As Canadians struggle to save amid the rising cost of living, employers play a crucial role in facilitating savings options for their employees, says Doug Crowe, vice-president of RBC Group Advantage, the Royal Bank of Canada’s group retirement division. “The first important step employers can make is deciding to sponsor a group savings plan for employees, which […]
Plan members with a workplace wellness culture are much more likely (89 per cent) to be satisfied with their jobs compared to those without one (59 per cent), according to the 2023 Benefits Canada Healthcare Survey. It found plan members with a workplace wellness culture were also more satisfied with their health benefits plan (81 per cent […]
When Jessica Charbonneau decided to have a child through assisted reproduction a few years ago, it wasn’t cheap, but her employer helped shoulder some of the costs. Charbonneau, a 36-year-old student affairs case manager at the University of Toronto’s Mississauga campus, started with intrauterine insemination, spending a total of $15,000 for six rounds. The university’s […]
Canadian employers say competition for talent (84 per cent), rising mental-health issues (63 per cent) and a focus on inclusion and diversity (48 per cent) are the top factors influencing their benefits strategy, according to a new survey by WTW. The survey, which polled more than 5,200 employers representing 22.9 million employees around the world, found Canadian employers […]
Benefits Canada is pleased to announce the finalists of the 2023 Workplace Benefits Awards. This year’s awards program welcomed more than 115 entries across nine categories, all highlighting how Canada’s leading employers are supporting their employees’ physical, mental and financial well-being. The winners will be announced on Oct. 20 at the King Edward Hotel in Toronto during the 2023 Healthy Outcomes Conference, […]
With Canadians’ financial priorities shifting alongside a turbulent economic climate, including inflation levels not seen in decades and a never-ending rise in the cost of living, it isn’t surprising capital accumulation plan members’ commitment to retirement savings is taking a hit. Benefits Canada’s 2023 CAP Member Survey found just 41 per cent of respondents rated […]
The U.S. Department of Labor is launching an employee ownership initiative to encourage more employers and employees to take advantage of these opportunities. The new initiative will fall under part of the SECURE 2.0 Act — which was passed by Congress in 2022 — and aims to empower workers through ownership arrangements and educate them […]
Three-quarters (76 per cent) of U.K. employers think it’s important to retain employees over age 50, with almost a third (32 per cent) saying it’s very important, according to a new survey by Aviva. It also found 10 per cent of employers have introduced support over the last year for retaining employees aged 50 or […]
Canadian employers are investing in innovative financial, physical and mental-health benefits to drive their attraction and retention efforts, according to a new survey by Mercer. The survey, which polled more than 300 employers, found 59 per cent said they’ve invested in employee discount programs, followed by budgeting and other financial wellness education and supports (51 […]
TD Bank Group credits its culture of care for the recent enhancements to its benefits plan. “We place a great amount of emphasis and focus on this, which is a key element of our [employee] promise,” said Susy Michor, the bank’s vice-president of human resources, global retirement benefits and well-being, during Benefits Canada’s 2023 Benefits […]