What would you do for better retirement benefits?

What would you do for better retirement benefits?

A recent survey finds that more than half of Canadians are worried about retirement.

When asked, 77% of Canadians said they would consider leaving their job, with all else equal, for better retirement benefits.

As an employer, these statistics should be alarming. If you had seven out of ten of your employees wanting to leave your company, it's time to make a change.

Acknowledging the desire Canadians have for an attractive retirement package, employers can take the opportunity to reevaluate their current offerings. By making even the smallest changes to your retirement offerings, it could help to retain current talent and become more attractive to new prospects.

More specifically, mid-sized to smaller companies should take note of what's being done by their larger competitors. A defined pension plan is something often offered by larger companies and is something that mid-sized companies may want to consider to help make their business more appealing to employees.

Ultimately, if reevaluating you retirement benefits is in the cards for your company, it is important to ask for your employees input. You might be surprised what they may want, or what they may forgo, to help provide security in retirement.