Seeing the big picture from your employees' point of view

Attracting bright, creative, committed talent and retaining it are important parts of managing a successful business. One way to get and keep the best employees is to meet their needs outside as well as inside the workplace.

As a business owner, you can demonstrate this commitment to your employees in a combination of ways, including providing financial, health, and career benefits.

Prompt payroll

Reliable compensation is a fundamental priority for every employer. One of the most effective strategies is to use a direct deposit system for your payroll.

It's easy and convenient for both you and your staff, because deposits occur automatically on a pre-arranged schedule. So even if you're away at a meeting, or an employee is on vacation, staff will always be paid on the designated day. And they'll have immediate access to the funds.

Group Registered Retirement Savings Plans (RRSPs) are another effective way to demonstrate your commitment to your employees' future financial well-being. And like payroll, a Group RRSP can easily be arranged so it requires little of your time to administer.

A range of benefits

Most employees recognize the value of a comprehensive benefits program. Indeed, offering medical and dental benefits may play a large role in maintaining your competitive position. In a recent survey conducted by Mercer Human Resource Consulting, all the companies polled offered at least one form of supplemental health coverage to their employees.

Remember that recognizing your employees' needs can help to attract new staff, encourage loyalty, and reduce turnover.

Know how to Start Strong

Kick-start your new business with these planning ideas and expert guidance. Find out more about the CIBC Start Strong Program.

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