Mario Toneguzzi’s guest on Business Insider: Manjit Minhas, well-known Canadian entrepreneur on the Dragons’ Den and founder of Minhas Breweries, Distilleries and Wineries in Calgary, discusses a survey released by the Canadian Payroll Association on essential benefits for employees.
The Canadian Payroll Association released the findings from the Essential Benefits Survey, which revealed that while employers have frequently turned to ‘perks’ such as free lunches, casual dress, gym memberships to try to connect with the next generation, the foremost concern for Generation Z and Millennial employees is the same as previous generations: accurate and timely pay.
According to the survey, nearly four out of five respondents reported consistent and accurate pay to be an essential benefit of employment that they would not work without.
Other key findings include:
– Following payroll, other benefits deemed essential by survey participants included health and dental benefits (61 per cent), RRSP programs and pension plans (43 per cent), flexible working arrangements (38 per cent), training and development opportunities (35 per cent), additional vacation time (30 per cent) and work perks (12 per cent).
– 25 per cent of Millennial respondents feel that work perks have decreased in importance since the start of the pandemic.
– 87 per cent per cent of survey respondents saying if their pay were withdrawn, changed, disrupted or compromised, they would trust their employer less or feel less valued by them, whereas only 36 per cent would feel this way if other work perks were withdrawn.
– 74 per cent of Millennials reported that they would consider moving on from their employer if consistent and accurate pay were not prioritized.
Mario Toneguzzi, based in Calgary, has more than 40 years experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald covering sports, crime, politics, health, faith, city and breaking news, and business. He now works as a freelance writer and editor as well as a consultant in communications and media relations/training.
He is VP of Content & Strategy for MegaPixx Media, which owns and operates YYC Business, and owner of Mario Toneguzzi Communications Inc.
Mario is a regular contributor to various national and local publications including Retail Insider, RENX, Globe and Mail, The Star, National Post, Real Estate Magazine, Troy Media, YYC Business, Grocery Business Magazine and many others. He’s also a host for Calgary and Edmonton on Canada’s Podcast network. And he’s a regular contributor of content for companies and organizations to populate their websites.
Frequent commentator on television and radio on business news, issues and trends.
Named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list.
Part of the Herald’s National Newspaper Award winning newsroom for coverage of the June 2013 floods in Calgary.
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