Employee Recognition

If you are a small entrepreneur, with more than a few employees, sooner or later the issue of a package with benefits are raised by the employees.

In a tight labor market, as we experience it in the fall of 2008 is one of the questions that ask a potential employee – Does your company offer employee benefits in a package?

And if there is a shortage of good employees, you do not want to those you already have or do not get to the new looseYou want, because you have no plan in place.

Some of the advantages of both financial and nonfinancial come with a performance package for your employees —

Benefits that a plan is an investment in the wellbeing of your company, but as an expense
a package of services increases morale and helps to attract and retain key employees
Benefits of a plan increases the productivity and the quality of staff
healthier employees reduce turnover and absenteeism
Disability insurance is a corporate policy in the event of injury or illness.
Provides a tax deductible alternative to an increase in the remuneration
Benefits are less expensive than a raise, because there are no further increases in the CPP EI or WCB payments.
Both employees and their families are under the plan

Small business owners often tell me they look at a plan, but found it was too expensive for them to implement. In most of these cases a full benefitsplan was proposed. I think that this is often like buying a Cadillac for your first car.
It would be nice, but the cost is just out of reach for most people, and so the idea that a car is completely abandoned.

What I usually suggest for new businesses, implementing a plan for the first time, is to start with just a few benefits that are both affordable and appreciated by employees.

If your company currently has no pension plan, call me to discuss the optionsTheir disposal to implement a plan for a number of possible options.

If you currently change your plan benefits, costs and value over time, bring the current plan, in addition to the industry, with products on the market. annual review of a package of benefits should be done to ensure that your company with the best price it can receive, dollar for your services.