Workplace pension plans a recruitment standout

October 4, 2022

In a tight labour market, employees have options. And while recruitment and retention strategies tend to focus on propositions that impart present day payoffs, workplace pensions are fast becoming a key employment draw.

“Workplace pension plans, especially defined benefit (DB) plans, produce undeniable value in recruiting and retaining talent, reducing stress, and increasing employee productivity in the workplace,” says Derek Dobson, CEO and plan manager at the CAAT Pension Plan.

A majority (84 per cent) of employers offering DB plans say the pensions play an important role in their recruitment efforts, and that 71 per cent of Canadians say they are willing to forgo a higher salary in favour of a better pension plan, according to data released by Healthcare of Ontario Pension Plan (HOOPP).

Source: HR Reporter