The majority (80 per cent) of Canadian employers say they enhanced their total rewards programs in 2022 to better attract and retain employees, up from 63 per cent in 2020 and 2021, according to a new survey by Arthur J. Gallagher & Co. The survey, which polled more than 450 employers, found 44 per cent […]
The modern economy is highly uncertain, with inflation and rising interest rates cutting into bottom lines everywhere. Employers are nervous as the cost of capital and the cost of their inputs seems to rise every day. But employees are nervous, too. And since no one knows when inflation will end, it’s difficult for anyone to […]
In the first quarter of 2022, new annual premiums for supplemental health insurance products totalled $1.1 billion in the U.S., a six per cent increase from the same period last year, according to LIMRA’s latest workplace benefits sales surveys. Most workplace supplemental health insurance product lines ― accident, critical illness, cancer and hospital indemnity insurance ― […]
The percentage of U.S. employers offering new or additional voluntary benefits increased by 41 per cent during the 2022 enrolment period, according to a new survey by Aon. The survey attributed this growth to employers’ talent retention and attraction strategies, as well as employee demand for supplemental health insurance products during the coronavirus pandemic. The […]
A ruling by the Supreme Court of British Columbia on the B.C. Credit Union Employers’ Pension Plan’s normal retirement date was the most-read story on BenefitsCanada.com over the last week. Here are the five most popular news stories of the week: 1. B.C. court upholds pension plan’s decision to increase retirement age 2. Ontario NDP platform includes dental […]
A Toronto-based software company is offering a virtual veterinarian service through its benefits program. Nicola Watson, human resources manager at Tribalscale Inc., says pet-owning employees can use the service, operated by Vetster Inc., to schedule up to four virtual vet visits per year. She notes the offering is in line with TribalScale’s decision to shift […]
While 68 per cent of employers said they’ve enhanced their well-being value proposition as a result of the coronavirus pandemic, only 51 per cent of employees believe their employer is focused on supporting their total well-being, according to a new survey by Buck. The survey, which polled nearly 700 U.S. employees and more than 200 […]
While 70 per cent of benefits-eligible U.S. workers said they’re more likely to work for an employer that offers employee-paid voluntary benefits, just 49 per cent said they’ve taken advantage of these offerings, according to a new survey by Voya Financial Inc. The survey, which polled around 1,000 respondents, found 31 per cent don’t fully […]
In an art gallery, people often recognize and appreciate the arrangement of the pieces as much as the works of art themselves. When employers offer voluntary benefits, they’re hoping that employees appreciate the offering. Above and beyond that, if plan members recognize the program as a customized suite of benefits that supports their unique needs, even better. Another conclusion […]
ABC Technologies Inc.’s director of total rewards talks wellness, new retirement savings plans and gardening. Q. What top challenges do you face in your role? A. The top challenge is a combination of many factors linked to the unprecedented times we’re experiencing. Like many organizations, the pandemic hit us hard. We’ve had to reduce our […]