Next to salary, having a good employee benefits plan is one of the best ways for you to attract and retain employees. A group benefit plan allows your employees and their loved ones to have security around health benefits.

Running a successful business, keeping employees happy and attracting new talent can be difficult. For a busy business owner, a big part of your value proposition are the individuals that work at your company.

Employee Benefits are non-cash compensation paid to an employee.

Why employee benefits make smart business sense:

  • Save money and time

  • Increase the wellness and productivity of your employees

  • Be competitive and attract new employees and key talent

  • Provide a solid framework for the future

  • Form a part of your business’ value proposition

  • Increase employee engagement

There are a number of employee benefits and perks that can be valued more than pay raises:

  • Health Benefits (ex. medical, dental, life disability insurance)

  • Retirement/Pension Plan

  • Vacation/Paid Time Off

  • Performance Bonus

  • Paid Sick Days

  • Flexible Schedule (ex. work from home)

  • Office Perks (ex. Casual dress, free lunch)

  • Employee Development Programs (ex. Professional development, on-the-job training)

  • Tuition Reimbursement

  • Employee Discounts

  • Gym Membership or Wellness Program

  • Stock, Stock Options and/or Equity

  • Paid Parental Leave (ex. Maternity leave, adoption assistance)

  • Child care Assistance (ex. On-site Childcare, Financial Assistance)

  • Commuter Assistance (ex. Company shuttle, commuter checks)

  • Diversity Program

Next to salary, health benefits coverage is the most important tool in attracting and retaining key staff. 59% of employees would rather keep benefits coverage than receive a $10,000 raise. (2011 Sanofi-Aventis Healthcare survey)

How to get started?

  • Establish and define the advisor-client relationship.

  • Gather information about current your employer-employee situation and establish goals.

  • Analyze and evaluate current employer-employee status.

  • Your advisor will develop and present strategies and solutions to achieve goals.

  • Your advisor will implement recommendations.

  • Your advisor will monitor and review recommendations. Adjust if necessary.

Next steps…

  • Talk to us about helping put together an employees benefit package that makes smart business sense.

Dowco Financial serves clients in Langley, Surrey, Vancouver, White Rock, Delta, Richmond, Maple Ridge, Coquitlam, Burnaby, North Vancouver, West Vancouver, and across the Lower Mainland.