How to Boost Your Hiring and Retention with 3 of the Most Popular Benefits with Canadians

Published on
March 28, 2024

[et_pb_section fb_built="1" _builder_version="3.22"][et_pb_row _builder_version="3.25" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4" _builder_version="3.25" custom_padding="|||" custom_padding__hover="|||"][et_pb_text _builder_version="3.27.4" background_size="initial" background_position="top_left" background_repeat="repeat" hover_enabled="0" sticky_enabled="0"]With nearly ½ of businesses looking to hire in the first half of 2023, making sure you can compete in this record-breaking labor market has never been more important. Canadians are also looking to capitalize on this hot labor market. Recent reports have found that 81% of Canadians are planning to change jobs this year. But salary isn’t necessarily the best or most cost-effective way to compete. Recent reports have found that ¾ of Canadians under 45 would leave their job for a position with better benefits.But even if you know that benefits are a great way to boost your hiring and retention, it can be challenging for small businesses. Traditional insurance plans are expensive and confusing. Plus, they don’t always provide the benefits that your team wants and needs.Today there are three benefits that Canadians are looking for from employers.

  1. Financial Wellness benefits and Registered Retirement Savings Plans (RRSPs), continue to be one of the most popular benefits with Canadians. Helping your team save for retirement can be a major draw and retention tool for your talent strategy. Recent reports have found that many Canadians are struggling to save for retirement. This trend is particularly stark amongst young Canadians with nearly 60% of Gen-Z workers saying that they haven’t started to save for retirement.
  2. Wellness benefits are also a growing with Canadians and have been changing the landscape and future of work. More than ever Canadians are looking for more than just traditional health benefits from their employers. They are looking for coverage for health supports, stress management and other extended wellness benefits. These help with promoting a healthy work environment and can greatly improve employee satisfaction. This is why nearly 2/3 of U.S. employers are boosting their wellness programs in 2023.
  3. More and more Canadians are also looking for Healthcare Spending Accounts (HSAs) from their companies. A recent RBC insurance survey found that HSAs are the second most popular benefit with Canadians. Only mental health supports beat them.

With a BeniPlus Wallet you can provide your team with all three of these popular benefits. Our flexible wallet design allows employers to set a benefits budget and determine which of our 5 benefits categories they would like to offer. Your team members can then customize their benefits plan to fit their individual needs.Our plans are affordable. There are no monthly premiums, no-floats required, and you never pay for benefits your team does not want or need. You only ever pay a simple 7.5% administration fee on approved claims.For more information about the BeniPlus Wallet, get a quote today!Sincerely,Stephen DeKuyperCo-founder and President[gravityform id="16" title="true" description="true"][/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

Blog
Category

How to Boost Your Hiring and Retention with 3 of the Most Popular Benefits with Canadians

Stephen DeKuyper
March 15, 2023
5 min read

[et_pb_section fb_built="1" _builder_version="3.22"][et_pb_row _builder_version="3.25" background_size="initial" background_position="top_left" background_repeat="repeat"][et_pb_column type="4_4" _builder_version="3.25" custom_padding="|||" custom_padding__hover="|||"][et_pb_text _builder_version="3.27.4" background_size="initial" background_position="top_left" background_repeat="repeat" hover_enabled="0" sticky_enabled="0"]With nearly ½ of businesses looking to hire in the first half of 2023, making sure you can compete in this record-breaking labor market has never been more important. Canadians are also looking to capitalize on this hot labor market. Recent reports have found that 81% of Canadians are planning to change jobs this year. But salary isn’t necessarily the best or most cost-effective way to compete. Recent reports have found that ¾ of Canadians under 45 would leave their job for a position with better benefits.But even if you know that benefits are a great way to boost your hiring and retention, it can be challenging for small businesses. Traditional insurance plans are expensive and confusing. Plus, they don’t always provide the benefits that your team wants and needs.Today there are three benefits that Canadians are looking for from employers.

  1. Financial Wellness benefits and Registered Retirement Savings Plans (RRSPs), continue to be one of the most popular benefits with Canadians. Helping your team save for retirement can be a major draw and retention tool for your talent strategy. Recent reports have found that many Canadians are struggling to save for retirement. This trend is particularly stark amongst young Canadians with nearly 60% of Gen-Z workers saying that they haven’t started to save for retirement.
  2. Wellness benefits are also a growing with Canadians and have been changing the landscape and future of work. More than ever Canadians are looking for more than just traditional health benefits from their employers. They are looking for coverage for health supports, stress management and other extended wellness benefits. These help with promoting a healthy work environment and can greatly improve employee satisfaction. This is why nearly 2/3 of U.S. employers are boosting their wellness programs in 2023.
  3. More and more Canadians are also looking for Healthcare Spending Accounts (HSAs) from their companies. A recent RBC insurance survey found that HSAs are the second most popular benefit with Canadians. Only mental health supports beat them.

With a BeniPlus Wallet you can provide your team with all three of these popular benefits. Our flexible wallet design allows employers to set a benefits budget and determine which of our 5 benefits categories they would like to offer. Your team members can then customize their benefits plan to fit their individual needs.Our plans are affordable. There are no monthly premiums, no-floats required, and you never pay for benefits your team does not want or need. You only ever pay a simple 7.5% administration fee on approved claims.For more information about the BeniPlus Wallet, get a quote today!Sincerely,Stephen DeKuyperCo-founder and President[gravityform id="16" title="true" description="true"][/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]

Insights to your inbox

Get the best and latest in employee benefits delivered straight to your inbox!

You can unsubscribe any time, no hard feelings.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.