Small businesses drive Canada’s economy and are at the very heart of our communities. In the face of unprecedented adversity, they have shown incredible resolve, made sacrifices, and have persevered through lockdowns, only to now struggle through a worsening labor shortage. Employee recruitment is integral to the success of any business and with less resources at their disposal, the labor shortage certainly looms larger for small businesses.
As economic activity continues to ramp up, small businesses have an opportunity to recalibrate their recruitment strategy and focus on how they can identify and attract the right people. As employers, they can tap into the talent pool of people who are ready and available to work, but perhaps are seeking a change. Today’s workforce is shaped by employees who are looking for greater flexibility and choice, better work-life balance, and who want to work for a company with values that align with their own.
The growth of remote work is not slowing down anytime soon. Businesses are realizing this and tailoring job positions to this new reality while offering competitive wages and appealing incentives to attract new employees. Whether it’s a work from anywhere or hybrid model, greater access to mental health resources, or increased paid sick leave, Canadian business owners must be proactive and adaptive with the types of benefits they offer.
It is important to understand what motivates each person and how to best support the needs of Canada’s diverse workforce. From a total rewards perspective, benefits that were once thought of as nice-to-haves — optional benefits and personal wellness or health spending accounts — are now becoming a standard part of a broader, more flexible approach to plan design.
At Medavie Blue Cross, as we adapt to the evolving needs of employees, we have worked with our clients and their advisors to modify plans to better align with the new realities caused by the pandemic. Medavie is always looking at ways to reimagine benefit plans and offer solutions that best reflect the current needs of Canada’s workforce. Benefits for Small Business offers a cost-effective way for small business owners to protect the health and wellbeing of their employees. The plan is designed to pool claims together, lowering the impact of high claims activity and containing costs over time.
As organizations transform and modernize, they should never lose sight of how they can accommodate their employees and foster a healthy working environment. Recruiting is largely based on culture fit, so this is especially significant for small businesses where colleagues can feel like a family.
As a trusted health solutions partner, we want our team to feel valued and that we champion a healthy environment that allows everyone to have a voice and bring their true selves to work. Fostering a culture that promotes openness, understanding and flexibility is key as we navigate this shifting workforce.
Medavie recognizes and appreciates the role small businesses play in our economy. We understand the challenges they are faced with every day and we know business owners and entrepreneurs are working longer and harder than ever. They deserve to have the right team supporting them. We are here to provide them with options that are flexible and affordable while ensuring they meet the needs of their employees.
We are already seeing signs that small businesses can and will bounce back. There is no doubt in my mind they will once again be a beacon of productivity and prosperity for this country, leading us forward in our post-pandemic recovery.