Employers reshape benefit strategy amid increasing focus on wellbeing and the employee experience

Canadian employers reshape benefit strategy amid increasing focus on wellbeing and the employee experience.

3 in 4 Canadian employers aspire to differentiate their benefit programs and customize their employee experience within the next two years, but only 1 in 4 do so today.

External influences on benefit strategy

• 72% Diversity, equity and inclusion
• 50% tight labour markets
• 49%increased remote working
• 49% rising costs

Stress, burnout and mental health issues exacerbated by the pandemic are key workforce challenges globally but especially in Canada (92 %).

Improved wellbeing and employee experience emerge as key success measures.

Benefit strategy success measures (Canada)

• 76% Improved wellbeing
• 60 % Effectively managed costs and risks
• 58 % Improved employee experience
• 16 % Improved retention

What are the strategic objectives that will help employers realize their aspirations of a differentiated and customized benefit strategy?

• 77% Integrate wellbeing into the benefit package:
• 70% Have an enhanced digital strategy to personalize the employee experience of benefits in two years
• 50% Enhance communication
• 45% Inclusion and diversity in benefits provision