TMX Group Ltd. is among 23 Canadian employers that have signed on to a new parental leave pledge created by Women in Capital Markets. The pledge provides a roadmap for organizations to follow to ensure their parental leave policies and practices are inclusive and equitable to all those who use them, including non-birth parents and […]
More than four in 10 (42 per cent) global employees consider the availability of fertility benefits through their employer a ‘deal breaker’ in accepting a job, according to a new survey by Carrot Fertility. The survey, which polled 5,000 people across Canada, India, Mexico, the U.K. and the U.S., also found two-thirds (65 per cent) of […]
An opinion piece on how certain aspects of the Quebec government’s rules and constraints on private drug plans affect pharmacy costs was the most-read story on BenefitsCanada.com this past week. 1. Sounding Board: Why do Quebec’s private drug plans pay higher pharmacy fees? 2. Custodial, maintenance workers at TMU striking over pension contribution increase 3. Half of Canadian benefits providers […]
The annual spend per private drug plan member increased by 6.3 per cent in 2022, according to Express Scripts Canada’s annual drug trends report. Across both traditional and specialty drugs, the increase was primarily driven by a 5.4 per cent rise in plan members making a claim, which reversed the trend seen in 2020 and […]
While gender affirmation and fertility benefits coverage still isn’t included in all group benefits plans, around half of Canada’s group benefits providers include gender affirmation coverage (50 per cent) or fertility benefits coverage (59 per cent) in some of their plan offers, according to an exclusive survey by Benefits Canada. The survey, which polled Canada’s […]
Unlike other Canadian provinces and jurisdictions, the Quebec government imposes rules and constraints on private drug plans that affects pharmacy costs. For example, in all provinces except Quebec, the amounts billed by pharmacies to private drug claims are controlled through the following measures: fees are displayed in pharmacies so patients can compare — however, the […]
As technology advances and plan members’ needs become more diverse, the relationship between benefits plan sponsors and providers is adapting to fit these changes. Sarah Beech, chief executive officer of benefits and consulting at Arthur J. Gallagher & Co., believes the trend of employees wanting more from their employers is the starting point for this […]
Schneider Electric’s senior compensation and benefits leader talks about adapting benefits to flex work, artificial intelligence and time spent gardening. Q: What top challenges do you face in your role? A: Labour market trends over the last two years have had a pronounced impact on expectations around rewards, leading to a greater emphasis on staying […]
The union representing 70 employees at Northern Transformer in Vaughan, Ont. has ratified a four-year collective agreement that includes pension and benefits gains. The agreement introduces a group registered retirement savings plan and a deferred profit-sharing plan in which the company will provide a matching contribution of three per cent of regular earnings, capped at […]
Employee absences and presenteeism are costing Canadian employers nearly $645 million annually, according to a new report by Manulife Financial Corp. The report — which analyzed data from nearly 50 Manulife group benefits plan sponsor clients, as well as survey responses from more than 4,900 employees — found an average of 48 days per employee were […]