By Lauren Bailey
Source: Benefits Canada
A majority of Canadian employers believe providing workplace retirement savings plans can improve employee attraction and retention, according to a survey by Maru Group Ltd. on behalf of the Healthcare of Ontario Pension Plan.
The survey, which polled 800 Canadian employers, found 88 per cent of those that offer a defined benefit pension plan said it was “extremely important” or “very important” to their employee retention efforts, followed by 85 per cent of employers with a defined contribution plan and 83 per cent that provide a group registered retirement savings plan.
In terms of recruitment efforts, 87 per cent of respondents that offer a DC plan said it was “extremely important” or “very important,” followed by 83 per cent of those that provide a DB plan and 77 per cent of those with a group RRSP.