BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 25

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A
HR CORNER

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BY VINCENT SZETO, GROUP RETIREMENT ADVISOR

REASONS WHY
TO OFFER YOUR
EMPLOYEES A
RETIREMENT PLAN

CCORDING TO A RECENT CANADIAN HEALTHCARE STUDY CONDUCTED BY SANOFI
CANADA, MORE THAN ONE THIRD OF OUR WORKFORCE IS EXTREMELY STRESSED
ABOUT THEIR PERSONAL FINANCES. THE STUDY ALSO DRAWS A DIRECT
CORRELATION TO HIGHER INCIDENCES OF WORKPLACE ABSENCES AND LOWER
PRODUCTIVITY; ONE OF THE MAIN FINANCIAL STRESSORS CITED IN THE REPORT
ARE EMPLOYEES WORRY ABOUT SAVING FOR RETIREMENT. BUT AS A BUSINESS,
THIN MARGINS AND TIGHT BALANCE SHEETS CAN PUT A SQUEEZE ON YOUR
DECISION TO OFFER EITHER BENEFITS OR RETIREMENT, BUT NOT BOTH.
Here is the good news: employer
sponsored retirement plans are
in a new era. With the flexibility
and variety of available options,
employers can play an influential role
in helping their employees prepare
for retirement. Through the Building
Supply Industry Association of BC
(BSIA of BC) Group RRSP, member
companies can access a simple,
cost-effective employer matching
program that can benefit the smallest
firms to the slightest budgets.
Here are 5 practical reasons to
offer your employees a retirement
program:
A recruiting tool - Employees
are more aware of their benefit
packages and will review their
options prior to employment.
If an employee has a choice
between two equally appealing
opportunities, one with a
retirement program, this can
potentially impact their decision.
Reduce turnover - A retirement
plan not only shows your
employees that you care but it also
helps you be more competitive
in the marketplace. The ability
to retain good employees means

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that you'll spend less money on
recruiting and training new ones.
Current labour market is
tight - Low unemployment and
high job openings mean labor is in
high demand. This is a particular
challenge for employers to fill up
job openings which can potentially
drive up the price of labor. Consider
the benefits of a retirement program
to differentiate your firm from
competitors to assist in attracting
and retaining good talent.
Increasing company presence
and image - It is important to
take care of the people that take
care of your business. As equally
important is the image that is
projected to future business
dealings, communities, etc. By
offering a group retirement plan,
you are giving your employees
an opportunity to build their
retirement as well as project
the image of your employees'
dedication and commitment to the
business for the long haul.
Retirement plans are simple and
easy to maintain - Retirement
plans are now designed to be
simple, easy, and efficient for

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businesses small and large.
Technological advances have
streamlined the industry away
from the once onerous job of
receiving and maintaining hardcopy
documents to more efficient online
portals. Even tasks such as enrolling
new employees have been more
efficient through online capabilities.
As business continues to grow
and attract new talent, this could
be a differentiating factor for your
company to provide a quality,
affordable retirement plan to
your employees. The bottom line
to any business is that without a
retirement plan, employees feel left
behind and this may be detrimental
to the legacy of your business. As
an employer, it is up to you to lead
the way. 
To learn more about BSIA's Group RRSP,
contact our advisors at ZLC Financial:
1200 Park Place
666 Burrard Street
Vancouver, BC V6C 2X8
TEL 604.688.7208
FAX 604.688.7268
TF 1.800.663.1499
vszeto@zlc.net

APRIL/MAY 2018 | BSIA NEWS | NEWS MAGAZINE

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Table of Contents for the Digital Edition of BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018

Chair's Message
Calendar of Events
Education Events
Board of Directors
New Board Profiles
Safety Update: WORKSAFEBC Releases Three-Year Strategy to Reduce Serious Injuries In the Construction Sector
BCFCA Board Members
Criteria for Choosing a Floorcovering Supplier
Concrete Placement
The Final Inspection
2018 Flooring Expo
ICRI Concrete Slab Moisture Testing Certification Program
BCFCA Events
President's Message
NFCA Board Members
Wood Changes Colour When First Exposed to Daylight
80th Anniversary Registration Form
President's Message Last Word
CANWEL: Proud History in The Industry
Coast Distributors - Warehouse Operations
HR Corner: 5 Reasons Why to Offer Your Employees a Retirement Plan
Index to Advertisers
BSIA Affinity Partner Program
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Intro
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - bellyband1
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - bellyband2
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - cover1
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - cover2
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 3
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Chair's Message
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 5
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Board of Directors
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - New Board Profiles
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 8
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 9
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Safety Update: WORKSAFEBC Releases Three-Year Strategy to Reduce Serious Injuries In the Construction Sector
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 11
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - BCFCA Board Members
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Concrete Placement
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - The Final Inspection
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - ICRI Concrete Slab Moisture Testing Certification Program
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - President's Message
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Wood Changes Colour When First Exposed to Daylight
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 18
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 80th Anniversary Registration Form
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - President's Message Last Word
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - CANWEL: Proud History in The Industry
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 22
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - Coast Distributors - Warehouse Operations
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - 24
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - HR Corner: 5 Reasons Why to Offer Your Employees a Retirement Plan
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - BSIA Affinity Partner Program
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - cover3
BUILDING SUPPLY INDUSTRY ASSOCIATION- April/May 2018 - cover4
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