Perks may be more attractive to younger employees who are looking for greater flexibility and work-life balance

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Mario ToneguzziCanadian employers are offering a variety of perks to their employees to supplement typical compensation and benefits packages, and to set themselves apart from competitors, says a new report released on Wednesday by the Conference Board of Canada.

Perquisite offerings include allowances, as well membership reimbursement, mobile phones, employee parking and education grants are some of the way companies are attracting and retaining employees, says the Perks at Work report.

“Offering a variety of perks adds both monetary and psychological value that may give an employer an advantage over their peers. Perks can be highly valuable to prospective employees and can play an important role in an organization’s attraction and recruitment efforts,” said Monica Haberl, a research associate at the Conference Board of Canada. “In particular, perks may be more attractive to younger employees who are looking for greater flexibility and work-life balance.”

The report says perquisite allowances tend to be the highest-value perks, with an average annual value of more than $13,300 per eligible employee. Car allowances are another high-value perk, averaging more than $8,250 per employee annually.

Of the Canadian organizations surveyed, 90 per cent offered professional membership reimbursement and 86 per cent offered mobile phones. A majority of responding organizations also offered employee parking (76 per cent), employee education grants (60 per cent) and car allowances (56 per cent), adds the report.

Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.

perksThe views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.

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