A Ben­e­fits Plan is the Start­ing Point

If em­ploy­ees are taken care of, it will be re­flected in the bot­tom line

BC Business Magazine - - Chambers Of Commerce Group -

UN­DER­STAND­ABLY, A BEN­E­FITS pack­age is re­garded by many em­ploy­ers as a nec­es­sary part of busi­ness, but the Cham­bers of Com­merce Group In­sur­ance Plan is grounded in the BE­LIEF THAT A GOOD PLAN AC­TU­ALLY BEN­E­FITS ANY busi­ness’s bot­tom line.

That’s be­cause a com­pre­hen­sive ben­e­fits pack­age is highly sought by pro­fes­sion­als faced with mul­ti­ple job prospects. “As a way of at­tract­ing and re­tain­ing new tal­ent, a qual­ity plan is a pow­er­ful tool,” says Ra­mon Soli­nas, pres­i­dent and se­nior ad­vi­sor at Soli­nas & As­so­ci­ates In­sur­ance Ser­vices Inc. and re­gional mar­ket­ing di­rec­tor for B.C. for the Cham­bers Plan.

He adds: “In fact, a 2018 sur­vey by Sanofi Canada showed that when asked if they would pre­fer a $5,000 an­nual raise or a com­pre­hen­sive ben­e­fits plan, 63 per­cent of em­ploy­ees sur­veyed chose the lat­ter.”

Of course, ben­e­fits pack­ages are al­most as var­ied as the num­ber of busi­nesses in Canada, and the not-for-profit Cham­bers Plan was de­vel­oped specif­i­cally for small busi­nesses, which have tra­di­tion­ally had the hard­est time get­ting em­ployee ben­e­fits (it pro­vides ser­vices to firms in more than 900 Cham­bers of Com­merce and Boards of Trade across the coun­try).

The Cham­bers Plan also fully re­flects the five key at­tributes the Cham­bers of Com­merce be­lieves are es­sen­tial to any good pack­age, namely:

• Cov­er­age (cus­tomiza­tion al­lows for the

se­lec­tion of ben­e­fits in­stead of those in a bun­dle that may not be needed);

• Pre­mium sta­bil­ity (the Cham­bers Plan is a

pooled plan where pre­mi­ums are based on the A re­cent sur­vey showed that the ma­jor­ity of em­ploy­ees would pre­fer a ben­e­fits plan to a nom­i­nal pay raise av­er­age of claims across all par­tic­i­pants, thus spread­ing the risk);

• Guar­an­tees (the Cham­bers Plan of­fers

guar­an­teed re­new­able cov­er­age or ben­e­fits that don’t re­quire med­i­cal ques­tion­naires);

• Claim pay­ments (the Cham­bers Plan

pro­vides ef­fi­cient and con­ve­nient pay­ment op­tions);

• Longevity (the Cham­bers Plan gives

par­tic­i­pants a voice in the plan’s evo­lu­tion, with op­tions to con­trol costs to­day and in the fu­ture).

Soli­nas cites other por­tions of the plan that would be of great in­ter­est to ei­ther ex­ist­ing or prospec­tive em­ploy­ees of small busi­nesses. “For ex­am­ple, our Busi­ness As­sis­tance Ser­vice is in­cluded free in ev­ery plan,” he says. “This gives own­ers ac­cess to pro­fes­sional ac­count­ing, le­gal and hu­man re­source ex­perts—all of whom un­der­stand the chal­lenges small busi­nesses face.”

The plan also, via its Best Doc­tors ser­vice, al­lo­cates 50,000 med­i­cal spe­cial­ists at the ready for ev­ery Cham­bers Plan par­tic­i­pant, which con­nects se­ri­ously ill in­di­vid­u­als and their treat­ing physi­cians with world-renowned spe­cial­ists.

Yet an­other use­ful el­e­ment of the plan is its health and well­ness mo­bile app, which en­ables par­tic­i­pants to log in at any time and get more de­tails about the plan, how much they’ve spent, or even sub­mit claims re­motely.

“We’ve taken a holis­tic ap­proach to group ben­e­fits and, frankly, the Cham­bers Plan ben­e­fits any small busi­ness’s bot­tom line be­cause its high qual­ity and breadth of ser­vices is at­trac­tive to high qual­ity prospec­tive tal­ent,” says Soli­nas.

For more in­for­ma­tion about ser­vices and ben­e­fits, or for a free quote, go to www. cham­ber­plan.ca.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.