Thousands, no, millions of people search for jobs daily, whether they are new to the job field or a seasoned employee looking for a new role. While they’d love for the job they land to have good wages they’re also looking to see which employers have attractive benefits packages.
Yes, you read correctly. Benefits packages are important. Balance Careers defines benefits packages as a standard and expected part of the total compensation package. They also go on to note that unfortunately smaller companies tend to offer fewer components or none at all compared to bigger companies.
A survey of Canadians, done by Benecaid in November 2009, revealed that 90 percent say that the availability of an employee benefits plan plays a role in their decision to accept a job. That’s a pretty high percentage.
If you’re a business owner, big or small, and you’re looking to attract and retain the right talent. Here are some benefits to implementing a benefit plan for you and your employees:
For Employers:
- Foster retention and attract employees
- Better job performance
- Protect your investment in your employees
- Tax incentives for offering health insurance to employees
For Employees:
- Opportunity to obtain basic coverage for all without evidence of insurability
- Lower costs
- Cost sharing with the employer
