As summer is coming to an end, small businesses from coast-to-coast are dealing with the unique combination of a highly competitive hiring market combined with ever increasing costs associated with high inflation.Inflation has meant that small businesses are paying more for everything from utilities to services, to even financing their debt. At the same time, many of their team members are also dealing with the impact of high inflation and skyrocketing costs of living.Recent reports have found that these increasing costs are driving employees to leave their positions, even if they do not want to. Surveys have found that nearly 50% of resignations in 2022 were because of personal finances and more than 70% of workers are living paycheck-to-paycheck. It is no wonder that compensation has emerged as one of the most important hiring factors around.This is a challenge for many SMEs who are competing with larger companies for the same talent. Many small businesses worry that they can’t offer the same compensation or benefits as their larger competitors for talent.Thankfully, while Canadians are looking for financial support at this time, they are looking for more than just a base salary. One of the most important factors in keeping and hiring great talent is your company benefits plan. Benefits continue to be one of the most important factors to Canadians when it comes to where they work, with nearly 2/3 of Canadians saying that their benefits package is an important factor in their decision to continue in their current role.Benefits plans are an area where small businesses have a substantial advantage over larger corporations. While corporations are shackled to traditional plans that provide their teams with limited flexibility and cost an arm and a leg, small businesses are able to employ more flexible and affordable plans that provide their teams with the customized benefits that they want and need. Since, benefits are tax deductible business expenses you will have substantial tax savings to help.Our BeniPlus Wallet was designed specifically with small businesses like yours in mind. Our system allows employers to decide what amount of benefits that is affordable to your company. We have no setup fees or monthly premiums. Instead, you only pay a small 7.5% admin fee on approved claims. There are no floats, upfront costs, and you never pay for benefits that your team doesn’t use.For more information, get a quote today!Sincerely,Stephen DeKuyperCo-founder and President[gravityform id="16" title="true" description="true"]