As a business owner, you would never launch a new product or expansion without first understanding the marketplace and current business environment. Similarly, you need to understand your employee needs and what they are looking for before making any decisions about your employee benefits plans.
1. Conduct a benchmarking exercise to determine what employee benefit plans other employers in your sector are offering. General information is often available from Chambers of Commerce and the Conference Board of Canada;
2. Conduct a survey to determine your employee needs, health, preferences and expectations of your group benefits plan;
3. Review the demographic profile of your employees and previous claims experience (if available) to identify the needs of the workforce and determine options that will meet the requirements and expectations of the largest number of employees.