Providing health insurance for small businesses in Ontario is a great way to attract new employees, improve workplace satisfaction, and foster a community of well-being. To help you understand the benefits of offering your employees affordable access to health insurance coverage, the insurance solution professionals at DFSIN TORONTO WEST have highlighted a few reasons for you below.
7 Key Benefits of Health Insurance for Small Businesses in Ontario
1. Appealing to Potential New Hires
According to surveys by Glassdoor and Fractl, the majority of job search candidates expect to receive health insurance benefits from their prospective employers. Whether you’ve recently opened for business or you’re experiencing a period of growth, getting small business health insurance coverage will improve your company’s appeal to possible new hires. Showing your commitment to a candidate’s personal and familial well-being will send a strong message from the employer that they’re a long-term investment.
2. Employee Retention and Happiness
The results of a Glassdoor Economic Research Survey show that access to health insurance plans is the leading benefit that influences job satisfaction. Investing in small business insurance will not only attract better talent but also ensure that your best employees remain happily committed to your institution. What’s more, happy and healthy employees will be more productive on the job, thus improving performance on an individual, group, and organizational level.
3. Providing Accessible Coverage
By purchasing Health Insurance for Small Businesses, employers are levelling the playing field for their team by providing them with access to affordable coverage. According to a study published by the Employee Benefit Research Institute (EBRI), the overwhelming majority of employees feel that access to health insurance plans contributes to higher levels of economic security. If you want to retain your talented workforce, it’s worth the investment to provide them with insurance.
4. Fostering a Community of Support
When employees feel supported by their employers, they not only have higher levels of job satisfaction but an enhanced sense of community as well. According to the Harvard Business Review, Health Insurance for Small Businesses contributes to a larger culture of well-being; when employees are healthier—mentally, physically, and emotionally—they’re more likely to be happier, more productive, and committed to developing their potential at your workplace.
5. Promoting Financial Security
Health insurance for small business plans contributes to employees’ financial stability, providing a safety net against unforeseen medical expenses. This security enhances their confidence and peace of mind, allowing them to focus on their roles and responsibilities within the company.
6. Enhancing Employee Well-being and Productivity
Access to health insurance fosters a culture of well-being within your organization. When employees feel supported and cared for, they exhibit higher morale, reduced stress levels, and increased focus on their work. A healthier workforce translates to higher productivity and engagement.
7. Competitive Edge and Reputation
Providing health insurance gives your small business a competitive edge in recruiting and retaining talent. It also enhances your company’s reputation as one that values its employees’ well-being, making it an attractive workplace in your industry.
The Value of Health Insurance for Small Businesses
Health insurance for small businesses isn’t just a benefit – it’s an investment in your company’s success and your employees’ overall wellness. By prioritizing affordable health coverage, you create a supportive and thriving work environment that benefits everyone involved.
Get Health Insurance for Small Businesses Now
For small business health insurance solutions in Ontario, contact DFSIN TORONTO WEST today.
