Morneau Shepell released the results of its 32nd annual Compensation and Trends in Human Resources survey.
Among the results was data showing employers’ top priority is to improve workplace health and wellness
For employees, the data showed they are expecting salary increases of 2.8 per cent in 2015. This is up from the average 2.6 per cent increased expected last year. Taking into account the mix of industries across Canada, the survey showed salary increases would vary by almost 1 per cent province to province.
Employers, faced with tight salary budgets, will invest in programs aimed at improving engagement and productivity. Half of the survey respondents indicated top priorities for 2015 include improving programs for communication of total rewards, training and development, and workplace health and well-being.
The survey also shows employers are making greater use of existing programs that support mental health, as it has become the leading cause of sick leave and disability. For many companies, it is a growing concern.
Mental health training for managers will more than double in the next year to year and a half as companies see them as being best situated to identify employees with mental health challenges and ensure they get help.
20 per cent of employers plan to formalize their commitment to mental health by adopting the new Standard on Psychological Health & Safety in the Workplace in the next 12-18 months.
The survey also showed interesting developments around retirement plans, and the cost and risk associated with them. While strong investment results have returned many defined benefit plans to a fully funded status, employers with these plans are still looking for ways to lessen the risk.
One-third of DB plan sponsors are considering changes to plan design or cost sharing that will have an impact on employees. 22 per cent are looking at converting to defined contribution plans, which has been the majority trend over the last few years.