Give your employees benefits and save money

Canadians love benefits. If you own your own business and you employ people start offering them a benefit package. I believed this was important to Canadians but I didn’t realise it was that important.

This may be a reason why small business find it difficult to keep good employees. I had this discussion with a plumbing business in Pickering this week. She mentioned that they are struggling to keep employees and I recommended she offer her employees a benefits package. Little did I know that the Globe and Mail would publish an article on this a few days later.

So pay your employees a fair salary but give them benefits they like them more than a salary increase.

We live in a great country!

COMPENSATION

Employees inflate value of benefits

Would you take $20,000 a year in cash in exchange for giving up all your employee health benefits?

According to a new survey of 1,700 Canadians with benefit plans, 61 per cent would say “no” to that offer – even though almost everyone surveyed knew their benefits are usually worth a fraction of this amount.

“It’s surprising – it tells us that people are putting a lot of importance on the security of a benefits plan,” said Jacques L’Espérance, a member the annual Sanofi-Aventis Healthcare Survey advisory board.

Click here to read more

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