Employers are facing growing pressure on their benefits plans as financial stress shapes how employees access care, use coverage and experience health outcomes across life stages, according to a new report by Beneva Inc. It found mental illness alone is estimated to cost the Canadian economy $51 billion annually, while mental-health leaves cost employers twice […]
In times of increased economic uncertainty, the number of tough financial choices facing the average person seems to rise exponentially. Clashing priorities battle it out: Will the latest paycheque be swallowed by the mortgage, car payments and bills? Can $100 or more be spared each month for an emergency fund? Or to tuck away in […]
One employee touts the benefits of an ESOP, while an academic notes it depends on individual financial circumstances and plan design. Morgan Zirul, store manager, Starbucks Corp. When I joined Starbucks in 2017, I was 18 and not really thinking about retirement or long-term financial planning. During onboarding, I learned about the company’s benefits, including […]
PepsiCo Canada may be known for quenching thirst and satisfying snack cravings, but the organization’s leadership recently identified another kind of demand: clearer, more personalized financial guidance for employees. The organization already had a comprehensive suite of financial benefits, including savings programs and educational resources, and employees were using them. “We already had strong engagement […]
In its sophomore year under its new branding, the Employee Savings Survey (previously known as the CAP Member Survey) reflects the changing landscape of workplace savings programs as plan members face competing financial priorities and employers step up to expand their offerings. Going even further, some of this year’s results were broken down into different […]
As millennials become a dominant demographic in Canadian workplaces, employers are rethinking how they communicate their savings plans. Indeed, that shift is reshaping how EllisDon approaches communications and engagement with its savings program, says Marie-Lynn Bromilow, the construction services company’s vice-president of total rewards, noting millennials make up a significant portion of its plan membership. […]
“Financial autonomy is something a lot of Canadians are striving for every day — alongside that, they can achieve financial empowerment,” said Avnee Patel (pictured right), senior director of business development and group retirement savings at Desjardins, during a fireside chat at Benefits Canada’s inaugural Women’s Health & Wealth Summit. “Growing up, financial empowerment felt […]
Financial stress is an ever-present concern for many employees — among women, it’s even more pronounced. A survey by the Financial Resilience Institute found almost two-thirds (72 per cent) of women said money worries cause them emotional stress, eight percentage points higher than men, while 71 per cent of Canadian women are stressed about not […]
Employers can remove friction from benefits and pension plan design by encouraging ease of use, communications and reducing decision fatigue, according to a panel discussion at Benefits Canada’s inaugural Women’s Health & Wealth Summit. According to the 2025 Employee Savings Survey, women were less likely than men to describe their financial health as excellent or […]
Ottawa Community Housing Corp. is educating employees about their benefits offerings through a new monthly communication campaign. The campaign, which started in January, ties the employer’s benefits program to seasonal campaigns such as Heart Month in February and Financial Wellness Month in November by highlighting the corresponding aspects of the plan. Michael Dimaano, senior manager […]