As a small business, offering benefits can have a huge impact on the talent you attract, and how you engage and retain employees, and the importance of meeting the health needs of employees is becoming even more important as our workforce ages, with the largest generation - baby boomers - nearing retirement, and their healthcare needs become more complex. Offering a benefits plan to your employees not only protects them and their interest, but also helps protect your business by allowing employees to get back on their feet quicker after they are sick or injured.
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With three-quarters of employers with between 20 and 100 employees offer some type of health benefits and that number rises to 93 percent for employers of between 100 and 500 employees, offering some type of benefits plan is key to finding and retaining talent, especially as your business tries to remain competitive within your industry. In fact, in a 2016 Canada health survey, 77% of respondents say they wouldn’t move to a job that didn’t include health benefits.
Healthcare, dental, prescription drug coverage, life insurance and dependent life insurance are all forms of group benefits which you could provide to attract and retain employees. However, making group benefits available to employees can often be difficult for small and medium-sized businesses who do not have the resources or economies of scale that larger organizations do to secure cost-effective rates and coverage options.
Through our partnership with Green Benefits Group, BarterPay Niagara Members have access to the BarterPay Niagara Benefits program, an affordable, competitive and sustainable benefits plan tailored to small businesses like yours with two (2) or more employees.
While the average employer spends between $200 and $250 per employee per month on their employee benefits, we are proud to be able to offer full life, health and dental plans that start as low as $84 per employee, per month. Beyond the essential insurance benefits, you also have the ability to enhance your benefit offerings by adding flexible options for a few dollars more per week. Learn more about some of the plan coverage options in our BPN Benefits Guide.
For more information or to inquire about what benefits solution will work best for your business, contact:
Ian McLeod at Green Benefits Group Inc.