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Consider This Strategic Option for OEL Members

Consider This Strategic Option for OEL Members
It’s safe to say that as an electrical contractor, you’re always looking to make smart strategic decisions. You’re continually seeking out ways to save money while remaining competitive within the electrical industry. An essential aspect of maintaining your competitive edge is retaining key employees, and commonly this is done by offering incentives such as bonuses and/or raises. 

It’s a straightforward concept: you reward good work with a raise or a bonus. However, consider that the pay increase actually costs you more when you take into account payroll deductions such as CPP, EI and vacation pay.
Furthermore, for your employee, the value of the raise is greatly reduced due to federal and provincial taxes.
On the other hand, by offering your employees a group benefits plan, you’re providing them and their families with medical and financial peace of mind. Health and dental benefits are tax-free to employees, and your contributions are considered a tax deduction.

A group benefits plan is a win-win situation.

Not only does a group benefits plan help retain valued team members, but it also works to attract prospective employees to your growing business. These days, there are so many available options and a lot of flexibility in coverage options, setting budgets and creating spending limits.

As the preferred insurance provider of the OEL, we understand the unique needs of OEL members. If the idea of rewarding your employees with tax-effective benefits interests you, please reach out to us at 1-519-562-1232 or email: