More than two-thirds (69 per cent) of Canadians would choose a new job with a group savings plan instead of staying at a current job without one, according to a new survey by Nest Wealth Asset Management Inc.

The survey also found money is the leading stressor (42 per cent) for Canadian workers, cited ahead of work (23 per cent), health (19 per cent) and relationships (17 per cent).

Read: Canadians rank money as greatest stress: survey

The survey also found 82 per cent of respondents believe it’s important to have a group savings plan through their workplace. Three-quarters (75 per cent) of women and 65 per cent of men said they feel they aren’t saving enough for retirement. Among employees who contribute to a workplace plan, 79 per cent said they feel better informed and know how much they need to save for retirement, which reduces stress.

“We know that happy employees collaborate better, make stronger leaders, think more creatively, are willing to take on new challenges and are less absent,” said Randy Cass, founder and chief executive officer of Nest Wealth, in a press release. “Our study found that the simple act of offering a group [registered retirement savings] plan can significantly increase employee’s confidence and sense of security both in the workplace and at home.

“By helping alleviate the stress related to financial security, Canadian companies can have a greater chance to attract and retain talented employees, play a positive role in their employee’s lives and create a healthier company culture and a stronger Canadian workforce.”

Read: Half of Canadians say financial stress is affecting workplace performance: survey

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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Janaya H:

Great article! Can you please give me the name of the survey that you’ve referenced in the article?

Monday, October 22 at 1:24 pm | Reply

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