New RBC survey exposes knowledge, coverage and engagement gaps with employer benefits

Breaking down the survey further

While a number of working Canadians may be unsure of what support is available to them through their employer benefits, over a quarter (26%) either do not have or are unsure if they have employer-provided benefits.

The current state of this inflationary economy, and the anxieties it has imparted on the Canadian populace, emphasizes the crucial role benefits can play in alleviating or dealing with external stressors.

Most alarmingly, 57% of Canadians admit to having a declining perception of their mental health, with only 55% being satisfied with their career and 44% expressing they have adequate financial health — each down five points since 2023.

Among the factors impacting their well-being, both physical and mental, working Canadians are struggling most with financial security (56%), followed closely by sleep quality (50%) and prioritizing physical fitness (39%).

Additionally, more than half (52%) of respondents report that they or their spouse are contending with at least one mental or physical health condition. Of these, 30% reported a mental health-related disability, indicating the need for accessible and effective mental health support within employer-provided benefits plans.

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Barriers to well-being

While achieving well-being may be the ultimate goal for many, there are certain existential roadblocks that are making that path more arduous.

Affordability is a top barrier to improving well-being for 54% of Canadian employees, followed by lack of motivation (35%), busy schedules (33%), mental health (25%) and long working hours (19%).

Additionally, many are either uncertain about where to start (17%) and/or lack access to resources (15%) that could help improve their well-being. Women are more likely to list affordability issues (59%), motivation (39%) and mental health (31%) as barriers, compared to men.

"This disconnect points to a critical opportunity for employers and insurers to better educate and engage employees, showing them the value-added services they may already have access to, that can assist with addressing various aspects of their well-being," said Massicotte.

"Employers should look to improve communication around benefits, work with their benefits provider to offer more personalized solutions, and make it easier for employees to access the support they need, when they need it."

Survey methodology

For this survey, a sample of 1,000 working Canadians ages 18 to 65 were surveyed between July 5 to 9, 2024. The precision of online polls is measured using a credibility interval. In this case, the results are accurate to within ± 3.8 percentage points, 19 times out of 20, of what the results would have been had the entire population of working adults aged 18 to 65 in Canada been surveyed.