As you prepare for next year you are likely already thinking about whether or not to give out salary increases, and if so, how much. Here are two recent Canadian studies that showcase how other employers across Canada anticipate rewarding employees in the next year.

Two Studies Show Salaries Expected to Rise

A recent study by Willis Towers Watson, a Toronto based Insurance Company, surveyed over 300 Canadian employers on whether or not they project base salary increases for all or some employee groups in 2018.

The Willis Towers Watson survey results showed that:

• 94% of Canadian employers expect to increase salaries in 2018 (up from just 90% in 2017)
• Employers expect to award base increases of 2.8% – to both executive and non-executive employees

In another Canadian salary study by Mercer Canada, the study projects that Canadian salaries will increase by 2.4% in 2018 compared to the 2.3% increase in 2017.

Salary Increases Need To Be Strategic

The Mercer study found that top performers can expect to receive salary increases of up to 1.8 times that of average performers. Both top performers and those with in-demand skill sets will expect to be paid differently because competition is so fierce.

The Willis Towers Watson study found that most employers are rewarding what they call “star performers” with substantially larger salary increases while giving minimal – if any – increases to their weakest performers.

Employee Retention #1 Priority for Employers in 2018

The Mercer Canada study found that 69% of survey respondents are most concerned about employee retention when it comes to compensation decisions in 2018.

The second highest concern when administering salary increases is overall economic climate.

Alterative Compensations Instead of Salary Increases

Rather than just handing out pay raises only to top performers, or pay raises straight across the board, Allison Griffiths (principal at Mercer Canada), suggest employers look to alternate compensation packages.

For example, extra vacation days, education and skill development, or work-from-home options could be more lucrative than a straight across dollar raise. The report also showed that employee benefit plans can also fit in as an alternative to salary increases in 2018.

About Benefit Strategies Inc.

As employee benefit brokers based out of Edmonton, Alberta, Benefit Strategies Inc. is dedicated to helping Canadian businesses compensate and reward their employees. We service small businesses and corporations throughout Alberta, the Western Provinces and the Northwest Territories.

For more information about how to leverage employee benefits to retain and compensate your employees in 2018 please contact Benefit Strategies Inc. Call us at 1-780-437-5070 or contact our benefits brokers by email.

You might also our article titled How to Deal with Employee Benefits Cost Increase.

Benefit Strategies Inc. is proud to offer its customers access to League Health Insurance Benefits – an employee benefits plan that can be customized through the League digital health app!

League Health Insurance Company is an employee benefits provider that offers a digital alternative to traditional health benefits. With League, employees (and employers) can say goodbye to one-size-fits-all benefits plans and tight spending restrictions.

Employees Love League Benefits Canada

Here are four reasons why employees love this new League digital health app and four reasons you will love the health benefits plan too!

1. Digital First. League Insurance is a fully digital health benefits provider. Employees can check their account balances, transaction history, statements, receipts, and more, all within the League Digital Health App.
2. Diverse expanded benefits plans. League Benefits offers a Lifestyle Spending Account where your employees can choose a variety of services including gym memberships, personal training, health coaching, food and supplements, physiotherapy, and more.
3. Convenience. In addition to going digital, your employees will love the convenience of on-site health screenings and flu clinics. If incorporated, they will no longer have to visit their local clinic for a flu shot, massage, blood pressure testing, and other health screening options.
4. Membership reviews. Thanks to the League digital benefits marketplace, there are literally thousands of health services available from some of the best professionals in the business – all rated by League’s members. The League Insurance roster includes only qualified professionals who have been verified, rated, and reviewed.

Reasons You Will Love League Benefits

1. Financial Control. League offers a fixed contribution model that allows for cost control and certainty. There will be no more end of the year surprises and you only pay for what your employees actually use.
2. Flexibility. Build an employee benefits plan that is perfect for your business and team. Options include popular packaged benefits plans with flexible spending accounts or a-la-carte menu of products and services that meet your needs and fit within your budget.
3. Onsite Workplace Health Services. Bringing healthcare to your employees can improve the overall wellness of your workplace, which can lead to reduced stress, improved morale, fewer sick days, and many more benefits. League’s Workplace Health Services include verified health professionals providing on-site services such as health screenings and clinics, group fitness classes, stress management, and more. When health is incorporated into your company culture, everyone feels they are well looked after!
4. Tax Deductions. Your company can enjoy some great tax deductions by introducing an Employee Benefits Plan like League Insurance. Ask us how!

To learn more about League Benefits and the League digital health app, or how League can improve the overall health, wellness, and satisfaction of your employees, please contact Benefit Strategies Inc. today at 1-780-437-5070 or send us an email.

Canadian drug benefit plans continually need to evolve to meet the needs of employees.

In recent news, Shoppers Drug Mart and Loblaws Canada have now added medical marijuana into their employee benefits packages.

These drug benefits are capped at $1,500.00 but reflect the vision of employers who are willing to see past the political rhetoric and introduce new aspects to their employee benefits plan that are explicitly focussed on employee needs.

Focus of Medical Marijuana Use

Adaptation to drug therapy changes are pushing these companies into positions of forward-thinking benefits by:

1) Providing alternative relief for workers experiencing chemo-related queasiness and vomiting.

2) Helping employees deal with pain as a consequence of multiple sclerosis.

Earlier in 2017, the Nova Scotia Human Rights Commission ruled that an employee benefits plan “Must cover a member’s medical marijuana prescription.” A pre-approval process is required and the ruling calls for special authorization, with marijuana prescriptions to be filled by Licensed Producers, the current method used by the Canadian Government.

You can read the full article can be read here: Benefits plan must cover medical pot, human rights commission rules.

These drug benefits will be available to approximately 45,000 Shoppers Drug Mart and Loblaws employees. Depending on the volume consumed daily by the patient, it’s unlikely that these benefits will completely cover costs, but it will certainly help.

Still Have Questions About Drug Benefit Plans?

Benefit Strategies Inc. is based in Edmonton, Alberta and has been serving business clients throughout Western Canada, the Yukon and the Northwest territories for over three decades.

For more information on how medical marijuana is affecting employee benefits plans in Canada, contact Benefit Strategies online, send us an email, or call us today at 1-780-437-5070