Did you know?...
Canada currently ranks 4th in the world for employee turnover, above the United States by 3%. 1
Out of the 16% turnover, 36% say it is due to work environment and culture and 34% say it’s benefits. 2
On average it costs a company in Canada 150% of a mid-level employees salary to replace them and 400% of a high-level employee to replace. 3
The statistics show that 1 out of 5 high performers are actively looking for jobs and 37% of mid-level employees are actively looking. 3
Canadian companies lose an estimated $16.6 billion in productivity per year due to workers calling in sick (mostly due to stress).
49% of employees want more focus on health & wellness.
The average annual cost of providing benefits is $7,061 per full-time employee. Annual costs per employee are higher in the public sector at $7,498 than in the private sector at $6,922. For a typical employer, this translates into spending of just over 10 per cent of gross annual payroll. The 2nd highest paid out to employees out of this total cost is extended health care. 4
In a recent meta-analysis of the literature on costs and savings associated with wellness programs, researchers from Harvard University found that medical costs fall by about $3.27 for every dollar spent on wellness programs and that absenteeism costs fall by about $2.73 for every dollar spent. 5