In today’s rapidly evolving workplace, expectations around compensation have shifted. Employees are no longer just looking for a salary. They’re looking for stability, flexibility, and long-term support. That’s why employee benefits plans have become a central part of any competitive employer offering.
But what exactly do modern benefits plans include? And how can you ensure yours meets the real needs of your team?
As experienced employee benefit consultants, we’re breaking it down clearly—so you can make informed decisions that support both your people and your business.
What Are Employee Benefits Plans?
An employee benefits plan is a structured program that provides non-salary compensation to employees. It typically includes a mix of health-related coverage, income protection, savings options, and wellness initiatives—all designed to support employees beyond their paycheque.
These plans may be fully funded by the employer, cost-shared with employees, or offered with optional top-ups. With over 19 years of experience across multiple industries, we know that employee benefits are no longer a “nice to have”—they’re a strategic investment in talent attraction and retention.
Core Components of Modern Employee Benefits Plans
Today’s plans are more flexible and comprehensive than ever. While the exact mix depends on your organization and workforce, most competitive programs include:
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Health and Dental Insurance
- Covers medical expenses, prescriptions, and preventive care
- Many plans also include vision care, paramedical services (e.g. massage, physiotherapy), and dependent coverage
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Mental Health and Wellness Support
- Access to therapy and counselling through employee assistance programs (EAPs)
- Wellness stipends or reimbursements for fitness, meditation apps, or holistic services
- Programs focused on stress management, burnout prevention, and emotional resilience
- Virtual care services provide online therapy and counselling through secure digital platforms, offering convenient and private access to mental health support. This reduces barriers such as travel, stigma, and scheduling, making it easier for employees to access consistent, personalized care.
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Disability and Critical Illness Coverage
- Short-term disability coverage supports income during temporary leave
- Long-term disability coverage provides income protection for more serious or permanent health challenges
- Critical illness coverage offers financial support in the event of major health conditions like cancer or heart disease
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Life Insurance
- Offers financial protection for an employee’s family in the event of their death
- Often includes options for top-up or spousal coverage
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Retirement and Savings Options
- Group RRSPs, pension plans, or deferred profit-sharing programs
- Some employers also offer TFSAs or RESP matching for long-term savings
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Work-Life Balance Benefits
- Paid vacation, personal leave, and generous parental leave
- Flexible work arrangements, hybrid/remote work options
- Extra days off for caregiving, volunteering, or personal needs
What Today’s Employees Expect From a Benefits Plan
The modern workforce is more diverse, values-driven, and wellness-focused than ever. What used to be considered premium offerings are now baseline expectations. Here’s what employees want to see in their employee benefits plan:
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Personalization
Not everyone values the same benefits. Offering flexible options shows your commitment to supporting individual needs. Many employers are moving toward flexible benefits models, where employees can allocate benefit dollars toward what matters most to them—whether that’s extra vacation time, elder care, fertility support, or extended health coverage.
Pro Tip: A flex benefits model empowers employees while improving plan engagement and perceived value.
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Mental Health Support That’s Accessible and Real
Mental health is no longer an optional add-on. Employees expect therapy coverage, access to counselling, and tools that help them manage stress and avoid burnout. Post-pandemic, this is considered essential—not a bonus.
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Support for Every Life Stage
From fertility treatments to adoption support, elder care, and retirement planning, benefits plans should recognize that employees have different needs at different points in life. A thoughtful plan offers resources that reflect those transitions and responsibilities.
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Simplicity and Transparency
People don’t want to read through jargon-filled documents to understand their coverage. A modern plan should be easy to access, clearly communicated, and supported by tools or people who can answer questions when they arise.
Bonus Insight: Companies that invest in benefits education and onboarding see higher utilization and satisfaction rates.
How Employee Benefit Consultants Add Value
Designing a modern benefits plan isn’t just about checking boxes. It’s about creating a strategy that reflects your workforce and business goals.
This is where employee benefit consultants come in.
A good consultant brings:
- Deep plan design experience to tailor solutions by industry, size, and culture
- Benchmarking and cost analysis to ensure competitiveness and sustainability
- Communication strategies to boost awareness and participation
- Ongoing advisory to adapt as your company grows and needs change
At Benchmark, we don’t sell off-the-shelf solutions—we build programs that evolve with your organization and keep your team engaged.
How to Get Started with a Modern Benefits Strategy
If your current plan hasn’t changed in years—or if you’re creating one for the first time—this is the time to reassess.
Here’s how to begin:
- Listen to your team: Use surveys, interviews, or informal feedback to understand what they value.
- Audit your current offering: Identify what’s being used, what’s outdated, and what’s missing.
- Consult an expert: A trusted advisor can help you assess, design, and implement a smarter plan.
- Communicate early and often: Employees should understand not just what they’re offered—but why it matters.
Final Thoughts
A modern workforce needs a modern employee benefits plan—one that supports health, balances life, builds financial resilience, and adapts as people grow.
At Benchmark Benefits, we help organizations create benefit programs that do more than check boxes—they drive impact. With over 19 years of experience and deep industry knowledge, our team designs plans that are flexible, compliant, and built around what employees truly value.