When you offer a group benefits plan to your employees, it could increase engagement more than giving employees a raise in pay for three major reasons:
- Benefits can be a tax-effective way to compensate your employees—health and dental benefits are tax-free for employees in all provinces except Quebec (other exceptions may apply)
- You can help protect the well-being of your employees and their families by helping them manage their health and wellness and by creating a sense of security and belonging
- You can improve employee appreciation and loyalty by tangibly conveying your support for your employees beyond their day-to-day work
If you’re starting to look at group benefits plans, here are some options to consider for your company and your employees:
- Comprehensive and flexible group benefits plans, including pharmacy benefits, health care and dental care
- Short and long-term disability insurance can provide employees with income replacement should they become disabled due to an injury or an illness
- Group critical illness benefits to provide a non-taxable lump-sum payment following the diagnosis of a covered illness
- Employee and family assistance programs to help employees manage stress and achieve work-life balance
- Tools that can help employees steer their way through the healthcare system and may give them access to world-class doctors when they need a second opinion
- Information and resources on detecting and managing the most common mental health issues.
- Online tools to inform, encourage and support your employees in leading a healthier lifestyle