July 15, 2008
Optimizing a group benefits plan to attract and keep loyal employees
By W. Michael Thomas CFP, CLU, CH.F.C., R.F.P.
New statistics show that 45 per cent of employees say that benefits are a contributing factor in their decision to stay with their employer.
When asked to rank the importance of benefits in retention and workplace loyalty, benefits ranked second. Salary/wages ranks first and retirement benefits third, with 72 per cent of employees saying that retirement benefits are an important factor in loyalty.
Surprisingly, only 41 per cent of employers believe retirement benefits are important to their employees and 58 per cent believe benefits play a crucial role in retention.
This data shows a gap between what employers think will drive improved loyalty and satisfaction, and what employees are actually looking for when they choose a company for employment.
Landscape Ontario, in conjunction with the Canadian Nursery Landscape Association, offers members a comprehensive benefits package through HortProtect. This also includes a Group Registered Retirement Savings Plan, which, as this article indicates, could help in the retention of valuable employees.
If you have any questions, please contact Michael Thomas at the address below.
W. Michael Thomas is a partner with The Investment Guild, an endorsed provider of the HortProtect Group Insurance Program, and is a director of the Ontario Horticultural Trades Foundation.
The Investment Guild, HortProtect
100-11 Allstate Parkway
Markham, ON L3R 9T8
1-800-459-8990
www.hortprotect.com
info@hortprotect.com
New statistics show that 45 per cent of employees say that benefits are a contributing factor in their decision to stay with their employer.
When asked to rank the importance of benefits in retention and workplace loyalty, benefits ranked second. Salary/wages ranks first and retirement benefits third, with 72 per cent of employees saying that retirement benefits are an important factor in loyalty.
Surprisingly, only 41 per cent of employers believe retirement benefits are important to their employees and 58 per cent believe benefits play a crucial role in retention.
This data shows a gap between what employers think will drive improved loyalty and satisfaction, and what employees are actually looking for when they choose a company for employment.
Landscape Ontario, in conjunction with the Canadian Nursery Landscape Association, offers members a comprehensive benefits package through HortProtect. This also includes a Group Registered Retirement Savings Plan, which, as this article indicates, could help in the retention of valuable employees.
If you have any questions, please contact Michael Thomas at the address below.
W. Michael Thomas is a partner with The Investment Guild, an endorsed provider of the HortProtect Group Insurance Program, and is a director of the Ontario Horticultural Trades Foundation.
The Investment Guild, HortProtect
100-11 Allstate Parkway
Markham, ON L3R 9T8
1-800-459-8990
www.hortprotect.com
info@hortprotect.com