An employee value proposition (EVP) is your company’s promise to employees. It defines the unique benefits, experiences, and values they receive in return for their contributions. A strong EVP helps attract, engage, and retain the right talent. According to bdc.ca’s ebook on how to hire and retain top employees, you are competing for workers in Canada’s tight labour market where almost 40% of Canada’s small and medium-sized businesses are already having difficulty finding new employees and the situation isn’t expected to get better for at least a decade.
While there is no universal EVP model to help you over the next decade, there are key elements that commonly appear in an EVP — including employee benefits, particularly health insurance.
Employee expectations are rapidly evolving
The people that work for you or consider you as a potential employer are no longer satisfied with vague promises of “growth opportunities” or a “great company culture.” They want a workplace that lives up to its values.
Data from Gallup’s State of the Global Workplace 2025 Report shows that around the world employee engagement is dropping, and that has a big effect on productivity and retention. In the same report, Gallup estimates that this dip in engagement costs the global economy a staggering $438 billion in lost productivity.
What does that mean for your company? While your business may be unique, you likely face the same challenges – and need a strategy to help bolster productivity and employee engagement. It might start with strengthening your EVP.
What is an employee value proposition (EVP)?
An employee value proposition is a company’s promise to its employees, outlining the benefits and rewards they receive in exchange for their skills, experience, and contributions. It’s essentially the essence of what makes a company a great place to work and a compelling reason for both current and prospective employees to choose your organization over others.
Offering a competitive salary may attract employees initially, but it’s not enough to retain them. What truly makes people stay is growth and purpose, and a workplace that genuinely prioritizes their well-being.
To win and retain top talent, especially when you are a small business, it’s critical to differentiate your EVP benefits and highlight them. Health insurance is fundamental, because it signals to your employees that their physical health, mental health, financial well-being and even their families are important to your organization.
Here’s a real example of an EVP from Virgin Active Limited, the company with a chain of health clubs in the UK, southern Africa, Italy, Australia, and Thailand:
“The goal of our employee value proposition solution is to help every team member achieve optimal health, which leads to better immunity, higher energy levels, reduced stress levels, increased productivity, and more.”
An EVP with a clear focus on health is more than just ‘words’ when you offer health insurance benefits.
Offering health insurance benefits demonstrates your commitment to employee well-being
When it comes to improving employee well-being, affordability is one of the top barriers your employees can face. Almost everyone needs to improve their health and well-being, it’s hard to be motivated and have the right mental health ‘head space’ to focus especially with a busy schedule that includes work and family needs.
Offering health insurance benefits provides the resources and support your employees need to take steps to take care of their health and be productive
Access to Preventive Care
Health insurance often includes coverage for preventive treatments that can help employees address health issues before they impact work performance. Properly treating an injury with physiotherapy, for example, can prevent the serious long-term implications of chronic pain which may limit work performance and cause absences.
Financial Protection
Medical expenses can be overwhelming, especially in the event of unexpected health issues. If your employees only have government health coverage, they are left with too many healthcare costs not covered, and out-of-pocket expenses they may not be able to afford. If those treatments include ongoing prescription drug therapy, this could have serious long-term implications for their finances, and it may hamper them from attending to their health and ability to continue working.
Health insurance provides a safety net, covering a portion of many healthcare costs. This financial protection ensures that your team can focus on maintaining their health and well-being or recovering from a health event without the added stress of extra medical bills.
Comprehensive Health Benefits
Affordable health insurance plans typically offer a range of benefits, including mental health services to help employees feel better balanced and supported. You can offer prescription drug coverage, and you can include dental coverage more robust than the public plan. Your employees will be covered for some costs for treatment by specialists, including psychologists, massage therapists, chiropractors, acupuncturists, physiotherapists, and more. These comprehensive benefits ensure that they have access to the necessary resources to maintain both their physical and mental well-being.
At SBIS we offer hundreds of health insurance options
Coverage is available to all of your part-time, full-time and contract employees if they are a Canadian resident 18 years of age or older who has provincial health insurance coverage. Everyone eligible qualifies for an affordable guaranteed acceptance plan.
Investing in affordable health insurance is a cornerstone of your company’s EVP and is one of the best decisions you can make, not only for yourself but for those you count on. Explore affordable health insurance options from SBIS today.
