Compensation and Benefits Services in Canada
If you’re looking for a compensation and benefits service in Canada, you’ve come to the right place. Read on to learn more about flexible compensation and benefits, paid maternity leave, and more. These services will help you find the best plan for you and your employees. And remember, a good compensation and benefits service will keep your company costs down.
As a Canadian resident, you may be interest in learning more about the Canadian mandatory employee benefits system. The government has mandate that employers provide certain services to their employees, and the following benefits are include: employment insurance, pension, and legislate parental leaves. You may also want to consider supplementary employee benefits, including healthcare, retirement, and workplace canteens. Some employers also choose to offer other benefits, such as mental health training or virtual care.
In Canada, employees are legally entitle to certain benefits packages, which include dental and health insurance, and other benefits that may be offere by a company. Employers are require to meet certain employment standards act discrimination rules when offering employee benefits. This law prohibits discrimination on protected grounds. Some employers choose not to offer these benefits, and those that do may find it difficult to compete. However, in many cases, employees will find it difficult to compete with larger companies if they do not offer these benefits.
Flexible benefit plans
A flexible benefit plan is a benefit that allows participants to make choices about how much they want to spend on health care and other services. These plans have many advantages for both employers and employees, and a recent Associates found that 41 percent of firms in Canada already offer a flex plan. The percentage is up significantly from five years ago, so employers should consider the flexibility a flex plan offers.
Under a flexible plan, participants select from a predefined list of covered benefits up to a certain credit limit. Additional coverage may be purchase by employees at their own expense if they have a need for it. If the plan does not cover the service, the employee simply goes without it. Core-plus plans, on the other hand, set minimum levels of coverage and require employees to purchase above those limits. These plans generally do not cover dental or vision care.
Paid maternity leave
Employer-sponsored top-ups of maternity leave benefits are common in Canada. This supplement to the government benefits is finance by employers and averages $300 per week for 19 weeks. Many employers cover at least some of the cost of this program, which is a substantial benefit. However, there is still a need to better understand the full costs of paid maternity leave in Canada.
We leave in Canada is much better than in the United States, where maternity leave benefits can range from eight weeks to up to four months. Some employers even offer extended leave when new parents adopt a child. But in Canada, paid leave varies from employer-to-employer, depending on the individual company policies. While some new moms may receive six months of paid leave at 100% of their salary, others could have nothing more than the federal minimum. It all depends on the employer, and the type of position you hold.