Perks a new weapon in talent war

As the labour market tightens and competition for talent reaches new heights, companies are revisiting their benefits in order to attract and retain quality employees.

A poll of over 2,100 payroll professionals ranked the frequency of all 39 categories of taxable employee benefits offered in Canada, and the results suggest that employers are reacting to the shifting labour market. Group-term life insurance continues to be the prevalent benefit among Canadian employers, offered by 61%. Motor vehicle allowances are second, at 46%, with tuition fees and disability benefits tied for third at 42%, and professional membership dues following closely at 39%.

A relatively high importance was also placed on counselling (21%), suggesting that employers are recognizing the detrimental effects of workplace stress and are taking steps to counter it.

 

The Stats: Smoker Stats

Most smokers know that their addiction is bad for their health, but many are unaware of its effects on other workers and on productivity.

  • 80% of smokers are unaware of how much smoking impedes their productivity
  • 73% of non-smokers say they take fewer breaks than their smoker colleagues (1.9 versus three)
  • 52% of non-smokers say they’re bothered by their co-workers’ smoking
  • 27% of non-smokers believe that being a non-smoker has helped their chances for a promotion
  • 10% of smokers have lied to colleagues about being a smoker

 

 

Hot Topic: Mental illness a growing concern

It’s not a matter of if but when the next influenza pandemic will strike. A new report suggests that there’s a 26% to 65% chance that Canada will experience an influenza pandemic by 2017. The World Health Organization is encouraging all nations to stockpile antiviral drugs in preparation for a potential outbreak. Antiviral drugs would serve as a stopgap measure, buying time until scientists can develop a vaccine to target the specific strain of virus that is causing the outbreak. Canada’s current stockpile would cover only 17% of the population, so employers have a major role to play in pandemic preparedness.

In the event of a flu pandemic, companies could experience severe absenteeism of 30% to 40% of their employees. Prolonged absenteeism could have an adverse effect on revenues and profits by affecting business continuity. Corporate pandemic preparedness, including stockpiling antiviral drugs, is critical.

Sources: Sources: Perks — Canadian Payroll Association, November 2008; Influenza pandemic — The Schulich School of Business, Making a Case for Investing in Pandemic Preparedness, June 2008; Prevention — The sanofi-aventis Healthcare Survey 2008; Smoking — Leger Marketing Research, Research Series on Smoking Behaviour, August 2008.

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© Copyright 2008 Rogers Publishing Ltd. This article first appeared in the November 2008 edition of WORKING WELL magazine.