Wiegers Financial & Benefits is one of the largest private financial planning and employee benefits consulting firms in Saskatchewan. Its Saskatoon Financial Planning Division provides business owners, households, retirees, and students with expert investment and insurance planning services to help them reach their long-term financial goals. They also have a Benefits and Personal Insurance planning, division. In this latest Wiegers Group Benefits expert tip, they explain how becoming an Employer of Choice allows for a stronger financial future. Wiegers Financial & Benefits are Trusted Saskatoon Insurance and Group Benefits experts.
Wiegers Financial & Benefits stands out as a leading financial planning and employee benefits consulting firm in Saskatchewan. Our Financial Planning Division is committed to providing business owners, individuals, and families with expert investment and insurance strategies to help them achieve their long-term financial goals. Meanwhile, our Group Benefits and Retirement Division is dedicated to meeting the diverse needs of our clients. In this article, we explore how you can position your company as an employer of choice.
How Does a Healthier Bottom Line Benefit Your Business?
A strong bottom line signals financial success, but how do you reach that point? A key factor is fostering a workforce that is both satisfied and healthy. Offering a comprehensive benefits package that includes wellness initiatives can significantly enhance employee morale and efficiency.
The phrase "the great resignation" has come to represent the ongoing challenge of attracting and keeping top talent. This issue affects small businesses just as much—if not more—than their larger counterparts. While group benefits and perks have traditionally played a role in employee retention, they no longer provide the same competitive advantage as they once did.
Today’s workforce is seeking more flexible benefits and additional support for their financial well-being. So how can businesses attract and retain employees while also managing costs effectively? Structuring benefits plans to encourage cost-effective choices is one strategy. Additionally, investing in mental health resources can provide critical support for employees grappling with the lingering effects of the ‘shadow’ pandemic, which has resulted in heightened stress and uncertainty. Mental health concerns, long a factor in short-term disability claims, have now become the leading cause of long-term disability claims. Particularly concerning is the 49% rise in long-term mental health claims among employees aged 18 to 35 since 2019.
Insurance providers recognize these trends and have begun offering virtual mental health programs, some as part of standard coverage and others as optional add-ons. The key lies in early intervention to prevent employees from reaching the point of disability or incurring significant expenses on treatments and medications. Tools like Ergoworks, offered by Bridges Health, can play a crucial role in minimizing both the number of employees on disability leave and the duration of their absence.
The Value of Employee Benefits
Providing a well-structured group benefits plan is one of the most effective ways to support your employees both now and in the future. Interested in learning more? In this VLOG, Benefits Advisor Matthew Hill and Group Retirement Associate Danielle Roberge discuss how businesses can enhance their benefits offerings to stay competitive.
