers, you should approach selecting an employee benefit plan with sound business practices and reasoning. Through understanding and identifying employee needs, asking the right questions, developing a employee group benefits strategy and forming/maintaining the right partnerships, you can successfully balance the expectations of your employees with the overall cost of providing benefits for your business.