A recent survey from RBC Insurance has highlighted that many employees in Canada remain unaware of or are not utilizing the financial safety nets available through their employer-provided benefits plans.
The survey found that nearly a quarter (24%) of those with employer-provided benefits admit to knowing little about their coverage. Even fewer – only 5% – see these benefits as their primary resource for support with wellbeing concerns.
Additionally, 26% of working Canadians either lack or are uncertain if they have access to employer-sponsored benefits.
Andrejka Massicotte, head of group benefits at RBC Insurance, noted: “These findings emphasize the need for employers to take a more proactive approach in educating their employees about the supports available to them through their employee benefits programs.
“In today’s challenging economic environment, it’s essential for Canadians to fully understand and access their existing employer-provided benefits, which can significantly support their financial and overall health and wellbeing needs.”
Meanwhile, financial insecurity emerged as the top wellbeing concern for 56% of those surveyed, followed by poor sleep quality (50%) and lack of physical fitness (39%). Over half of working Canadians (52%) also reported dealing with at least one mental or physical health condition, either directly or via their spouse.
While most Canadians recognize the need to improve their wellbeing, various barriers are preventing them from taking action. More than half (54%) identify affordability as a significant challenge, followed by a lack of motivation (35%), busy schedules (33%), and mental health struggles (25%). Another 19% cite long working hours as a limiting factor.
The poll also revealed that some Canadians feel uncertain about how to begin improving their health (17%) or lack access to the necessary resources (15%).
“This disconnect points to a critical opportunity for employers and insurers to better educate and engage employees, showing them the value-added services they may already have access to, that can assist with addressing various aspects of their wellbeing,” Massicotte added.
She suggested that employers enhance communication around benefits, collaborate with providers to offer more tailored solutions, and make it easier for employees to access support when they need it.
The survey was conducted by Ipsos on behalf of RBC Insurance, polling 1,000 working Canadians between the ages of 18 and 65.
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