COMPENSATION, BENEFITS AND INCENTIVES While base salary is always a key factor in the decision to accept a job, more often than not, it’s the benefits that make the job desirable. In addition to standard benefits like life insurance, retirement plans, and long-term care and disability plans, the majority of Top Insurance Workplaces also offer 15 or more paid vacation days per year (some even go so far as providing unlimited time off), wellness programs and several other less tangible but just as impactful benefits. Supplementing those perks are monetary incentives. Many Top Insurance Workplaces have developed creative bonus programs to keep employees motivated and recruit top talent. From performance-based bonuses and service recognition gifts to short- and long-term pensionable bonuses, employees at Top Insurance Workplaces are often rewarded for their loyalty, service and hard work. Profit sharing, new-business bonuses, President’s Challenge bonuses and all-inclusive international trips for employees are a few of the other ways Top Insurance Workplaces reward their team members. Combined with a competitive salary, these incentives are among the top reasons employees love where they work.
When do employees become eligible for benefits? 35%
Does your organization offer an employee equity program?
Yes
IMMEDIATELY
No
Fewer than 99 employees 30 DAYS AFTER HIRE
60 DAYS AFTER HIRE
100 to 499 employees 57%
42%
500+ employees 4%
Yes (unpaid)
Fewer than 99 employees 0%
61%
39%
Fewer than 99 employees
78%
22%
100 to 499 employees 0%
100 to 499 employees
71%
29%
500+ employees
100%
14%
86%
500+ employees
0%
0%
100%
0%
WHAT EMPLOYEES HAD TO SAY
“The company has a competitive benefits package and recently added counsellors in addition to psychologists under its program, which was a huge bonus for a number of our staff.” “Having benchmarked against other firms, our healthcare benefits meet or exceed the industry. We also have third-party organizations come into our offices to conduct confidential health assessments as part of our wellness program.”
43%
90 DAYS AFTER HIRE
Does your organization offer an employee retirement plan?
Yes (paid) No
33%
15%
67%
4%
Does your organization offer sabbaticals?
100%
OTHER
0%
“The unlimited time off policy allows for work flexibility and independence.”
www.insurancebusiness.ca
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