Running a business means making tough decisions. You need to protect the bottom line, but you also want to take care of your people. You shouldn’t have to choose between the two.

This is where dual bottom-line thinking comes in.

It’s about making smart financial decisions for the business and building a workplace that supports your employees’ health, well-being, and performance.

Because when people feel supported, they stay longer, perform better, and contribute more. That’s good for them – and good for business.

What is the “dual bottom line”?

The first bottom line is what most business owners already measure: profitability. It’s about revenue, margins, and cash flow.

The second bottom line is about people. It measures how your business supports the physical, mental, and financial well-being of your employees.

We believe the two are connected. You can’t have one without the other – not for long, and not sustainably.

Investing in your team is one of the smartest ways to protect your company. But it has to be done strategically.

Balancing support with sustainability

We often meet business owners who want to offer the best to their people, but they’re overwhelmed by costs, compliance, or complexity.

They ask:

• “Are we spending too much on benefits?”
• “Are we offering the right things?”
• “How do we protect our business if something goes wrong?”
   

The good news is: you don’t have to offer everything – just the right things, in the right way. And that starts by understanding what your people actually want and need.

What employees value most: Choice and flexibility

When we ask employees what they value in a benefits plan, we hear the same answer across industries and age groups: Choice. Flexibility. Simplicity.

That means a traditional plan that tries to cover everything may not be the best fit. It can lead to higher costs and lower satisfaction.

Instead, employers are having success with plans that offer targeted core benefits—and then give employees more control through tools like health spending accounts (HSAs) or wellness spending accounts (WSAs). These accounts allow employees to choose what matters most to them—whether that’s mental health support, physiotherapy, or orthodontics for their kids.

Another growing trend is the move towards flexible benefits plans (also known as “flex plans”), where employees choose from a menu of coverage options or packages based on what best suits their needs and family situation. While flex plans used to be reserved for large corporations, they’re now available to businesses with as few as 50 employees. These plans offer greater personalization, helping employers control costs while offering meaningful choice. In fact, according to a recent Benefits Canada Healthcare survey, plan members with flex plans (78%) were more likely to rate their plan as good or excellent, compared to those who had a traditional plan (73%).¹

When employees are given more flexibility and choice, they’re more likely to use their benefits in ways that actually matter to them. That means:

• Better use of benefits
• Greater employee satisfaction
• A more cost-efficient plan for the business
   

Protecting the business along the way

Supporting employees is important, but so is protecting the business from risk. That’s where smart planning and design come in.

Here are three strategies we often recommend:

1. Know your liabilities

Many business owners don’t realize where hidden risks can exist in their benefits or insurance programs. For example:

• Long-term disability policies that haven’t kept up with rising incomes – creating a gap between what employees think they’re covered for and what the plan will actually pay.
• Group retirement programs with investment options that haven’t been reviewed in years, or with investment management fees that may no longer be competitive.
   

We help identify these risks early – and correct them before they become costly problems.

2. Plan for the “what ifs”

Losing a key person, serious employee illness, or shareholder death can derail a business. Having the right insurance structures – backed by clear, written plans – ensures your company has the cash to weather a crisis.

This might include:

• Key-person insurance. A life, critical illness, or disability policy on an essential employee whose absence would disrupt operations. The payout helps the business absorb the impact and fund recruitment, training, or lost productivity.
• Buy-sell agreements. A legal agreement – often backed by insurance – that lays out what happens if a business partner dies, becomes disabled, or wants to exit. It ensures a smooth transition without draining business resources or creating conflict.
• Executive benefit plans. Custom retirement or insurance strategies for key leaders that support long-term retention while managing cost and tax efficiency for the business.
• Ensuring your coverage is up-to-date. Many businesses forget to update policy amounts or beneficiary designations as people’s roles and compensation evolve, which can lead to coverage gaps or unintended payouts if something goes wrong.
   

3. Review regularly, not just when something goes wrong

Programs need to evolve as your team grows, the market shifts, and regulations change. That’s why we recommend an annual plan review. We treat these reviews like part of your business strategy, not just an HR task. We help you assess what’s working, what’s not, and what’s worth adjusting.

Your business, your people, one strategy

We’ve worked with businesses of all sizes and industries. Some have a handful of employees. Others have hundreds. But the most successful ones have something in common: They understand that employee well-being and business protection aren’t two separate goals. They’re part of the same conversation.

Our role is to help you structure your programs in a way that supports both. That means:

• Designing benefits and retirement programs with flexibility and cost-efficiency in mind.
• Making sure your risk management plans are built for longevity and clarity.
• Helping you communicate your offerings, so your team understands and values what you have to offer.
   

We don’t believe in “off-the-shelf” solutions. We believe in smart, customized plans that evolve with your company and support your people – without putting your bottom line at risk.

Let’s talk about your dual bottom line

Whether you're building your first benefits program, reviewing what you have, or planning for succession, we can help.

We work with business owners who care about their people and want to run financially strong, forward-thinking companies.

Let’s start with a conversation about what matters most to you and build a plan that helps both your people and your business thrive.

You don’t have to choose between your team and your bottom line. We’ll help you take care of both.

Sources

Benefits Canada Healthcare Survey 2024: A Perfect Storm – Frontline Perspectives to Help Navigate New Waters for Health Benefits and Wellness Initiatives. 2024. Benefits Canada. https://www.benefitscanada.com/wp-content/uploads/sites/7/2024/09/BCHS-Report-2024-ENG-Final-WEB.pdf.