A comprehensive employee benefits plan sets the foundation for a successful business, helping you to attract and retain valuable employees.
The business world can be competitive and cutthroat—protecting and providing for your employees will always be a key issue at heart of any business.
Together, we will sculpt a detailed Canadian employee benefits plan that takes into account the unique traits, personalities and life situations of your business and your team. Once we’ve got a strong sense of what your team prioritizes, we will go to bat for you to find the optimal plan design and negotiate with insurance companies to secure you the best rates possible. You’ll be surprised at how much flexibility and customization is possible when you work with an experienced employee benefits broker at Baker and Baker.
Every employer’s goal is to have a team of happy and healthy employees. For that reason, employers should take note of the link between physical and financial health. For example, the stress an employee may experience as the result of financial insecurity can directly result in lost productivity and excessive claims on a health plan. With comprehensive programs in place this stress can be relieved and you will see gains in productivity and reduced claims on health care. The result is an increase in morale and productivity while health costs an absenteeism are reduced.
Baker and Baker can help you explore every option and uncover every opportunity to secure rates that put you in a position to succeed.
Traditional Insured Benefits
Most comprehensive benefit programs have a traditional insured benefit component. In today’s marketplace this has become highly flexible and customizeable. Even small businesses don’t need a cookie cutter plan anymore.
Health Spending Accounts
Health spending accounts are becoming more and more popular in augmenting the traditional plan. Having the freedom to allow your team to spend benefit dollars where they need them most is very attractive in retaining top talented employees.
Recent research clearly shows that financial well being is an integral part of overall workplace satisfaction. Providing ways to help employees feel more financially secure leads to lower stress and higher productivity.
What is a good strategy to use when preparing employee benefits?
When preparing employee benefits there are four key factors.
- I need to attract and keep good people.
- I need to promote a happy healthy and productive work environment.
- My plan needs to be comprehensive yet affordable to the business.
- Physical and financial health are intrinsically linked. A good strategy considers both.
When will my employee benefits claim get paid?
Claims are paid almost instantly these days. It depends somewhat on how your plan is set up. Typical drug and dental claims are paid at point of purchase, and many other services can be claimed online minimizing turnaround and getting your money back quickly.
How many employees do I need to qualify for group benefits?
You only need a staff of two to make up a traditional group benefits plan, and it goes up from there.