The Benefits of Life in Burnaby
As the third-largest city in British Columbia, Burnaby boasts a growing population of around 250,000. The area is known for its beautiful outdoors, with over 6,000 acres dedicated to parkland, including Deer Lake and Mount Douglas Park, which consist of extensive woods, numerous lakes, walking trails, a skateboard park and a toboggan run. The natural draw of this area has created a built-in recruitment tool, reinforcing the need for companies to consider an employee benefits broker in Burnaby.
Technology is a big draw in Burnaby, as it is home to many of the world's leading tech companies. Education is also important, with the campuses of the British Columbia Institute of Technology and Simon Fraser University residing in Burnaby.
Burnaby is quickly becoming an internationally recognized hub in a wide range of sectors in addition to technology, including life sciences, alternative energy, film and television. The quality of life makes it an attractive place to live and work.
Why You Need an Employee Benefits Broker in Burnaby
Regardless of your industry sector, keeping a high level of employee morale in your company is crucial to maintain a competitive position. A strong benefits package is an important tool in recruitment and retention, both of which are critical components of a sound business strategy in a tight job market.
An employee benefits broker in Burnaby can help you to simultaneously attract high-quality talent and keep your current employees happy. Some of the many advantages of retaining a benefits broker include the following:
- Communication regarding compliance and benefits
- Contacts with top insurance agencies
- Creation of attractive benefits packages
- Ensured compliance with regulations
- Negotiation of business contracts
Business Advantages of Using a Broker
The specific needs of your individual organization create a blueprint for the employee benefits package that will most benefit your staff. Our consultants will consider your corporate goals, employee demographics, financial requirements and company culture to craft a package that will give your business a competitive edge in recruitment and retention. The following are three areas of focus for our brokers:
1. Cost Management
Traditional human resources strategies tend to rely heavily on robust compensation packages to recruit employees, but this can easily become a cost-prohibitive practice. Our brokers are experts on employee benefits trends in the Burnaby area and will assist you with cost management by pinpointing cash drains and crafting a benefits program to help you to reach your financial goals.
Our professionals can help you to maximize the use of HR technology to impact not only strategic benefits planning but also benefits compliance and administration. In addition, they will help you to focus on workforce absence management, healthcare costs and management of pharmacy benefits to improve your productivity and bottom line.
2. Engagement
Engaging and retaining your existing workforce is equally, if not more, important than recruiting new talent in a competitive labour market. Our brokers can help you create a comprehensive plan that will engage your employees throughout their work life cycle. We can assist with open enrollment, branding, change management, employee wellness, compensation statements, and the development of a mobile app and website to increase engagement and communication.
3. Personalization
Staffing shortages across industry sectors are creating hiring issues in a variety of companies. A sustainable benefits plan that fits your demographics, business goals and existing staff preferences can help to retain your current talent and attract new employees.