Wednesday, April 16, 2008

Canada: Survey Suggests Health Care Benefits Are Leading Enticement for Older Workers

According to a recent poll of Canadians over the age of 55, health assurances are the best thing an employer can offer older workers to keep them in the workplace. Specifically, Ipsos Reid reports that in a poll it conducted on behalf of Royal Bank of Canada, 60% of those surveyed said that extended health care benefits are the most important factor (top three mentions) in deciding to stay in the workforce. Trailing health care were flexible work hours (47%), having a guaranteed salary (34%), and phasing in the retirement process (24%).

With respect to flexible hours, the general consensus of those surveyed was a workweek running from Tuesday to Thursday, working nine to noon each day. In addition, workers would want an average of 6.4 weeks of vacation per year.

The survey also found that over 54% say they plan on working with their current employer past the age of 65, and, of those, 26% plan on working full-time for as long as possible, while another 36% would like to work full-time for a few years, before scaling back to part-time work.

Source: Ipsos Press Release (April 15, 2008)

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