Most employees who quit do so because they have found a better paying job somewhere else, however, if you have a good benefit plan in place, such plans may get thwarted in your favor.

Imagine an employee who is making $15.00/per hour and gets offered a job making $22.00 per hour.   Most people would take it hands down but because of a benefit plan, some will think long and hard before leaving.

He and his spouse will have to consider that if he died, his salary is continued with you.  If his wife or God forbid one of his children died, his salary is continued.

Likewise should he get disabled, his pay cheque will keep coming.  Prescription drugs for him and his dependents are covered, as are eye glasses and any major medical expenses as well as dental for him and his family.  Some will leave but some will stay too because you, through a benefit plan,  have appealed to his sense of security, the health and well-being of his family as well as the message of stability of employment that you are sending to all.

A major survey was done a few years ago on 1500 various Canadians.  Almost 50% of who said they would prefer benefits to $20k cash. Another 14% said they couldn’t answer right now.  This survey demonstrates the value of benefits to people – particularly to those with families.

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