Canadian small businesses who offer health benefits to their employees
0
%
Employees who value a benefits plan’s impact on their health and wellbeing
0
%
Employees who consider health benefits before accepting a new role
Despite cost of living pressures, health benefits remain key
When offered a raise or health benefits, Canadian small business employees shared that they would rather have health benefits:
50% would rather have health benefits over a $10,000 raise
41% would rather have health benefits over a $25,000 raise
36% would rather have health benefits over a $40,000 raise
Health benefits create comfort
For employees who say a health benefits plan is worth more than greater sums of money, it is because:
Knowing they have health benefits provides peace of mind
Prescriptions and other medical requirements are covered
Their child or family needs additional coverage
Both employers and employees win with health benefits
39% of Canadian small business owners cited cost as a key barrier to offering health benefits
$1,822 is the average coverage cost per employee (at typical 50% co-pay) for employers
This delivers a notable ROI for employers when it comes to recruitment, retention and productivity as many employees prefer health benefits over a higher-valued raise
We asked: What’s important to you about workplace health benefits?
Before I’d consider changing jobs, I’d want to know that the health benefits coverage at a new employer was better than the coverage I have now.
Gen X from Ontario
Often everything can cost more without insurance… I wouldn’t want to take a chance and find myself paying a fortune unexpectedly.
Millennial from Québec
With global inflation going on all around us, health benefits provided by employers are crucial, now more than ever.
Millennial from the Prairies
Not having a benefits plan can increase business risk
According to the study:
76% of employees without health benefits would leave their current job in favour of one with a better health benefits plan
Over 160,000 small businesses in Canada (1 in 8) have seen at least one employee resign for a better health benefits plan
Small businesses without health benefits are at risk of lower employee productivity (21%) and falling behind the competition (19%)
We’re here to help
More than half of employees feel underappreciated in the workplace and nearly one-quarter are actively searching for other job opportunities.
Providing health benefits can help mitigate quiet quitting and keep employees satisfied and engaged.
