More than half (54 per cent) of Canadian employees say affordability is among the top barriers to improving their well-being, according to a new survey by RBC Insurance.
The survey, which polled 1,000 working adults, found while nearly all said they need to improve their health and well-being, respondents cited barriers including lack of motivation (35 per cent), busy schedules (33 per cent), mental health (25 per cent) and long working hours (19 per cent). Notably, women were more likely than men to cite affordability issues (59 per cent), motivation (39 per cent) and mental health (31 per cent) as barriers to improved well-being.
Many respondents said they’re feeling a negative impact on their overall well-being, including declining perceptions of mental health (57 per cent), job satisfaction (55 per cent) and financial health (44 per cent), all of which declined five percentage points since 2023.
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Financial security was the No. 1 factor impacting respondents’ well-being (56 per cent), followed by sleep quality (50 per cent) and physical fitness (39 per cent). In addition, more than half (52 per cent) reported they or their spouse are contending with at least one mental- or physical-health condition. Among this group, 30 per cent reported a mental-health-related disability, indicating the need for accessible and effective mental-health support within employer-provided benefits plans.
However, just five per cent of workers with employer-provided benefits turn to them as their ‘go-to’ for help or support with well-being needs. Indeed, roughly a quarter of respondents admitted they don’t know much about their benefits coverage (24 per cent) or they don’t have or were unsure if they have employer-provided benefits (26 per cent). Fewer than a fifth noted they were uncertain about where to start to find resources (17 per cent) and/or don’t have access to resources (15 per cent) that could improve their well-being.
“This disconnect points to a critical opportunity for employers and insurers to better educate and engage employees, showing them the value-added services they may already have access to that can assist with addressing various aspects of their well-being,” said Andrejka Massicotte, RBC Insurance’s head of group benefits, in a press release. “Employers should look to improve communication around benefits, work with their benefits provider to offer more personalized solutions and make it easier for employees to access the support they need, when they need it.”
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