To combat rising costs, try offering flexibility, get-togethers and discounts
Attracting and retaining the best talent is arguably “job one” for HR professionals. Continuing to meet that mandate has become a little more expensive each year since traditional benefit plans — highly valued by employees — continue to increase in cost at a rate above inflation. Add on a retirement savings plan, Canadian Pension Plan payments, employment insurance premiums and other statutory benefit costs and they represent a significant portion of payroll. The cost of health benefits alone has increased at three times the rate of salary increases in the last five years.
