Do you appreciate your benefit plan at work?

When times are good, jobs are abundant and employees might overlook the value of their benefit plan.  When times are tougher a recent study by Sanofi-Aventis says that the majority of employees place higher value on benefit plans.

It should be no surprise that the current economic uncertainty has caused employees to appreciation of the quality of health benefit plans.  Almost eight in ten employees agree that the existing economic environment has increased the value they place on their health benefit plan.

Having a good benefit plan in Canada not only helps attract new employees but it really encourages employees to stay with their current employers.  According to Jacques L'Espérance, survey advisory board member and president, J. L'Espérance Actuariat Conseil Inc. “Employees also think more positively of their employer because of their health benefit plan.”

Employers should be active partners in the overall health of their employees and can play a strong role by encouraging them to take responsibility for their own health.

The study suggests that 59% of employees appreciate their benefit program

If you are an employee with a benefit program, I would love to hear your thoughts.  Do you appreciate your benefit program? If so, why? What do you like most about your benefit plan?

Written by Jim Yih

Jim Yih is a Fee Only Advisor, Best Selling Author, and Financial Speaker on wealth, retirement and personal finance. Currently, Jim specializes in putting Financial Education programs into the workplace. For more information you can follow him on Twitter @JimYih or visit his other websites Group Benefits Online and Advisor Think Box.

3 Responses to Do you appreciate your benefit plan at work?

  1. I work in the public service, and have excellent medical, dental, pension, and life/disability insurance through my employer. I really do appreciate these benefits – there’s a great peace of mind to be had by not worrying about unexpected medical or dental expenses, and it’s good to know that I’ll have pension income when I reach retirement age.

    The only downside is that I’d like to work toward early retirement, and in some ways the excellent benefits form golden handcuffs that make it harder for me to leave for a part-time job before I’m eligible for the pension.

    • Thanks for the great points George. Being self-employed, I am very grateful that my wife has good benefits through work especially with 4 young children.

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