Trusted Saskatoon Blog | February 2021

Wiegers Financial & Benefits is one of the largest private financial planning and employee benefits consulting firms in Saskatchewan. Its Saskatoon Financial Planning Division provides business owners, households, retirees, and students with expert investment and insurance planning services to help them reach their long-term financial goals. They also have a Benefits and Personal Insurance planning division. In this latest Wiegers Financial tip they share information and advice for business owners. Wiegers Financial Benefits are Trusted Saskatoon Financial Advisors and Trusted Saskatoon Insurance and Group Benefits experts

How Benefits Can Help Bolster Your Employees' Mental Health AND Your Company's Bottom Line

What Mental Health Is and Why It Can’t Be Ignored

Most of us have heard – probably more than a few times – that if you don’t have your health, you don’t have anything. There’s no denying the truth, but increasingly, and all the more during the COVID-19 pandemic, there’s an understanding that mental health is just as important and impactful as physical health.

The World Health Organization (WHO) defines positive mental health as “a state of well-being in which the individual realizes his or her abilities, can cope with the normal stresses of life, can work productively and fruitfully, and can contribute to his or her community” (WHO, 2001, p. 1). Clearly, we all strive for this – or at least should be – but not all of us are mentally well all of the time. Indeed, the Canadian Mental Health Association (CMHA) reports[1] that:

Mental illness indirectly affects all Canadians at some time through a family member, friend, or colleague.
In any given year, 1 in 5 people in Canada will personally experience a mental health problem or illness.
Mental illness affects people of all ages, education, income levels, and cultures.
Approximately 8% of adults will experience major depression at some time in their lives.

About 1% of Canadians will experience bipolar disorder (or “manic depression”).

What’s more, though final numbers aren’t yet available, Fardous Hosseiny, the National Director of Research and Policy at the CMHA, predicted that 2020 depression would be the leading cause of disability in Canada (preliminary indications are that Mr. Hosseiny was correct). Even more staggering is that approximately 1.6 million people continue to have their mental illness needs unmet. As Mr. Hosseiny explains, “Mental illnesses are episodic, but the key is that if it’s untreated, that’s when it’s really disruptive. We know that untreated mental illnesses are only exasperated with time.” Given the number of people not being helped, Mr. Hosseiny suspects that the number of Canadians who suffer from mental illness each year is even higher than what research shows (1 in 4 Canadians as opposed to 1 in 5), and that the availability of support systems – or lack thereof – plays a significant role.[2] Clearly, something needs to be done.

Your Group Benefits Plan Can Be a Terrific Support to Your Employees and Their Mental Health.

Here’s How.

My team and I have been promoting the importance of mental health and mental health support in group benefit plans for many years – long before the stigma surrounding mental illness started to decay. One of the most effective tools available is an Employee Assistance Program (EAP), which can be added to a traditional group benefits plan. Though the number of EAP providers is higher than ever, and the number of options available is ever-increasing, most EAPs provide, at minimum, confidential short-term counselling to employees and their spouses and dependent children, as well as referrals and other forms of support designed to help bolster mental health.

Other options include a robust Health benefits plan that provides coverage for mostly physical concerns, knowing that when an individual cannot afford to pay for a health product or service, his or her mental health can be severely impacted as a result. The same idea is behind Wellness and Health Spending Accounts. Providing your employees with healthcare dollars to spend as they need or choose to do helps reduce or even eliminate the financial concern that might otherwise hinder their getting the help and support they need.

The Business Case for Mental Health Supports in Benefits

Aside from the obvious compassionate reasons for providing mental health support at and through work, there’s a strong business case for it, too. The Mental Health Commission of Canada (MHCC) estimates that the total cost to Canada’s economy incurred by mental health problems and illnesses is well over $50 billion annually or nearly $1,400 for every person living in Canada in 2016. This includes significant employer costs due to absenteeism, presenteeism, and employee turnover.[3] And it makes sense. Healthier, happier employees tend to be more productive than their less healthy, less happy colleagues, so investing in your employees’ mental health helps you – and your business!

It’s wonderful that awareness and acceptance of the need to protect and care for mental health are finally on an upswing. Employers' ability to do so much for their employees’ mental health carries exponential benefits for everyone involved, including the employers themselves (given the positive impact on their businesses). As cliché as it might sound, benefits really are an investment in your team, and there’s never been a greater need than now for the mental health support they provide.

Debra L. Wiegers, GBA, CFP, CLU., Ch.F.C.

Benefits Consultant, Wiegers Financial and Insurance Planning Services Ltd.

Wiegers’ Benefits Consulting Division includes 11 consultants and support staff who custom-design the most employee-valued and cost-effective group benefits, personal insurance, employee assistance programs, and retirement plans available. Contact Wiegers today for a no-obligation consultation to determine how they can help you.

Wiegers Financial & Benefits are Trusted Saskatoon Insurance and Group Benefits Advisors

Have You Heard of Aurora Workplace Solutions?

Aurora Workplace Solutions has over 50 years of combined experience in the industry. They have a reputation for working hard to provide new and improved ideas to serve their clients, and they are always looking to offer an outstanding level of care and professionalism.

Small and large business owners alike are generally spinning lots of plates. They are busy working on and in their business, and they often rely on Trusted 3rd party advisors to assist them with major financial decisions. The categories most need assistance with are insurance, accounting, legal, HR, and group benefits. Aurora Workplace is a wonderful choice to assist with several of these areas, and they can be counted on to provide the best possible advice and recommendations for each client and their unique needs.

Collin Willms is well known in Saskatoon, pre-covid he was a regular attendee at networking events, and consistently stepped up to volunteer his time for various local organizations and charitable events and causes. Collin has great personal style and an easy friendly smile, so it is no surprise that he came highly recommend to the Trusted team by his clients. Collin heads up a stellar team of advisors from across Saskatchewan, as Aurora has offices in Saskatoon, Tisdale, and most recently Regina.

The insurance and group benefits industry is full of confusing acronyms, and there are so many options to consider; getting the right advice is key! It is great to have a trusted local team focused on finding the right options for their client's individual circumstances. Aurora takes the time to explain the why and the how, they are not the kind of company that you just hear from once a year at renewal time. When we spoke to Auroras clients we heard repeatedly how they considered Aurora to be a part of their team.

Also, it was noted several times that they go out of their way to get to know their client's businesses really well, this means they can recommend them to their other clients and networks. Collin even went as far as signing up for challenging cross-fit classes with one of his clients Chad, Owner of Synergy Strength and Conditioning, and now he is a committed cross-fitter who regularly brings guests along, including other clients. When it comes down to it, the Aurora team are great relationship builders and that is a real strength in the financial industry.

Don't just take it from us, read the real words from Aurora clients that Trusted representatives gathered. We call and survey the clients of businesses that apply to be a part of Trusted. This is just part of our in-depth Trusted Verification Process and it is a pass or a fail. We are happy to share that Aurora Workplace Solutions were rated highly by every single client we spoke to, and they passed all of our tests and checks with flying colours.

"Collin Willms and the team at Aurora Workplace Solutions have been easy, straight forward, and helpful, throughout all our business requirements. They are quick to respond to questions and offer solutions. We at CJ Karz auto service are very satisfied with our business with Colin and Aurora Workplace solutions.”- Matt Jamieson and Angela downing at CJ Karz Auto service.

"We've been working with Collin from Aurora Workplace Solutions for a few years now and appreciate their great service and knowledge base. I definitely rate them a 10 out of 10 and would highly recommend them to other business owners looking for workplace benefits for themselves and their employees." Dave T

Aurora Workplace Solutions are well equipped to serve any client. If you need help growing your business. Check out their listing in the Saskatoon Insurance Category!

If you are ready to set up a group benefit or retirement plan, or just want to learn more about their services, just Click Here For A Quote

Trusted Tips & Resources

Trusted Saskatoon Group Benefit & Insurance Pro's at Wiegers Financial & Benefits Explain Employee Benefits

How Benefits Can Help Bolster Your Employees' Mental Health AND Your Company's Bottom Line

What Mental Health Is and Why It Can’t Be Ignored

Your Group Benefits Plan Can Be a Terrific Support to Your Employees and Their Mental Health.

Here’s How.

The Business Case for Mental Health Supports in Benefits

Trusted Saskatoon community welcomes Aurora Workplace Solutions to the Saskatoon Insurance Category

Have You Heard of Aurora Workplace Solutions?

'Creating Brilliant Futures'

Aurora Workplace Solutions Is A Trusted Saskatoon Group Benefits and Insurance Professional!

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Trusted Tips & Resources

How Benefits Can Help Bolster Your Employees' Mental Health AND Your Company's Bottom Line

What Mental Health Is and Why It Can’t Be Ignored

Your Group Benefits Plan Can Be a Terrific Support to Your Employees and Their Mental Health.

Here’s How.

The Business Case for Mental Health Supports in Benefits

Have You Heard of Aurora Workplace Solutions?

'Creating Brilliant Futures'

Aurora Workplace Solutions Is A Trusted Saskatoon Group Benefits and Insurance Professional!

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