Waypoint Insurance - Risk & Business Magazine VIIC Spring 2016 | Page 7

Group Benefits
Retaining Your Employees
BY: ELAINE MCDONALD, VIIC

A

s a small business owner on Vancouver
Island, you know that the day-to-day
success of your business is not yours alone.
A large part of your business’ success is in
the hands of your employees. These are
the people who support you, who share
your vision and passion for your business
everyday. In today’s workforce, it’s not
enough to attract quality employees; you
need a compensation package that’s more
than steady hours and a reasonable wage.

Have you considered a Group Benefits
plan for your business?
Group benefits coverage can be a key
element in an effective business plan,
one that is designed to attract and retain
those outstanding employees. By offering
coverage that meets your employee’s
personal and family security needs, you
will be setting your business apart from
the competition.

Many small business owners operate
under the misconception that they lack
the resources to offer benefits plans. In
reality, the expense is often less than
business owners anticipate. A case could
even be made that giving your employees a
benefits plan might be more valuable than
giving them a raise in pay. Salary increases
are affected by payroll and income
taxes, whereas benefits are tax-free for
employees, benefits can be a tax effective
way to compensate your employees. In
addition, employer contributions to
health and dental benefits are deductible
as a business expense.

unique needs to develop a Group Benefits
strategy. Maintaining the relationship
with your Specialist will ensure that your
plan continues to meet the expectations
and requirements of you – and your
employees – for years to come.
Contact Vancouver Island Insurance
Centres and speak to one of our expert
Group Benefits Specialists about how to
protect your most important business
asset – your employees – with a Group
Benefits plan tailored to your business.

A key component to building the right
benefits plan to suit both your business
and your employees is developing a
relationship with a Group Benefits
Specialist. That Specialist will offer their
professional expertise to match you
with a carrier that will work with your

Elaine McDonald has worked to help her clients
navigate the world of insurance for over 20
years. She specializes in Group Benefits as well
as Life and Disability products. Located in the
Campbell River office of VIIC, Elaine travels all
over Vancouver Island to connect with clients in
need of coverage. Contact her, or any one of the
VIIC offices, by calling 310-viic or visit us online
at viic.ca

SPRING 2016
2016
SPRING

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