Research for the 2021 Robert Half Salary Guides revealed the following benefits that businesses most frequently offer.
- Extended Health insurance — After salary, this benefit is of the utmost importance to many job candidates and typically includes medical coverage for employees and their families. In a Robert Half survey of more than 500 HR managers in North America, this benefit came in at No. 1, with 68% of employers offering it to their employees. And with the pandemic upending so many lives over the last two years, it is expected to become even more important to job candidates.
- Paid time off — Whether it’s for vacation, illness or bereavement, personal time off (PTO), it is highly valued by employees and a great way to combat burnout and attract new employees.
- Dental insurance — Dental insurance is the third most common benefit offered by employers.
- Retirement savings plans — An RRSP plan can be an excellent way to motivate employees to save for retirement. Matching contributions up to a certain amount can encourage employees to stay with your company.
- Life insurance — Also in the top five benefits offered to employees is life insurance. Life insurance and accidental death & dismemberment insurance (AD&D) are important to employees looking to plan ahead and feel some reassurance in protecting their families.
The pandemic has many employers looking to re-design their plans to ensure that the benefits being offered align with best practices. We can assist in all aspects of your group benefits plan re-design, whether adding a new benefit such as Critical Illness or adding flexibility through a Health Care Spending Account (HCSA) or transitioning to a full flex model.
Source: Robert Half Canada website