Cheap – but highly valued – benefits

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.

To read the full story, login below.

Not a subscriber?

Start your subscription today!