Advantages of having an Employee Benefits plan

Owning a small or mid-sized business can mean wearing many different hats. One day you’re talking product benefits to customers, the next you’re discussing finances at the bank, and the next you might even be found organizing the stock room. You do so much for your company to ensure success, you may want to also consider including an employee benefits plan.

These are just a few ways your small or mid-sized business can benefit from introducing an employee benefits plan.

• A way to attract and retain top talent: A lot is said about growing and retaining your customer base as a small business owner. But what is equally important is keeping your top employees. An employee benefits plan is a great incentive for your employees to want to stay with your company and can even be used as a way to attract even more great talent as your business grows.
• A way to protect your employees and increase productivity: Keeping your employees safe and healthy increases productivity in the workplace. An employee benefits plan provides coverage that your employees will use to ensure optimal health which in turn reduces stress. A healthy employee is a more efficient employee.
• A way to create a work environment that is future focused: An employee benefits plan is an investment in your business. It shows that you are committed to making the business succeed and that you have confidence in the people you have put in place to achieve this. With an eye on the future of your business and the health and well-being of your employees, you are setting the foundation for success.
• A way to thank and empower your employees: Running a small business can often mean extra work and dedication from everyone involved. A comprehensive employee benefits plan can reward and thank your employees for all of their hard work and commitment.

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A trusted employee benefits advisor at Dobson & Toncic can walk you through various group health benefits plan options that are available to your business.

They say, if you build it, they will come. But for many plan sponsors who have instituted wellness programs as part of a robust benefits plan, awareness and participation in those programs has remained low. So what can an employer do to activate awareness and encourage employees to take advantage of the numerous benefits available to them through wellness programs? The advisory board from the Sanofi Canada Healthcare Survey has a simple solution: start back at the beginning.

The Beginning of Wellness Programs

Wellness programs have been a part of the benefits plan conversation for at least 20 years. In the early years, a lot of this conversation revolved around figuring out the mechanics, such as which programs to include and the limits on those programs. Participation was promoted but it was mostly a one-way street from the employer to the employee. This imbalance caused low enthusiasm towards the programs that were designed to activate a healthier and happier workplace.

Who is Taking Advantage of Wellness Programs?

The aim of a wellness program is to reach those people who need the benefits most. Research shows that younger, healthier people are most likely to participate in the programs currently offered in the workplace. But are these the people who stand to benefit the most from wellness programs? And what barriers are standing in the way of those people who would benefit the most?

An Understanding of the Benefits of Wellness Programs

The roadblock between wellness programs and the people who need it most appears to be not in the system itself, but in the dialogue surrounding it. This is why experts are suggesting to employers that want to maximize the benefits from their wellness programs, that they start reframing the conversation around wellness programs in their own workplace. Wellness programs have long been thought of as “extras” but for a program to truly achieve its intended purposes, those services included must be given the proper weight and attention.

What is the Secret to Getting More Employees Participating in a Wellness Program?

Perhaps the biggest reason anyone does anything is because of personal gain. In the conversation around wellness programs, the reasoning is no different. Employees demonstrate a high level of willingness to participate in programs that identify and address personal health risks. Therefore, employers can play a vital role in highlighting this correlation.

When employees are educated and empowered with the information they need to make informed decisions about the programs they participate in, the entire workplace can benefit. Employees that feel well, will in turn, be more productive and contribute more to a successful workplace.