Employee benefit plans | Group benefits

Providing a competitive group benefits program is essential to:

ATTRACT AND RETAIN TOP TALENT

A lack of qualified employees could be costing your business more than you think. A well-designed group benefits package will help make your business more competitive, retain employees, recruit top talent, boost employee satisfaction and maintain productivity.

PROTECT A CRUCIAL ASSET: YOUR EMPLOYEES

While provincial health care programs provide Canadians access to doctors and emergency medical treatment, it does not cover everything. A group benefits program will help ensure that your employees and their dependents are adequately protected. Group disability and health benefits also ensure your investment is protected in case an employee becomes ill or injured.

MAINTAIN PRODUCTIVITY

Employees struggle to achieve a healthy work-life balance due to conflicting priorities. An Employee and Family Assistance Program, Employee Wellness Programs, Virtual Care and/or a Medical Second Opinion Program can provide outside resources, tools and the support employees need to keep a balanced state of mind and stay focused at work.

MAXIMIZE AFTER-TAX COMPENSATION

Without a group benefits program, employees must pay for prescription drugs, health care and dental expenses with after-tax income. Most employee benefits programs are designed to cover these expenses, leaving more money in your employees’ pockets. Employer contributions are also tax deductible.

Businesses are always trying to find ways to reduce costs. They have to make tough decisions to ease the financial burden and persevere through an ever-changing market. Thus, investing into employee benefits is often perceived as an expensive and unnecessary cost.

However, for employees, benefits are of significant importance. This is due to the fact that group insurance is an important form of compensation beyond hourly wages or salaries. Furthermore, the burden of drug costs on employees can cause unnecessary stress, and strain the quality of operations, which would hinder the competitiveness of your business.

Current studies have shown that a group benefits program is viewed by employees, at all levels, as being a major element in their total compensation. Since the employee marketplace is competitive, employees are choosing to go with companies that have comprehensive benefits rather than those without that competitive edge. For that reason, it is vital that employers who wish to retain their employees and attract qualified new employees provide a competitive group benefits program. The challenge is doing so at a competitive price!

We cover all your needs

Regardless of your industry, size or the complexity of your group benefits program, BFL CANADA, through a broad range of services, offers you solutions that support your corporate culture and allows your business to acquire and maintain a competitive edge.