There are various types of non wage compensation you can provide to employees. Survey after survey reveals that there is often a disconnect between what employers believe their staff view as key components to their overall compensation and what employees are actually seeking. At Montridge, we are experienced in seeking out creative ways to help you show your organization’s worth, attract top people and improve the quality of life of your workforce.
We believe in having an open, collaborative relationship with our insurance and wellness partners. This provides above-average results when clients need claims or administrative issues managed, fair negotiations for both benefits and retirement choices, and creative out of the box solutions to individual situations.
Our clients understand that a properly structured benefits & retirement program is an integral part of their compensation philosophy. They believe that their plans are an investment in their workforce and that the expertise we provide will contribute towards accomplishing their organizational goals and objectives.
At Montridge, we believe strongly in education and empowerment. Our team will work with you to ensure employees and administrators experience minimal onboarding and service issues, know the value of the benefits plan offerings, understand pitfalls that can affect coverage, and inform you of future changes that may impact plans.
Benefit plans play a key role in protecting the financial health of your people. A well structured plan will have many layers which are customized to suit the goals and objectives of your firm and to protect and enhance the health and wellness of your employees.
At their core, employee benefits provide insurance and financial reimbursement to your employees to help them when the unexpected occurs or to assist them in treating an illness or injury. The initial layers generally include insurance to help maintain an individual’s or family’s lifestyle in the event of a death or a disability. Other catastrophic coverages include protection from the high costs of treating a medical emergency while traveling outside of the country, as well as help with reimbursement for extraordinary prescription drug costs.
The next layer of coverage generally includes reimbursement for the services of medical practitioners such as physiotherapists who help treat injuries or chronic conditions. Included are coverages for medical supplies, vision care, dental coverage, and mental health resources to help reduce stress and treat conditions such as anxiety and depression.
Most plans now offer employee and family assistance programs which provide a wide variety of helpful services such as referrals for child or elder care, financial planning, as well as being the first stop for assistance with mental health concerns.
Each company is unique and the challenges it faces in supporting its people often require creative solutions. Benefits plans, whether fully insured, self-insured, or something in between can be customized to suit the needs and culture of a firm provided that they fall within the legislative rules. Montridge advisors pride themselves on their ability to find solutions, whether through a new supplier or development of a new policy, that will help your firm to support your staff’s physical, emotional, and financial health.
Originally benefit plans were developed to focus primarily on helping ease the financial burden on employees when they became ill or injured. In recent years, the focus has shifted to incorporating tools that also help support the physical, mental, and financial health of employees. The needs of employees are diverse and properly structured wellness plans can help to control costs, improve productivity, and provide the desired elements of choice and individualization your people are seeking.
Employer sponsored retirement and savings plans are a key component to reducing financial worries – the number one cause of stress – amongst your staff.
Protecting the financial health of your business and your employees when serious illness or death occurs is critical to the health and wellbeing of your company and its people.
