Developing a Unique Group Benefits Package for your Diverse Business

Developing a unique group benefits package for your diverse business can seem daunting given the current employment landscape. Unemployment is down and the competition for top employees is just as important as the competition for new business. Attracting and retaining quality employees is a challenge at the best of times. This is why developing a unique group benefits package can set your business apart from the competition.

One of the most important factors in the decision-making process for employees is the benefits package. Employee’s value health/dental insurance, paid leave and other perks sometimes more than the number on their paycheque. There are a few employee benefits considered standard and would be available with any group benefits plan:

  • Extended health insurance
  • Dental coverage
  • Prescription drug coverage
  • Massage therapy
  • Eye exams

Once you have established a foundation that covers the basic needs of your employees, you can start exploring unique group benefits that will help your organization stand out. Start by examining the demographics of your workforce and what benefits they will value most. Recent college graduates will have different needs than an aging work force. Here are a few ideas to consider when developing a unique group benefits package for your diverse business:

  • Student loan repayment plans
  • Public transportation reimbursement
  • Pet Insurance
  • Gym passes
  • Childcare allowances
  • Vacation reimbursement

Flexible work schedules are seen as the most important benefit by today’s employees. To learn more about flexible work schedules and other great benefits to offer, check out our article on The Best Employee Benefits and Perks to Offer Canadian Employees.

These are just a few suggestions to consider. It is important not to try and match other company’s offerings just because they happen to have a perk or benefit you haven’t thought of. You need to develop the ideal benefits package that suits your workforce and their unique needs. For a complimentary assessment and identification of potential gaps in your current group benefits offering, contact the employee retention experts at DENT Benefits today!

The information in this material is derived from various sources. Material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources; however, no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please contact us for benefit, pension and insurance advice based on your corporate or personal circumstances.

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