Small business owners believe that there are advantages to offering benefits to their employees.

The 2014 Manulife Small Business Research Report finds that employee attraction and retention are the main motivators behind owners’ decisions to implement a health benefits plan.

Small business owners with group health benefits most often cite employee attraction and retention (34%) as an issue or problem that led them to consider benefits, followed by the desire to spend less time on HR issues and more time on strategic issues (19%) and concerns over personal/family health issues (16%).

Among owners with retirement savings, employee retention and attraction (31%) come out just ahead of personal concerns (29%) as the reasons most cited behind the addition of a retirement savings plan. Respondents then pointed to a desire to spend less time on HR issues and more time on strategic issues (16%).

The report is based on the results of an online survey of 1,122 Canadian small business owners and senior managers across industry sectors and regions. The research was conducted by the Rogers Insights – Custom Research group of Rogers Publishing Ltd. (the owner of Benefits Canada), on behalf of Manulife.

To read the whole report, visit smallbizresearch.ca.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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