Employees are the heartbeat of a company. And creating a work environment that nurtures their wellbeing isn’t just a nice gesture; it’s an essential part of success.
As a small business in Alberta, you have unique needs to ensure your business thrives. Attracting and retaining top talent demands more than just a pay check; Offering a comprehensive benefits plan can set a small business apart from the pack. In return, you’ll see increased productivity, higher work quality, and a workforce that remains loyal, satisfied, and engaged.
Taylor Rankin, B2B Portfolio Marketing Manager at Alberta Blue Cross, dedicates her time to understanding small business needs. She’s shared some tips to help select the ideal benefits package for your small business.
1. Listen to your employees
When it comes to choosing the right benefits, “start by asking your employees what coverage is important to them,” says Taylor. From there, you can shop around for a benefits plan that best suits your team and their needs.
Your employees have unique needs when it comes to supporting their health and wellbeing. By involving them in the benefits decision-making process, you’re not only fostering a sense of empowerment but also ensuring that your most important investment remains at the heart of your small business’s success.
2. Shop around
Don’t rush into the first benefits plan that catches your eye. Take the time to shop around and “compare and contrast benefit plans so you can make an informed decision,” advises Taylor. After all, when it comes to the well-being of your employees, you have every right to be picky.
Create a pros and cons list for each plan you are considering. Dive into the details, examining the coverage, cost, and additional perks offered by each plan. By weighing the advantages and drawbacks, you’ll gain a clearer understanding of which one best suits your business needs.
If you’re struggling to find a plan that checks all the boxes for your team, you might want to consider a plan that is specifically designed for small businesses, like our Benefit Plus plan.
3. Consider your budget and start small
We get it—benefits can put a dent in your finances. But here’s a secret: you don’t have to break the bank to provide valuable coverage for your team.
“You don’t need all the bells and whistles right from the start,” explains Taylor. Focus on the must-haves and build a solid foundation that fits your budget. As your business grows, you can always expand and enhance the coverage, adding things like disability coverage or a spending account when the time is right.
4. Chat with an expert
When it comes to benefits for your workforce, there are tons of options out there. And as a small business owner, it can be overwhelming to evaluate all the options when you already have a ton of other things on your plate. But remember that you don’t have to do it alone.
It’s never too late to call in some help from experts in benefits plans for small businesses. “When it doubt, talk with an Alberta Blue Cross sales representative,” says Taylor. They’ll break down all the options, sift through the jargon, and ensure you’re getting the coverage that sets your business up for success.
Ready to unlock the potential of your team with the right benefits plan? Visit our Group Benefit Plans page to start building your plan today.
