Pay Raise or Retirement Plan?
Inflation and a tight job market makes it a good time to revisit employee compensation. So what's the best way to keep employees happy, while retaining talent?
of Canadians feel financially worse off than last year.
Bloomberg News, Oct 2022
6 in 10 working Canadians feel underpaid
Robert Half Canada, Sept 2022
Inflationary pressure is impacting everyone
Financially stressed employees lose nearly 30 minutes a day dealing with money matters at work.
National Payroll Institute, Nov 2022
Pay raises don't always help with retention
According to recent research, 1/3 of Canadian professionals are expecting to ask for a raise before the end of the year. While a pay raise may offer a quick fix to mitigate the effects of inflation, a modest salary increase doesn't always have a big impact on take-home page-- and does little to help with long-term retention.
Boost compensation and retain top talent with retirement benefits
New research from the Angus Reid Group says that retirement benefits are a cost-effective way to reduce the financial stress, while encourage staff to stay long-term.
66% say retirement benefits help retain talent
85% say retirement benefits are a cost effective way to reduce financial stress
78% see retirement benefits as an investment in human capital than a cost to business
Let's talk
Talk to one of our retirement specialists about a group RRSP/TFSA for your team.
