Increasing employee compensation on a budget

Engaged employees learning about their benefits plan
Common Wealth user-friendly UI

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?

47% of Canadian workers

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.

50% infographic

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

71% would forgo a salary for retirement benefits

Let's talk

Talk to one of our retirement specialists about a group RRSP/TFSA for your team.

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