{"id":15919,"date":"2022-07-05T08:00:37","date_gmt":"2022-07-05T08:00:37","guid":{"rendered":"https:\/\/www.rbcinsurance.com\/en-ca\/?p=15919&#038;preview=true&#038;preview_id=15919"},"modified":"2025-09-09T15:27:00","modified_gmt":"2025-09-09T19:27:00","slug":"three-quarters-of-young-canadians-more-likely-to-leave-their-current-job-for-one-with-better-benefits","status":"publish","type":"post","link":"https:\/\/www.rbcinsurance.com\/en-ca\/advice-learning\/newsroom\/three-quarters-of-young-canadians-more-likely-to-leave-their-current-job-for-one-with-better-benefits","title":{"rendered":"Three-quarters of young Canadians more likely to leave their current job for one with better benefits"},"content":{"rendered":"\n<div class=\"wp-block-rbc-template-selector templateSelector template__article articleSingle\" data-template=\"article\">\n<div class=\"wp-block-group articleSingle__container tabListStickyWrapper is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__hero__inner is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"rbc-yoast-breadcrum-span\"><span><a href=\"https:\/\/www.rbcinsurance.com\/en-ca\/\">Home<\/a><\/span><\/span>\n\n\n\n<div class=\"wp-block-group articleSingle__featuredImage__group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__title__group is-layout-flow wp-block-group-is-layout-flow\"><h1 class=\"wp-block-post-title\">Three-quarters of young Canadians more likely to leave their current job for one with better benefits<\/h1>\n\n\n<div class=\"wp-block-group articleSingle__date__group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-post-date\"><time datetime=\"2022-07-05T08:00:37-04:00\">July 5, 2022<\/time><\/div>\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__readTime\">4 Min Read<\/span>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__author__group is-layout-flow wp-block-group-is-layout-flow\">\n<img decoding=\"async\" src=\"https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2021\/06\/Avatar.webp?quality=80&w=128\" alt=\"RBC Insurance\">\n\n\n\n<div class=\"wp-block-group articleSingle__author__details is-layout-flow wp-block-group-is-layout-flow\">\n<span class=\"wp-block-rbc-html-element articleSingle__author__name\">RBC Insurance<\/span>\n\n\n\n<span class=\"wp-block-rbc-html-element articleSingle__author__designation\"><\/span>\n<\/div>\n<\/div>\n<\/div>\n\n\n<figure class=\"articleSingle__featuredImage wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2024\/09\/two-coworkers-joyfully-discussing-business-1025x684-1.webp?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Two coworkers happily discussing business\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2024\/09\/two-coworkers-joyfully-discussing-business-1025x684-1.webp 1025w, https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2024\/09\/two-coworkers-joyfully-discussing-business-1025x684-1.webp?resize=300,200 300w, https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2024\/09\/two-coworkers-joyfully-discussing-business-1025x684-1.webp?resize=768,512 768w, https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/uploads\/sites\/2\/2024\/09\/two-coworkers-joyfully-discussing-business-1025x684-1.webp?resize=420,280 420w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__container__main is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group articleSingle__container__page__nav is-layout-flow wp-block-group-is-layout-flow\">\t\t<div class=\"socials-block\">\n\t\t\t\t\t\t<p class=\"socials-block-title\">\n\t\t\tShare this article\t\t<\/p>\n\t\t<div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n\t\t\t\t\t<a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=Three-quarters of young Canadians more likely to leave their current job for one with better benefits &#038;body=Hi, I thought you might be interested in this article from RBC Insurance: https:\/\/www.rbcinsurance.com\/en-ca\/advice-learning\/newsroom\/three-quarters-of-young-canadians-more-likely-to-leave-their-current-job-for-one-with-better-benefits\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n\t\t\t\talt=\"envelope icon\">\n\t\t\t\t<span>\n\t\t\t\tEmail\t\t\t\t<\/span>\n\t\t\t<\/a>\n\t\t<div class=\"social-button-wrapper sharing-copy-wrapper\">\n\t\t\t<button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcinsurance.com\/en-ca\/advice-learning\/newsroom\/three-quarters-of-young-canadians-more-likely-to-leave-their-current-job-for-one-with-better-benefits\">\n\t\t\t<img\n\t\t\t\tsrc=\"https:\/\/www.rbcinsurance.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n\t\t\t\talt=\"copy icon\">\n\t\t\t<span id=\"sharing-copyUrl-Label\">\n\t\t\t\tCopy URL\t\t\t<\/span>\n\t\t\t<\/button>\n\t\t\t<input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n\t\t<\/div>\n\t<\/div>\n  \t\t<\/div>\t\n\t\t\n\n<\/div>\n\n\n\n<div class=\"wp-block-group articleSingle__content__main tabListHeadings is-layout-flow wp-block-group-is-layout-flow\">\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner \" style=\"border-radius:0x\">\n<p><strong>TORONTO,&nbsp;July 5, 2022 &#8211; <\/strong>In the midst of a tight labour market, Canadians are placing increasing importance on employer-provided benefits plans. According to a recent RBC Insurance survey, nearly three-quarters of young Canadians aged 18-34 (73 per cent) and 35-44 (69 per cent), are significantly more likely to leave their current employer for another that is offering what they would consider to be better benefits.<\/p>\n\n\n\n<p>In determining what makes one benefits plan better than another, the top three desired features as reported by survey respondents were support for mental health (88 per cent), a health spending account (80 per cent) and options to add additional coverage (79 per cent) to better meet personal or financial objectives.&nbsp;These results are aligned with how workers are feeling, with 61 per cent reporting their overall well-being as good or excellent, down three points since 2021, and only 58 per cent reporting their mental health as good or excellent, down five points since 2021.<\/p>\n\n\n\n<p>&#8220;Given our collective experience since March of 2020, it&#8217;s not surprising to see a range of worries and stressors reported by working Canadians&#8221; says&nbsp;Julie Gaudry, Head of Group Benefits, RBC Insurance. &#8220;The knock-on impacts of a tightening labour market have made flexible and tailored employer-provided benefits desired by many \u2013 and clearly a draw, particularly for younger generations.&#8221;<\/p>\n\n\n\n<p><strong>Market trends also signal the need for better employer benefits<\/strong><\/p>\n\n\n\n<p>Some other labour market trends are highlighting the need for competitive employer-provided benefits.&nbsp;<a href=\"https:\/\/thoughtleadership.rbc.com\/growth-opportunities-narrow-amid-searing-inflation-and-a-scarcity-of-workers\/\" data-dig-id=\"LP-Newsroom-15919-d924b83d\" data-dig-category=\"LP-Newsroom\" data-dig-action=\"link click\" data-dig-label=\"According to RBC Economics\" class=\"rbc-link-format\">According to RBC Economics<\/a>, there are roughly 70 per cent more job postings and 6 per cent fewer available workers compared to pre-pandemic levels in&nbsp;Canada, creating a &#8216;buyer&#8217;s market&#8217; for those seeking a job change. Further, The Bank of&nbsp;Canada&#8217;s&nbsp;<a href=\"https:\/\/www.bankofcanada.ca\/2022\/04\/canadian-survey-of-consumer-expectations-first-quarter-of-2022\/\" data-dig-id=\"LP-Newsroom-15919-a2f05326\" data-dig-category=\"LP-Newsroom\" data-dig-action=\"link click\" data-dig-label=\"Survey of Consumer Expectations\" class=\"rbc-link-format\">Survey of Consumer Expectations<\/a>&nbsp;revealed the likelihood of a worker voluntarily leaving a job is increasing, as younger Canadians reported lower levels of overall well-being, mental and physical health year-over-year since 2019.<\/p>\n\n\n\n<p>&#8220;With heightened competition for talent, it&#8217;s critical that organizations develop or refine benefits plans as a key component of their offer,&#8221; says Gaudry. &#8220;We need to pay particular attention to this younger cohort, which already makes up a significant proportion of the workforce, and continues to grow. Employers must ensure the right support is available to this younger generation.&#8221;<\/p>\n\n\n\n<p><strong>Benefits plans make a difference<\/strong><\/p>\n\n\n\n<p>Canadians with employer-provided benefits are significantly more likely to rate their job satisfaction (64 per cent, six points higher), overall level of well-being (64 per cent, 10 points higher), physical health (62 per cent, eight points higher), mental health (60 per cent, seven points higher), and financial health (55 per cent, 17 points higher) higher than those without benefits.<\/p>\n\n\n\n<p><strong>Top three takeaways for employers<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list list-core-block second-level-inherit third-level-inherit is-style-blue-disc\">\n<li>Prioritize employee mental health and well-being. RBC Insurance Group Benefit Solutions offers a Workplace Wellness Toolkit which provides plan administrators with a framework for assessing the well-being needs of their employees and creating a wellness strategy that is tailored to the unique goals of their organization at no additional cost.<\/li>\n\n\n\n<li>Increase awareness of existing benefits plan features. Remind employees about the coverage they may already have available and how to access it. This is also a great opportunity to gather feedback about employee satisfaction of their benefits plan.<\/li>\n\n\n\n<li>Ensure your benefits plan meets the needs of your workforce. One way to do this is to offer flexible coverage and a health or wellness spending account which allows employees to customize their plans to meet their individual needs. This will help with retention and recruitment efforts; especially for younger Canadians.<\/li>\n<\/ol>\n\n\n\n<p><strong>About the RBC Insurance Study<\/strong><\/p>\n\n\n\n<p>These are some of the findings of an Ipsos poll conducted between&nbsp;April 22 and 25, 2022, on behalf of RBC Insurance. For this survey, a sample of 1,001 working Canadians was surveyed online. Weighting was employed to balance demographics to ensure that the composition of the sample reflects the population according to Census data and to provide results intended to approximate the sample universe.&nbsp;The results are considered accurate to within \u00b13.5 percentage points, 19 times out of 20, of what the results would have been had all Canadian working adults been surveyed.<\/p>\n\n\n\n<p><strong>About RBC Insurance<\/strong><\/p>\n\n\n\n<p>RBC Insurance<sup>\u00ae<\/sup>&nbsp;offers a wide range of life, health, home, auto, travel, wealth, annuities and reinsurance advice and solutions, as well as creditor and business insurance services to individual, business and group clients. RBC Insurance is the brand name for the insurance operating entities of Royal Bank of&nbsp;Canada,&nbsp;Canada&#8217;s&nbsp;biggest bank and one of the largest in the world, based on market capitalization. RBC Insurance is among the largest Canadian bank-owned insurance organizations, with approximately 2,600 employees who serve close to five million clients globally. For more information, please visit&nbsp;<a href=\"https:\/\/www.rbcinsurance.com\/en-ca\/personal\/\" data-dig-id=\"LP-Newsroom-15919-42ac55d0\" data-dig-category=\"LP-Newsroom\" data-dig-action=\"link click\" data-dig-label=\"rbcinsurance.com\" class=\"rbc-link-format\">rbcinsurance.com<\/a>.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"h-media-contact\">Media contact<\/h5>\n\n\n\n<p><a href=\"mailto:cody.medwechuk@rbc.com\">Cody Medwechuk<\/a>, RBC Insurance Corporate Communications<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the midst of a tight labour market, Canadians are placing increasing importance on employer-provided benefits plans. <\/p>\n","protected":false},"author":168,"featured_media":21113,"comment_status":"open","ping_status":"open","sticky":false,"template":"templates\/new-rbci-design.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[100],"tags":[21,25,6],"article-type":[80],"ppma_author":[171],"class_list":["post-15919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsroom","tag-managing-money","tag-wealth-management","tag-work-life","article-type-advice-learning"],"pp_force_visibility":null,"pp_subpost_visibility":null,"pp_inherited_force_visibility":null,"pp_inherited_subpost_visibility":null,"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Three-quarters of young Canadians more likely to leave their current job for one with better benefits | RBC Insurance<\/title>\n<meta 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