Ask a GoForth Expert
- What does it cost me, the employer, to offer a benefits package for my employees?
Dawn McCooeyPeople Management
The rate you pay will vary but keep in mind that employers are able to deduct their employee benefit contributions as a business expense. They also buy the group plans at a reduced cost from the insurance companies or other benefit providers. Consult with an insurance agent or company for quotes.
Also keep in mind that although providing benefits to your employees comes at a cost to you, it also serves as a benefit to you. It would be very difficult to secure the right kind of employees/professionals in your company if you don't offer both a competitive salary and a benefits package.
About Dawn McCooey
A veteran entrepreneur, Dawn McCooey ran her own HR Consultancy for 18 years and managed a staff of 32 people. Her efforts earned her the title "Best Boss in Victoria." Last year her book, Keeping Good Employees On Board was published by Morgan James Publishing, NY. and quickly became an Amazon.ca bestseller. Today, Dawn works as a Business Advisor with the Women's Enterprise Centre BC and also provides consulting and key note speaker services at www.employeeretentiontools.ca. Dawn holds a Master's degree in Leadership and Training from Royal Roads University. In her off hours? She's either cooking or sailing!