Nearly three-quarters (73 per cent) of Canadian employees aged 18 to 34 and 69 per cent of workers aged 35 to 44 say they’re significantly more likely to leave their current employer for another role offering better benefits, according to a new survey by RBC Insurance Services Inc.
The survey, which polled more than 1,000 employees, found 61 per cent of younger workers reported lower levels of overall well-being — down from 64 per cent in 2021 — and 58 per cent reported a decline in their mental health, down from 63 per cent last year.
Respondents indicated their top three benefits are mental-health support (88 per cent), health-care spending accounts (80 per cent) and options to add additional coverage to better meet personal or financial objectives (79 per cent).
Read: U.S. employees having difficulty accessing mental-health benefits: survey
Workers with employer-provided benefits indicated higher rates of job satisfaction (64 per cent) compared to employees without benefits (58 per cent), as well as higher overall levels of well-being (64 per cent versus 54 per cent), physical health (62 per cent versus 54 per cent), mental health (60 per cent versus 53 per cent) and financial health (55 per cent versus 38 per cent).
“Given our collective experience since March 2020, it’s not surprising to see a range of worries and stressors reported by working Canadians,” said Julie Gaudry, head of group benefits at RBC Insurance, in a press release. “The knock-on impacts of a tightening labour market have made flexible and tailored employer-provided benefits desired by many and clearly a draw [for employees], particularly for younger generations.”
Read: Majority of North American employees seeking financial wellness benefits, flexible work: survey