myFlex is ideally suited to small businesses with 3 – 35 people. That represents a very significant market. According to Industry Canada there are over 1 million businesses in this country with between 1 and 50 employees.
But myFlex is more ideally suited to some types of small businesses than others.For example, after selling the myFlex for several years now, we have seen the most success with in the Professional, Scientific and Technical Services sector. This sector includes businesses whose employees are highly skilled and require a high level of expertise, such as legal and accounting firms, medical offices and high-tech companies.
The most significant block of sales of myFlex in this sector has been to the high-tech industry.
In-force myFlex block by Industry and company size
The fact that myFlex has resonated most with the Professional, Scientific and Technical sector – and with high-tech in particular – isn’t surprising. Since these organizations rely on the knowledge and skills of their employees, competition for talent is tight, and organizations are willing to invest in attracting and retaining their top talent.
myFlex Benefits has also been popular in other industries as well, such as construction, manufacturing, retail and finance.
Businesses that choose to offer myFlex are looking for a competitive benefits plan that they can use to attract and retain good employees while still remaining conscious of their budget. They have diverse teams with unique needs who appreciate having different options to choose from. They look at their benefits plan as an investment rather than an expense.
There’s a big market out there for myFlex Benefits just waiting to learn more about the product and how it can help them achieve their goals.