As inflation hits a record high in Canada, employers are helping workers weather the storm through various benefits and compensation offerings, according to several experts. In October, the Canadian inflation rate increased year over year by a record 4.7 per cent, the largest increase since February 2003, according to Statistics Canada. The Bank of Canada […]
Almost half (46 per cent) of small businesses that are currently experiencing hiring difficulties have increased wages, while 27 per cent have increased benefits and 19 per cent have introduced a shorter work week, according to a new survey by Maru Public Opinion for ADP Canada Co. It found while 79 per cent of small […]
More than four in 10 (43 per cent) employers have implemented, started to implement or are considering climate metrics for their executive incentive plans, while another 27 per cent may consider these in the future, according to a new survey by Willis Towers Watson. The survey, which polled more than 90 North American companies, found nearly half […]
The Royal Bank of Canada is focusing on mental health to engage and retain employees as the bank shifts to a hybrid work model. While the bank already began upgrading its mental-health benefits in 2018, the coronavirus pandemic highlighted the need to continue supporting employee mental health, says Andrejka Massicotte, senior director of benefits and wellness […]
More than 19 months into the coronavirus pandemic, employers are focusing on enhanced mental-health offerings and streamlined communications for their benefits and pension plans. During a virtual roundtable on Oct. 14, the 2021 Workplace Benefits Awards finalists discussed the changes brought about by the pandemic and how they’ve adapted their benefits and pensions offerings, while looking […]
Three-quarters (74 per cent) of plan sponsors described the quality of their health benefits plan as excellent (22 per cent) or good (52 per cent), down from 80 per cent in January 2020, according to the 2021 Benefits Canada Healthcare Survey. It found employers with more than 500 employees were more likely to describe their plan […]
More than a third (35 per cent) of employees said they’re considering leaving their job or are unsure about whether to stay with their company, according to the latest monthly mental-health index by LifeWorks Inc. Additionally, the mental-health scores of these groups (negative 21.9 and negative 16.7, respectively) were more than three-times worse than for […]
A Toronto-based seafood market is using its benefits and compensation offerings to engage employees in an industry hit particularly hard by the coronavirus pandemic. David Owen, owner of De La Mer, recently introduced a profit-sharing plan and health benefits for employees of his four stores. While the pandemic delayed the launch of these programs by […]
As innovative medicines become more widely covered in workplace drug plans, employers are tasked with finding new ways to control costs while ensuring members receive the best value. “Obviously, this is good because such offers provide more treatments for employees and their families that can help get them back to the workplace sooner rather than […]
Canadians reported slightly higher levels of financial well-being in the summer of 2021, with many focusing on saving for retirement, according to a new survey by LifeWorks Inc. The survey, conducted among 3,000 respondents, found a financial well-being index score of negative 1.6 compared to the pre-coronavirus pandemic benchmark, up slightly from negative 2.8 in […]