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Five Trends That Will Change the Way Your Company Structures Benefits

Mar 20, 2019

Employee expectations are changing, and nowhere is this more evident than in benefit offerings.

Canadian employers are being challenged to appeal to a multi-generational workforce. Varied employee needs have given rise to an evolved style of benefit offerings: one that is flexible, but keeps an eye on cost.

How can you stay ahead of the curve? We surveyed 217 organizations for our new Benefits Benchmarking 2019 report, collecting data that reflect the experiences of 1.2 million employees.

Here are five trends in employee benefits that will give your organization an edge:

More Flexible Benefits

Flexibility is the name of the game in 2019. Increasingly, employers are managing costs by letting employees decide what supports are best for them and their families. In our survey, we found that a record-breaking two-thirds of Canadian employers are now offering more innovative health care spending accounts (HCSAs) to employees at all levels.

Wellness Apps Supporting Employee Well-Being

Wellness apps are proving to be a win-win. Employees who use these apps are reaping the rewards of being proactive about their physical and mental health. Meanwhile, employers benefit from happier, healthier employees.

Medical Marijuana Offered as an Employee Benefit

The green wave has arrived in Canada. It’s no surprise that medical cannabis is starting to find its way into employee benefit offerings. While only 6 per cent of organizations currently cover medical cannabis, close to half (48 per cent) of respondents report they are considering doing so in the future.

Outsourcing Benefits Administration

With the emergence of new HR technologies, outsourcing your benefits administration can significantly impact your bottom line while meeting employees’ wellness needs.

Offering Mental Health Support to Employees

Conversations around mental health in the workplace have hit critical mass, bolstered by the gigantic #BellLetsTalk movement. Approximately two-thirds of all responding organizations report enhancing or introducing strategies to support employees’ mental health and wellness.

How does your organization stack up? Optimize your employee benefits with data from 217 organizations. Get the Benefits Benchmarking 2019 report.