Apart from payroll, the biggest labor expense a business has is the cost of health benefits and retirement plans offered to employees. Whether you are the owner of your business or in charge of human relations, administering these plans can be an overwhelming process. Unfortunately, it is not enough to just pick a plan and forget about it as your employees’ engagement in these programs will affect their work satisfaction and turnover. Our advisors can work with you to design the most optimal solution for your business in order to boost the productivity of your workforce.
A deferred profit sharing plan (DPSP) is a powerful tool employers can use to attract and retain talent in a business. Under this arrangement an employer can share business profits with employees. The RRSP/DPSP combination adds certain features to a regular group RRSP, such as withdrawal restrictions, vesting, and the elimination of certain payroll taxes. Our advisors can help you evaluate whether this structure is right for your business.
Offering group insurance benefits allows employers to gain a competitive edge in talent acquisition. The proper plan will both ensure employees’ health needs are taken care of and serve as an important compensation tool. We have access to a complete range of flexible benefit management solutions that are comprehensive and cost efficient and that can meet the specific needs of each unique situation.