As of November 2017, Alberta’s economy was on pace to grow by 6.7 percent, which is better than any province in Canada. Since Alberta has surged out of the recession with rising oil production, quality employees will be at a premium. So how can your business be competitive in Alberta’s job market? It is probably a question you have asked yourself while reading about the newest tech start up offering endless benefits to a predominately young workforce. You have likely heard about the nap rooms, fully stocked bars, basketball courts, endless vacations, etc. But realistically, what appeals the most to prospective employees and how can your business be competitive in Alberta's job market?
Nap rooms aside, the majority of employees will tell you they are looking for:
- A competitive wage
- Job security
- Some hope of retirement in this century
The third one can be the hardest to communicate. When attempting to communicate long-term value to a generation that is impatient with download speeds, let alone discussing their future retirement, many companies fall short in educating current and prospective employees.
The key lies in the versatility of your overall employee benefits package. With retirement being often overlooked in these plans, businesses are missing out on opportunities to provide their employees with the tools to save for retirement and equip them with the financial knowledge to do so.
A versatile group benefits plan will leverage existing technology to give your employees easy access to submit claims, read benefit information and much more. Not only that, the technology exists to properly communicate the benefits of your plan, which will only serve to strengthen your brand in Alberta’s job market. Also it will reinforce loyalties with your existing employees as well. For a group retirement package or benefit plan to work, it requires buy-in from all of its members.
Demonstrating a vested interest in your employees’ financial well being is easily achieved with some simple tools that are already available to you. It could be as easy as hosting a town-hall meeting to discuss topics relevant to your workforce. A topic could be: how the crush of baby-boomers retiring will in turn affect millennials for example. There is also a wide variety of written communications available to you through your benefits advisor, in addition to the new online tools we mentioned above.
If you are wondering how can your business be competitive in Alberta’s job market, we encourage you to contact the experts at DENT Benefits to create a customized communication plan to engage current and prospective employees!
The information in this material is derived from various sources. Material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources; however, no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please contact us for benefit, pension and insurance advice based on your corporate or personal circumstances.