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What’s inside…

Is waiting for renewal to review your construction company’s group benefits costing you thousands? The answer is yes. In this insider’s guide, discover why delay is your most expensive decision—and how proactive planning can save you up to 25% annually. Learn the real numbers, avoid costly myths, and access a custom-built roadmap for transforming your benefits strategy before renewal.

👉 Ideal for construction company owners in Ontario navigating rising costs, compliance issues, and fierce competition for skilled workers.

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📁 Table of Contents

1. The Costly Renewal Myth
2. The Financial Landscape of Construction Benefits
3. Breaking Down the Real Cost of Inaction
4. The Economic Perfect Storm
5. Decoding Group Benefits for Construction
6. The AEC Benefits Approach
7. Your Strategic Roadmap
8. The Leadership Challenge

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💥 The Costly Renewal Myth

Let’s get this out of the way: your insurance contract is not a prison sentence. It might protect your rates, but it doesn’t shackle you to a specific provider. Yet, many construction company owners cling to the idea that they must wait until renewal to make any changes.

Here’s what I hear all the time:

• “We’ll look at it closer to renewal.”
• “We’re locked in until next year.”
• “Our broker said we should wait.”

All wrong.

The reality is, your benefits agreement only guarantees pricing. You’re free to explore better options at any time, especially if the current plan is overpriced, underperforming, or completely misaligned with the needs of your team.

**Every month you wait is another month of: **

• Wasted spend
• Missed opportunity
• Growing frustration among your staff

This misconception is costing mid-size construction companies tens of thousands every single year.

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💸 The Financial Landscape of Construction Benefits

Employee benefits aren’t a “nice to have” anymore—they’re essential to running a successful construction business. They influence hiring, retention, morale, and financial performance.

→ Key Stats:

• Benefits represent 8% to 12% of total payroll in construction firms.
• For a 50-person company, that equals $300,000 to $500,000/year.
• Even a modest 5% savings = $15,000 to $25,000/year.

And it’s not just about saving money. A strong benefits program helps:

• Attract top talent who are fielding multiple offers
• Reduce turnover costs (which can range from $4,000 to $20,000 per position)
• Build a culture of care and loyalty among your team

“In construction, financial intelligence isn’t about cutting corners. It’s about cutting smart.” — Steffen

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🔍 Breaking Down the Real Cost of Inaction

So what’s the price of putting this off?

1. Immediate Savings Lost

By not reviewing your program mid-contract, you’re giving up potential savings with each passing month. That’s real money that could be reinvested into:

• Safety upgrades
• Equipment purchases
• Employee bonuses

2. You’re Always Behind

Insurers constantly evolve their pricing and product offerings. If you’re only checking the market once a year, you’re reacting—not leading.

3. You Lose Talent

Benefits play a key role in recruitment and retention. If your competitors are offering more relevant, attractive packages, your best crew members will walk.

4. Administrative Fatigue

Waiting for renewal often creates a last-minute scramble. HR teams are overwhelmed, decision-making becomes rushed, and communication suffers—resulting in mistakes and missed opportunities.

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🌪️ The Economic Perfect Storm

Let’s talk macro. Ontario’s construction sector is facing unprecedented pressure from all directions:

• Labour shortages are pushing wages up
• Material costs are rising 10-20% annually
• Compliance is getting more complex and costly
• Supply chain delays continue to disrupt timelines

In this environment, you can’t afford to leave any part of your financial structure unchecked. Your group benefits program is one of the biggest levers you have—but only if you treat it like a business strategy.

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🛠️ Decoding Group Benefits for Construction

Most group plans are built for white-collar offices, not job sites. That’s a major problem. Construction companies need:

✅ Industry-Specific Protections:

• Job-site injury support beyond basic WSIB
• Comprehensive disability coverage for physical laborers
• Mental health programs tailored to high-pressure work environments
• Fast, transparent claims processes

❌ What Most Providers Miss:

• Industry-specific risks
• Multiple shifts or rotating schedules
• Subcontractor and temp-worker exposure
• Customization options

One-size-fits-all benefits don’t cut it in construction. If your provider doesn’t understand your risks, they can’t manage your costs.

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🔧 The AEC Benefits Approach

We’re not just a broker—we’re a strategic partner with deep construction roots. Our process is designed to uncover savings, increase coverage relevance, and keep your benefits program proactive and powerful.

① Comprehensive Market Analysis

• Full audit of your existing benefits
• Cost breakdown by category
• Benchmarking against similar construction firms
• Gap analysis vs. modern coverage standards

② Customized Provider Matching

• We source plans from Canada’s top-tier insurers
• Match your company to the most efficient partner
• Prioritize construction-focused providers who understand your crews

③ Ongoing Strategic Support

• Quarterly reviews of claims and costs
• Year-round assistance on plan adjustments
• HR support and employee onboarding materials

Your program isn’t static. Neither is our support.

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🗺️ Your Strategic Roadmap

If you’re serious about profitability, retention, and employee satisfaction—this is your next move:

Immediate Action Plan:

1. Schedule a no-cost benefits review with our team.
2. Gather your current policy, rates, and claims history.
3. Define your priorities (e.g., cost control, injury coverage, recruiting).
4. Let us identify how your benefits program can work harder for your team.

No pressure. No pushy sales. Just insight.

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🏠 The Leadership Challenge

Every day you delay is a day you bleed money, miss talent, and accept less-than-excellent care for your people.

“Waiting is a decision. And it’s a decision that’s costing you.” — Steffen deGraaf

Great leaders in construction don’t follow the pack—they lead it. They make data-driven decisions and invest in strategies that return real value.

This isn’t just about saving 5%. It’s about building a smarter, stronger, more competitive company from the ground up.

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💬 Your Move:

Let’s talk. We’ll run the numbers and show you what’s possible.

👉 Contact AEC Benefits Today
No obligation. No waiting. Just results.