Printer icon Print Page

Top Story

Photo of a hypodermic needle with a Canadian hundred dollar bill inside

Financial Burden of Out-of-Pocket Medical Expenses

Out-of-pocket spending on health care amounts to approximately $32 billion annually in Canada. Tax policies have the potential to help alleviate the burden of out-of-pocket health care costs for Canadians. However, it is unclear whether current tax policies actually help lessen costs and improve access to health care for lower income Canadians. Current tax measures provide greater benefits to high-income earners.

Features

Photo of hand gripping a cane handle

Employers Could Do More to Help Individuals Living With MS

Individuals affected by Multiple Sclerosis (MS) are often underemployed or unemployed, which is detrimental to their health, financial security, and the overall Canadian economy due to lost productivity. Increasing workforce participation of individuals living with MS and their caregivers would benefit not only the individual’s well-being, but also provide significant benefits to employers, government, and society as a whole.


Photo of a roll of Canadian fifty dollar bills bound by an elastic

Lack of Business Investment Could Derail Canada’s Growth

While many manufacturing industries are operating near capacity, manufacturers of transportation equipment, wood products, food, primary metal, and paper products remain reluctant to invest. In order for exports to continue to drive economic growth, a pickup in non-energy investment aimed at improving capacity is needed. Without one, capacity limitations could put a damper on Canada’s recent economic momentum.


Photo of a hand holding a Canadian hundred dollar bill

Benchmarking Provincial Tax Burdens

The tax burden is a key factor that affects both the cost of living and the cost of doing business, and also impacts economic growth and wealth creation. In both business and personal taxation, Quebec has the highest tax burden among the provinces. On the business side, Saskatchewan, New Brunswick, Alberta, and Newfoundland and Labrador have the lowest net tax burden ratios. Alberta, Saskatchewan, British Columbia, and Manitoba have the lowest personal tax burden ratios.


Photo of a child's shap matching toy

Connecting the Dots: Aligning Skills With Labour Needs

Despite Canada having one of the highest levels of educational attainment in the world, employers often voice concerns about a lack of skills among recent graduates. Our new study suggests that Canadian post-secondary institutions need to do a better job at matching their education programs to job market needs and arming graduates with employability skills.

Photo of a pair of hand typing on a laptop computer

What Skills Do You Look for When You Hire Business Graduates?

We are undertaking a study to get a clearer picture of how business education in Canada is performing, what the future state of activity should look like, and what is needed to achieve stronger outcomes. If you are a business leader and employer of business school/program graduates, we encourage you to participate in this project. Your responses will help enhance business schools and programs across Canada—and the skills of graduates entering Canada’s workplaces.


CBoC Highlights

Photo of Matthew Stewart speaking
Photo of Thy Dinh speaking
Matthew Stewart explains why business investment is necessary for Canada’s economic growth on BNN. Thy Dinh identifies what can be done to support quality of life and successful employment for people affected by MS.
   
Photo of Pedro Antunes speaking Photo of Marie-Christing Bernard speaking
Pedro Antunes discusses the impact of the Fort McMurray wildfires on the economies of Alberta and Canada. Marie-Christine Bernard discute de l’impact économique des feux de forêt de Fort McMurray sur les ondes de RDI.

In This Issue

  • Financial Burden of Out-of-Pocket Medical Expenses
  • Employers Could Do More to Help Individuals Living With MS
  • Lack of Business Investment Could Derail Canada’s Growth
  • Benchmarking Provincial Tax Burdens
  • Connecting the Dots: Aligning Skills With Labour Needs
  • What Skills Do You Look for When You Hire Business Graduates?

Previous Issues

Recent Op-Eds

Will Petro-States’ Fiscal Woes Influence Oil Price Recovery?, The Globe and Mail, June 1, 2016

Provincial Tax Systems Are Ripe for Change, The Globe and Mail, May 18, 2016

Latest Blogs

Cyber and Hybrid Threats to Canada and Its Allies

by
  • Brent Dowdall
| May 06, 2019
<table class="blogAuthor"> <tbody> <tr> <td class="baImg"><img src="https://www.conferenceboard.ca/bios/retrieveImages.aspx?id=83526" alt="Brent Dowdall"></td> <td> </td> <td class="baText"><strong><a rel="author">Brent Dowdall</a><br> </strong>Senior Manager, Research and Business Development</td> </tr> </tbody> </table> <p>Cyber security threats are now considered a global security concern on par with traditional conventional military threats. Our interconnected world means that cyber threats and hybrid warfare incorporate a complex mix of hostile actors and a wide range of tactics. The rapid evolution of technology, combined with the ability of attackers to quickly adopt new offensive tools and techniques, further exacerbates the threat. Open liberal democracies have an interest in overcoming the risks of cyber attacks—to protect the critical infrastructure we rely on, personal privacy and business continuity, and even democratic institutions themselves.</p> <p>The Government of Canada is developing cyber capabilities to protect the country from virtual threats and to work within defence alliances. Among its key partners should be European countries, working both within the North Atlantic Treaty Organization (NATO) and with the European Union (EU) itself.</p> <p>With Europe on the front lines of hostile state and non-state actors, the EU has taken a more assertive role in organizing its own cyber security defences and those of its member states. The EU’s <a href="https://pesco.europa.eu/">Permanent Structured Cooperation (PESCO)</a> initiative has put cyber security at the top of the priority list for greater collaboration and cooperation among member states.</p> <p>The <a href="https://pesco.europa.eu/project/cyber-rapid-response-teams-and-mutual-assistance-in-cyber-security/">Cyber Rapid Response Teams (CRRT) and Mutual Assistance in Cyber Security</a> project is among the most advanced of the projects under the PESCO initiative. CRRT will allow member states to help each other to ensure higher level of cyber resilience and to collectively respond to cyber incidents. Lithuania leads the EU cooperation project in cyber defence, with eight more EU member states—Estonia, Spain, Croatia, Poland, Netherlands, France, Romania, and Finland—participating in the project (Belgium, Greece, Slovenia, and Germany are observers of the project).</p> <p>The aim of this project is to integrate the expertise among member states in the field of cyber defence. The rapid response teams are able to assist with training, diagnostics, and attribution forensics, and to provide assistance in operations.</p> <p>At the <a href="https://www.eucanada.eu/">5th&nbsp;European Union Security and Defence Symposium</a>, held in Ottawa on March&nbsp;20, 2019, the panel session PESCO in Action: Confronting Hybrid/Cyber Threats will outline the progress being made on the CRRT and how Canada and the EU can work together to strengthen our shared responsibilities in the field of cyber threats. The Conference Board of Canada is a partner in developing the program for the event. Participants include senior EU officials, Canadian governments officials, and experts from both sides of the Atlantic.</p> <p>Canada is far from exempt from the potential consequences of cyber threats. The Canadian Centre for Cyber Security’s most recent threat assessment says that 2019 could be a particularly harrowing year for Canadian individuals, businesses, and institutions.<span class="sup"><a href="#ftn1-ref" name="ftn1" id="ftn1">1</a></span></p> <p>Given the high and rising threat of cyber attacks, it is also important to promote the concept of cyber resilience. Unlike cyber security, which is usually very focused on prevention and protection, cyber resilience recognizes that successful cyber attacks may be inevitable. Therefore, cyber resilience promotes the need to ensure organizations can maintain critical functions and quickly return to normal in the wake of an attack. Improving organizational cyber resilience will be the focus of the Conference Board’s <a href="https://www.conferenceboard.ca/conf/cyber-security/deafult.aspx">Cyber Security 2019: Building and Testing Cyber Resilience</a> conference.</p> <p>As governments and businesses alike face new threats, decision-makers and organizational leaders need to stay up to date on the latest cyber-security trends. Ongoing research and dialogue—by sharing the successes, weaknesses, and learnings—is perhaps the most effective defensive weapon we can collectively wield against these threats.</p> <hr> <h3>Related Conference</h3> <p><a href="https://www.conferenceboard.ca/conf/cyber-security/deafult.aspx">Cyber Security 2019: Building and Testing Cyber Resilience</a><br> May 27, 2019, Toronto</p> <br><br> <p class="footnote" style="padding-top: 1.25em;"><a id="ftn1-ref" name="ftn1-ref" href="#ftn1">1</a>&nbsp;&nbsp;&nbsp;&nbsp;Cindy Baker, <a href="https://www.itworldcanada.com/article/canada-is-a-prime-target-for-cybersecurity-attacks-in-2019/414201">“Canada Is a Prime Target for Cybersecurity Attacks in 2019.”</a> <em>IT World Canada</em>, January&nbsp;16, 2019.</p>

Four Employee Trends Disrupting Traditional Benefits Plans

by
  • The Conference Board of Canada
| May 01, 2019
<p>As workplaces become more generationally diverse, the needs of employees have become more complex. More than ever, HR professionals are looking for ways to respond to these varied needs.</p> <p>Employers have their work cut out for them when it comes to remaining cost-effective while providing today’s workforce with the most valuable health benefits.</p> <p>Based on the <a href="https://www.conferenceboard.ca/web/benchmarking/index.html" title="" class="" target="">2019 Benefits Benchmarking</a> report, here are the <strong>top four employee trends disrupting traditional benefits plans:</strong></p> <h2>Cannabis in the Workplace</h2> <p>Medical cannabis has been legal in Canada since 2001, and the number of authorized users has grown dramatically. By mid-2018, 342,000 Canadians were registered to use legally.</p> <p>Due to the recent legalization of recreational cannabis, medical cannabis is expected to be more common. Employees are increasingly turning to their employers with questions about coverage. Yet, only a handful of the Canadian organizations we surveyed offer coverage for medical cannabis.</p> <p>Employers should consider creating strategies that are mindful of this new frontier.</p> <h2>Aging Workforce </h2> <p>The needs of Canadian employees have become increasingly complex as Canada’s largest generation continues to work past the typical retirement age. This has put pressure on the health care system. Employers find themselves challenged to address the needs of this generation head-on.</p> <p>Organizations are aware of this trend, and they are looking for technology to better manage health care needs.</p> <h2>Increase Use of Biologic Drugs </h2> <p>There has been an increase in the use of biologic drugs and a greater focus on paramedical services. This has made it difficult for organizations to decide where to invest resources.</p> <p>Given this growing trend, having a drug cost management strategy is becoming increasingly important for the long-term sustainability of benefits plans.</p> <h2>Virtual Health Care and Wellness </h2> <p>Organizations are seeking more cost-effective, creative, and proactive ways to maintain and improve employee health. Canadian organizations are increasingly turning to new technologies that focus on prevention, such as virtual wellness technologies to manage health and fitness and pharmacogenetic testing.</p> <p>Different industries align their benefits strategies with virtual wellness technologies in varying ways. Their focuses may include physical wellness, improving financial wellness, reducing stress, absenteeism, or productivity.</p> <p><strong>Get ahead of these disruptors by leveraging data from 217 Canadian organizations in the 2019 Benefits Benchmarking report.</strong> <a href="https://www.conferenceboard.ca/web/benchmarking/index.html" title="" class="" target="">Read on</a>.</p>

Five Trends That Will Change the Way Your Company Structures Benefits

by
  • The Conference Board of Canada
| Mar 20, 2019
<p>Employee expectations are changing, and nowhere is this more evident than in benefit offerings. </p> <p> 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. </p> <p> How can you stay ahead of the curve? We surveyed 217 organizations for our new <a href="https://www.conferenceboard.ca/web/benchmarking/index.html">Benefits Benchmarking&nbsp;2019</a> report, collecting data that reflect the experiences of 1.2&nbsp;million employees. </p> <p><strong>Here are five trends in employee benefits that will give your organization an edge:</strong></p> <h2>More Flexible Benefits</h2> <p>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 <strong>two-thirds of Canadian employers are now offering more innovative health care spending accounts (HCSAs) to employees at all levels</strong>.</p> <h2>Wellness Apps Supporting Employee Well-Being</h2> <p>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.</p> <h2>Medical Marijuana Offered as an Employee Benefit</h2> <p>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&nbsp;per cent of organizations currently cover medical cannabis, <strong>close to half (48&nbsp;per cent) of respondents report they are considering doing so in the future</strong>.</p> <h2>Outsourcing Benefits Administration</h2> <p>With the emergence of new HR technologies, outsourcing your benefits administration can significantly impact your bottom line while meeting employees’ wellness needs.</p> <h2>Offering Mental Health Support to Employees</h2> <p>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. </p> <p><strong>How does your organization stack up? Optimize your employee benefits with data from 217&nbsp;organizations. </strong><a href="https://www.conferenceboard.ca/web/benchmarking/index.html"><strong>Get the Benefits Benchmarking 2019 report.</strong></a></p> <p><a href="https://www.conferenceboard.ca/web/benchmarking/index.html"><img src="/images/default-source/cboc-images-public/22685_benefits_552x147_final.jpg?sfvrsn=b9274e13_0" data-displaymode="Original" alt="Benefits_552x147" title="Benefits_552x147"></a></p>

Upcoming Events

Workplace Mental Health 2016 Jun 13–14 | Toronto

Webinars

Labour Relations Outlook Webinar: Where Are We Headed in 2020?
Jan 28 at 2:00 PM

What Works for ERM and What Does Not
Feb 04 at 3:30 PM

How to Manage Workplace Romances: Looking for Love in All the Wrong Places
Mar 11 at 2:00 PM