Sometimes it’s not the job that counts, but what comes after. Just as the federal and provincial/territorial governments prepare to unveil the enhanced Canada Pension Plan, workers are making their needs known.
Retirement benefits are deal breakers
The latest ADP Canada Sentiment Survey polled 862 employed Canadians and found that 77 per cent would hand in their notices if retirement saving support or pensions were offered elsewhere.
“These numbers are an indication that employers should pay close attention to what’s important to their employees, and to what is being offered by their competitors,” says Sooky Lee, Division Vice President and General Manager, HR Business Process Outsourcing at ADP Canada. “Most companies track salaries to make sure they are competitive, but many forget about other compensation factors, such as retirement programs.”
Never too soon to think about retirement
Lee adds that both old and young Canadians “will make a switch if they see more value in the long term”. Almost 78 per cent of Millennials said retirement benefits would be enough to merit a job change.
“Workers in the 18 to 34 age group are just as interested as their older colleagues in having retirement support,” Lee says.
How to retain your talent
Organizations should aim to balance financial benefits with other perks. These include:
- Working Remotely
- Flexible hours
- Compressed work weeks
- Extra time off
- Casual day or casual workplace
- Volunteer or donation opportunities
