We have all been there at one time or another, you know that part of the job interview when you either ask what kind of health benefits program the company has or you are telling a potential employee about the employee health benefits program your company offers as part of their compensation package.
This can be a make or break part of the interview process. In this day and age a fair salary is not enough anymore. Potential employees are looking for the comfort in knowing that their families medical expenses will be covered. In the need of knowing that if they are struck with big dental or medical bill, there will be some sort of relief for them financially.
"You can't please everyone" is something that my grandmother use to tell me all the time. In the case of finding the perfect fit for your companies benefits program, that saying couldn't be more true. You need to know what your core objectives are when looking for the right plan to suit the majority of your staff. These are the 3 questions to ask yourself when looking for employee health benefits.
1. What do your employees want/need for coverage?
Everyone's situation is different when it comes to medical expenses. Some might use a lot of prescription drugs, have children that are in need of braces, chiropractic or massage therapy. There are lots of great options for business owners that give flexibility in plans, one being a Private Health Services Plan. Having a good idea what the general need is a great place to start. If you are not sure what they need - Ask them.
2. What is the company's budget for Employee Health Benefits?
As nice of an employer you might be, you need to be realistic in what you can afford. Do some research, look into a few companies that offer the things you need covered. Most traditional insurance companies rank pretty close when it comes to premiums, it's the coverage that comes with it that will make the difference.
3. What is your gut telling you?
You need to believe in the company you are entrusting your employees health and well being to is trust worthy to you. What level of customer service standards do they hold themselves to? When you call for information does someone answer the phone? Do they return voice mails and emails in a timely fashion? Do they answer your questions clearly? If you don't get the best of service before they have your money, what is it going to be like after they have your money?
As a Canadian small business owner, you do have choices, but you have to know what they are. Do you have a Financial advisor or insurance rep that you can ask for recommendations? Accountants and bookkeepers are a great resource as well, as they deal with mainly business owners. Ask your friends and family that own their own business what they do in the way of benefits and who they use. They will be honest and you won't get a sales pitch.
Employee benefits are suppose to be a perk for working for a great company, they should be easy and trouble free. They are out there, you just need to find the one that fits you and your employees best