Many working Canadians struggle with well-being, despite having employer-provided benefits available
A survey by RBC Insurance reveals that rising economic pressures are impacting the well-being of working Canadians.
The survey shows declines in perceptions of mental health (57 percent), job satisfaction (55 percent), and financial health (44 percent), each down by five points since 2023.
Despite the availability of employer-provided benefits, many Canadians are unaware of the support these plans can offer during times of financial and personal stress.
Of those with employer-provided benefits, nearly a quarter (24 percent) report knowing little about their coverage, and only five percent see these benefits as their primary resource for well-being support.
Additionally, 26 percent of working Canadians either do not have or are unsure whether they have employer-provided benefits.
“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,” says Andrejka Massicotte, head of Group Benefits at RBC Insurance.
She adds that understanding and utilizing these benefits is crucial in today’s economic climate to support financial and overall well-being.
The survey highlights the disconnect between the availability of benefits and their usage, particularly regarding financial and overall well-being. Financial security is a top concern for 56 percent of Canadians, followed by sleep quality (50 percent) and physical fitness (39 percent).
Over half of Canadians (52 percent) report that they or their spouse face at least one mental or physical health condition, with 30 percent of these involving mental health-related disabilities.
Despite recognizing the need to improve their health and well-being, many working Canadians face barriers such as affordability (54 percent), lack of motivation (35 percent), busy schedules (33 percent), mental health challenges (25 percent), and long working hours (19 percent).
Women are particularly affected by affordability (59 percent), motivation (39 percent), and mental health (31 percent) issues.
Massicotte notes, “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.”
She encourages employers to improve communication around benefits, work with providers to offer personalized solutions, and make support more accessible to employees.
