The 2023 Canadian Benefits Trends Survey examines the future direction of benefits strategy. With employers facing a range of challenges including difficulties in engaging, attracting, and retaining key talent, a mental health crisis and rising costs and inflation, steering the right course on benefit strategy is more challenging than ever.
Our survey findings show that employers are focused on benefits that meet employees’ needs around their physical and mental health, as well as long-term financial security and social responsibility. There is greater emphasis on adopting inclusive benefits designs and programs that enhance employees’ careers and provide flexible work arrangements. Looking to improve their benefits programs, employers identify the greatest opportunities around mental health support, employee experience, analytics and reporting.
Competition for talent is the top factor influencing benefits strategy
Employers anticipate cost to be a top challenge
Focus for benefits strategy going forward
As they look to meet employee needs, employers plan to prioritize
Canadian employers are also looking to improve their market positions on
Source: WTW 2023 Benefits Trends Survey