Why offer health benefits to employees?
Employers tend to see these incentives as a way of boosting productivity, while workers consider them to be compensation or a useful resource, writes Sara Tatelman for Benefits Canada.com. Boosting productivity is the top goal of providing a health benefit plan, according to 64% of employer respondents to the 2016 Sanofi Canada Healthcare Survey. The […]
SMEs using Health Care Spending Accounts creatively
Health Care Spending Accounts aren’t new products, and the scope of expenses covered hasn’t changed much since they came to market about a decade ago. What is changing is how small businesses are using these products. Health Care Spending Accounts have traditionally been used to enhance a benefit plan, with all employees getting a pre-determined […]
Why don’t more small businesses have a group retirement plan?
Most business owners and HR champions of independent Canadian businesses know the benefits of offering a group retirement plan to their employees. Many studies have shown that employee attraction, retention and engagement are increased when a group retirement plan is in place. Many small and medium enterprise (SME) owners have also come to the conclusion […]
Benefits for independent contractors
When a worker is an independent contractor and not an employee, there are important differences for an employer. An employer is not required to deduct and remit to the government statutory payroll taxes and deductions such as income tax, Canada Pension Plan, Ontario Employer Health tax and employment insurance for independent contractors. In addition, independent […]
Why Employees should pay all longterm disability premiums
According to a major provider of disability insurance, three out of every 10 workers between the ages of 25 and 65 will experience an accident or illness that keeps them out of work for three months or longer, with nearly 60% of these injuries occurring off the job. An extended illness or injury can create […]