Employers provide benefits to employees as an addition to their regular pay and earnings. Employee benefits come in various forms and are an integral part of the overall pay package of the employees. Most employers offer health insurance for their employees. In fact most employment offers include a claim “we make it easy to get insured“. But do you know what other benefits you are eligible for?
Which Benefits Are Available, And Which Ones Are Your Eligible For?
Once you secure a job in Canada, you may be surprised to learn that many companies offer additional benefits to employees. At the same time, some employers will only provide the minimum benefit such as vacation days and worker’s compensation, and others will offer additional benefits such as travel benefits, health benefits, matching retirement savings, mobile phone plans, etc.
Top Employee Benefits In Canada
Here are some top employee benefits one can enjoy in Canada.
Insurance And Healthcare Coverage
Both citizens and landed immigrants have access to substantial health care coverage, unemployment coverage, and retirement pensions. All of these are generally covered by public money and payroll taxes. while basic healthcare is covered by provincial insurance, the program however does not include coverage for prescription medications
Employment Insurance (EI) covers employees who lose their jobs due to no fault of their own. It provides income replacement benefits. EI is not generally available to employees who have been terminated for a certain cause. A claimant’s weekly benefit amount equals 55% of their average weekly wages from the previous calendar year. The maximum weekly benefit amount is $573.00.
Annual Leave And Holidays
Based on their job, employees are entitled to up to 10 paid statutory vacations per year. All provinces offer at least two weeks of vacation per year to employees. This benefit can increase depending on how long the employee has been working with the company. Employees who must work on holidays have the right to premium pay, which is usually time and one-half plus holiday pay.
Paternity And Maternity Leaves
The employment standards laws in each province address parental and maternity leave. Employment Insurance is available to pregnant employees, new mothers, adoptive parents, and those caring for babies. Employers often offer “top-up” benefits during their leaves, recognizing that EI benefits offer only a small portion of an employee’s normal earnings.
Leave For People With Disabilities And Sickness.
Many authorities also offer a variety of leave options depending on the individual’s health or disability. Employers generally do not have to pay employees for such leaves. However, specialized employee insurance coverage is there for workers who cannot work due to illness or because of the need to take care of an immediate family member. Employers are generally not required to compensate employees for time off due to such reasons.
Benefits For Employees That Aren’t Included In The Base Salary
Although the above benefits are legally required, employers may offer additional benefits to employees. They can attract the best people and retain their team members for a longer time. You can know more here about how additional employee perks can help your business grow.
Some employers may offer these benefits:
- Reduced rates on gym memberships
- Long-lasting health benefits
- Transportation benefits
- An office vehicle
- Flexible working hours
- Free childcare
- Mobile service plan and a mobile phone
- Financial incentives and bonuses
- Annual parties