You’ve likely heard about the recent reports of some Tim Hortons locations reducing employee benefits as a result of the Ontario government increasing the minimum wage from $11.60 to $14 (effective January 1st 2018). Regardless of the end game, the minimum wage experiment will likely impact your business immediately (directly or indirectly). Northern Financial Group can help your business implement an employee benefit program that will continue to be affordable. We can also help you review your current plan to ensure you’re not over paying.
Surprisingly, businesses rarely review their benefits plan resulting in stale plan designs and high premiums. The popular conception that all plans are created equally is simply untrue. On average, a market analysis of your current employee benefit plan can save your business 15%+. These savings can help offset increased expenses – such as a minimum wage increase.
Our Olympic Benefits Plan is a good benchmark for contemporary plan designs and current market pricing – this product is offered exclusively by Northern Financial Group.
We also partner with all major insurance providers in the group benefits space. This allows us to conduct market analysis on your behalf to make sure you receive the best pricing available for your employee benefits plan.
To inquire into setting up a new plan or reviewing your current plan – please contact us.