More than three-quarters (78 per cent) of plan sponsors say they’re concerned about the coronavirus pandemic’s long-term impact on the cost of health benefits plans, up from 71 per cent in 2021, according to the 2022 Benefits Canada Healthcare Survey. Among these respondents, 31 per cent strongly agreed with this statement, up from 23 per cent […]
Half of benefits plan members (49 per cent) and plan sponsors (48 per cent) say they have a health-care spending account in 2022, compared to 39 per cent of both plan members and plan sponsors that said the same in 2021, according to the 2022 Benefits Canada Healthcare Survey. In 2017, when this question was […]
In the midst of historically high inflation and ahead of a possible recession, it’s important for employers to offer benefits like financial counselling and flexible spending accounts to support employees’ financial and mental well-being. Mercer Canada predicts a 40 per cent chance of heading into a recession, according to feedback from investment managers and relevant data. […]
When the Molson Coors Beverage Co. introduced gender affirmation benefits for its Canadian workforce early this year, it was an extension of its diversity, equity and inclusion goal to make the traditionally male-dominated brewing industry a more welcoming place for underrepresented groups. The gender affirmation benefit, which was first offered to the brewing company’s U.S. […]
The ‘Great Resignation’ is ushering in a period of great transformation for employers, the workforce and the workplace of the future, said Charmaine Alexander, senior advisor of disability management at Desjardins Insurance, during a session at Benefits Canada’s 2022 Benefits and Pension Summit on June 1. With labour shortages continuing to plague the workforce, Alexander believes […]
3M Canada’s two 2021 Workplace Benefits Awards wins are empowering employees to take control of their health and wellness journey, says Jacqueline McLennan, the company’s benefits specialist. The organization’s revamped, targeted mental-health strategy won the mental-health program award for employers with fewer than 5,000 employees. The strategy built on 3M’s existing mental-health programming and includes […]
Over the course of the coronavirus pandemic, health-care spending and wellness accounts have been vital tools in employers’ support toolboxes. Whether it’s increasing the dollar amount allotted to these accounts or broadening the eligible services covered under wellness accounts, employers are maximizing these offerings to help employees endure the prolonged public health crisis. Since HCSAs […]
In 2021, Foresters Financial redesigned its retirement and benefits plans to be more flexible, relevant and competitive, modernizing the plans with the recognition that employees have varying financial priorities. “Overall, we have a very diverse employee base,” says Ken Adams, the financial services company’s vice-president of total rewards. “Someone who is a few years out […]