Pulling it all together

An Accountant recently said, “a business has no worth without its people. I am nothing if I didn’t have the staff to get the job done and meet the deadlines. They are the reason we have clients.”

This accountant is hiring a new professional. This person will spend the majority of their time at their desk, utilizing technology via a computer, plus as many as three monitors to their job to the best of their ability.

Technology for the sake of technology serves no purpose.

Human’s serve humans.

Technology is for human usage.

The benefit plan is the most under utilized tool at an owner’s disposal.

In this case, the employee is provided outside equipment and has to then use their internal equipment to be proficient. This includes their brain (obviously), eyes, hands (fingers specifically), and their body to support them.

• If this employee has vision impairment, they cannot do the job at 100% capacity because they wouldn’t be able to “see” the screen, the numbers etc.
• If this employee has back issues, they wouldn’t be able to sit or stand still at the computer to complete their tasks.
• If they are suffering emotionally with work-life balance (especially at tax time) they will lack concentration to perform effectively.

This is where our Industrial | Intellectual Athlete program shines. This program works first to align the benefit package with the expected productivity of the employees.

In this situation:

• We ensure a priority is placed on excellent vision care access, considering best for computer lenses to prevent eye strain and headaches.
• We create a plan with access to Physiotherapy and Chiropractic services, in addition to back and wrist braces to assist with prevention or elevation of carpal tunnel in the wrists.
• Including an employee assistance program (EAP) for access to work-life balance, family counselling, stress, nutrition, etc. will help this employee get through that busy tax season fit and ready to perform.

Here’s what we know

Close to 70% of a business’ value is located in the talent. Those behind the service or technology. Those who create the intellectual property. Those that keep the customers coming back.

We also know that each time a corporation has to replace a team member, the cost of replacing the employee can fall between 150-250% of the exiting employee’s salary, depending on their role in the organization.

The easiest win, engagement, culture builder, attraction and retention tool is the benefit plan.

Including benefits as part of employee compensation, serves to promote the value of the plan to the end beneficiaries of the program. This means looking at the claim usage, not the premium dollars. When an organization’s first response to high usage is to remove elements of the benefit plan, they are in essence encouraging those who use the plan to move on as a substantial portion of their compensation has been removed. Due to the cost of employee turnover, this is more costlythan the savings created on the premium dollars as it erodes not only the coverage, but the culture, engagement and compensation.

When an organization uses the Just-in-Time benefit education approach to promote the various aspects of a benefit plan and how it serves the employees performance, you give your employees something to brag about. A “Best-in-Class” plan is one where talent is attracted to work and more importantly stay with the company for the long term.

We call these "Hire to Retire" plans.

Those corporations who receive rave reviews from their own staff are also attractive to their customers and investors because these are the companies where engagement creates revenue, and revenue creates profits and wealth.

…and a profitable company is a sellable company able to attract a better potential buyer when the owner is ready to move on.

This is where we drive innovation in benefits. Let’s have a conversation. Give us a call.

Note: this was written without the aid of Artificial Intelligence (AI)

Disclaimer: Please note that the information provided, while authoritative, is not guaranteed for accuracy and legality. The site is read by a world-wide audience and employment, taxation, legal vary accordingly. Please seek legal, accounting, and human resources counsel from qualified professionals to make certain your legal/accounting/compliance interpretation and decisions are correct for your location. This information is for guidance, ideas, and assistance.

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