How a Small City’s Employers Can Surmount a Big Test: Retirement Benefits
Perched near the western shore of Quebec’s Lac Saint-Jean, Saint-Félicien embodies small-city living at its best. The businesses in this 10,000-resident municipality face the same challenge confronting their big city counterparts: employee benefits. HUB’s retirement plan consultants for Saint-Félicien are equal to that task.
Employers in Saint-Félicien run the gamut from cafes to sizable manufacturers. Wood processing accounts for nearly one-quarter of the town’s manufacturing revenue, with food processors close behind. A chemical producer and furniture makers help round out the city’s manufacturing sector.
Tourism also provides a livelihood for many residents. Saint-Félicien’s Zoo Sauvage routinely wins plaudits from visitors. Top-notch skiing, hunting and fishing opportunities bring visitors to the city’s hotels and restaurants year-round. In every sector, with employers large and small, retirement benefit plans pose a challenge.
How Your Employees Benefit From Retirement Plan Consultants in Saint-Félicien
Decades ago, retirement plans boiled down to a monthly pension cheque after age 65. Direct deposits have replaced paper cheques, and a raft of financial options have joined traditional pensions.
Structuring retirement plans can stymie a large organization and swamp a small business. With HUB’s analytic expertise, employers of all sizes can phase in benefits at a manageable pace.
Even with plans up and running, educating the workforce becomes a fresh headache. Take group Registered Retirement Savings Plans as an example. An RRSP means little if your employees struggle to understand the finer points of contributions and tax consequences.
Partnering with HUB International closes the communication gap. From e-guides to online portals, the HUB team ensures that your business's retirement plans become more than benefits in name only.
Unique Benefit Insights With HUB
Elite employers have always sought to understand their employees’ retirement income needs. For decades, this effort relied on good-faith guesswork. Compounding the problem, workers in different age groups present varied challenges. HUB’s retirement plan consultants in Saint-Félicien have an answer: Workforce Persona Analysis.
Persona analysis is a barrier-breaking advance for the employer-to-worker relationship. Consider the personas of these workers:
- New Hires: Making the transition from school to the workforce fills most of the available bandwidth for this cohort.
- First-Time Parents: With these workers in the 26- to 34-year-old age group, benefits — including retirement packages — begin to edge onto their radar screen.
- Workers Nearing Retirement: Often the most productive and valued employees in an organization, this group has retirement benefits front and centre and expects their retirement package to perform with turnkey reliability.
Beyond this trio of examples, other workers will slot into different personas. With the insights from Workforce Persona Analysis, guesswork vanishes and the benefits package better align with workers’ genuine needs. Tailored benefits yield higher workforce morale and employee retention. Best of all, persona analysis squeezes the maximum value out of every dollar spent on the benefits.
How Your Business’s Leadership Benefits With Retirement Plan Consultants in Saint-Félicien
With larger organizations, benefits packages are essential for retaining management talent. Competition means that this goal is a constantly moving target. Thanks to its Canada-wide reach, HUB brings unique resources to this challenge. Along with full-spectrum retirement plans, HUB offers key person disability coverage and critical illness insurance.