Promote Recruitment and Retention by Offering Benefits
The majority of small- and medium-sized employers in Canada offer benefits plans to employees. As of 2021, 94% of Canadian employers offer coverage such as employment insurance, extended medical benefits and spending accounts. The median amount of employment benefits for employees in Saint-Félicien in 2020 was $6,860. An employee benefits broker in Saint-Félicien can provide information about benefits that can attract new hires and retain skilled employees at firms in the Saguenay-Lac-Saint-Jean region.
Why Contact an Employee Benefits Broker in Saint-Félicien
The rate of labour force participation in Saint-Félicien was 58.1% in 2016, which is slightly lower than the national average of 63.74%. Businesses that offer benefits in Le Domaine-du-Roy Regional County Municipality are better able to recruit qualified applicants. A HUB International insurance broker can recommend policies for employers in any sector.
Here are three reasons to consult a broker about benefits that go above and beyond the level of coverage available through national and provincial programs:
- Build Custom Coverage: Employers can develop benefits packages that meet the needs of any workforce. Options for flexible and voluntary benefits enable small- to medium-sized businesses to provide employees with more options for coverage.
- Compare Policy Costs: A HUB broker can provide quotes for any type of employee benefits, including extended healthcare and spending accounts. The number of employees and the unique exposures of an employment sector can impact policy pricing.
- Plan For the Future: Brokers specialize in strategic planning, which takes a long-term perspective. A three-to-five-year plan that incorporates analytics and performance evaluation allows for the most cost-effective approach to providing benefits.
Competitive Benefits in the MRC Le Domaine-du-Roy Municipality
The largest employment sectors in Saint-Félicien include retail trade, health care, trades and manufacturing. Firms operating in these sectors compete for qualified employees in a region with a population of 10,089 in 2021 and an employment rate of 53.1% as of 2016. Learn more about some of the most popular benefits employees in Quebec at looking for:
- Extended Healthcare: Pharmacy benefits and paramedical coverage for dental and vision care are among the most popular benefits for Canadian employees. Ask a HUB International insurance broker about options for out-of-country coverage or other ancillary health benefits.
- Flexible Coverage: Many large employers offer employees options for benefits on a pay-as-you-use model or reduced rates on popular voluntary policies. An increasing number of off-the-shelf flexible plans are becoming available for employees of small- to medium-sized businesses.
- Health Care Spending Accounts: HSAs are tax-free pooled accounts that enable employees to use pre-allocated funds for a range of health-related expenses identified by the Canada Revenue Agency. These accounts are helpful for covering paramedical or personal care expenses excluded from other policies.
- Lifestyle Spending Accounts: LSAs are taxable accounts that can be used for wellness expenses such as gym memberships or wellness-related costs associated with pet care or vacation time. Money from these accounts is taxed based on employees' marginal income tax rate.
An employee benefits broker in Saint-Félicien can provide quotes for any of these policies or other types of coverage. The number of employees at a business and shared exposures to risks factor into premiums, deductibles and other policy costs.