It’s safe to say that you’re always looking to make smart strategic decisions for your business. You’re constantly looking to save money while staying competitive in your industry. Part of maintaining your competitive edge is retaining key employees, usually through bonuses and/or raises.
The concept is straightforward; you reward an employee’s good work with a raise. However, consider this: that raise actually costs you more when you take into account pay-roll taxes like CPP/QPP, EI, etc. Not to mention the value of that raise to the employee is greatly reduced due to federal and provincial taxes.
On the other hand, by offering your employees a group benefits plan, you’re giving them medical and financial peace of mind. In all provinces except Quebec, employees receive health and dental benefits tax-free and your contributions as a business owner are considered a tax deduction.
Not only does this help retain valued staff, it works to attract any prospective employees in the future.
If the idea of rewarding your employees with tax-effective benefits interests you, contact us today to see how we can customize a plan based on your needs and budget.
Top 10 Reasons for having a Group Benefits Program
Here are ten reasons why introducing a Group Benefits plan will help your business remain strong.
- You get a competitive edge in the job market
- You get a cost-effective method of providing employees with coverage for medical/dental bills – protecting employees and their families
- You get a tax-deductible business expense.
- You build morale and enthusiasm among your employees by demonstrating your concern for their well-being.
- You provide financial protection for your employees and their families.
- You provide a tax-effective form of compensation to your employees.
- You help employees alleviate the added burden of government cost-shifting.
- You address the special needs of some employees with coverage available without any medical questionnaires to complete.
- You will have access to services like counselling referral programs that help employees deal with issues stemming from work or home.
- You will get peace of mind in knowing that both you, your employees and their families are well taken care of.
Ready to get started?
Complete the form to the left for a no obligation quote.
Request for Quote
For a detailed quote for Group Benefits please download our convienent fillable form.
Once completed fax to 1-866-274-1751, we will contact you shortly to review options available to you.