More often than not, employees advocate for Group RRSPs in their workplace. What sometimes gets ignored is that employers can benefit as well. By offering Group RRSPs, employers can significantly lower the financial stress on employees. Thus, having a positive impact on their happiness, confidence, and overall work performance.
Improve Employee Attraction & Retention
Attract top talent and retain star employees by offering financial wellness. According to a survey conducted on behalf of the Healthcare of Ontario Pension Plan, most Canadian employers believe providing workplace retirement savings plans can improve employee attraction and retention. The survey polled Canadian employers and found 88% of those that offer a defined plan said it was “extremely important” or “very important” to their employee retention efforts.*
To learn more about improving employee attraction & retention, check out our recent post, Recruit & Retain Top Performers with Group RRSPs.
Increase Productivity
In the same survey, almost half of employers offering retirement benefits said employee productivity has been better than normal over the past year, compared to 29% of employers that don’t offer retirement benefits. 73% of employers said employees feeling financial stress are less productive. **
Group Retirement Savings Plans help eliminate financial stress allowing employees to focus more time on day-to-day responsibilities and less time stressed about their financial future.
Investing in Your Employees Increases Business Results
We conducted a study to understand how financial worry and retirement planning affect business performance, company culture, and overall employee happiness. Download our free ebook to explore how investing in employees helps increase business results.
Group Retirement Savings Plans Made Easy & Affordable
If you are a business owner that’s always wanted to be in a position to offer your employees an easy-to-manage digital solution to financial well-being, Nest Wealth at Work can help. Create a better future for your employees at zero cost to your business. The Nest Wealth at Work platform is 100% free for employers, and matching employee contributions is at your discretion. There is no initiation, administration, setup, or monthly fees. The whole setup process is simple, fast, and completely digital. Plus, Nest Wealth at Work only charges a fee of 0.95% to the employee. That is a fraction of the cost charged by conventional investment offerings in the market.
If you’re ready to open a Group RRSP today, click here. Your employees will thank you.
Sources:
- Employers See Retirement Benefits as Top Attraction Retention Tool: Survey https://www.benefitscanada.com/pensions/retirement/employers-see-retirement-benefits-as-top-attraction-retention-tool-survey/
- Employers Offering Retirement Benefits Seeing Stronger Staff Productivity: Survey https://www.benefitscanada.com/pensions/retirement/employers-offering-retirement-benefits-seeing-stronger-staff-productivity-survey/