TORONTO, April 3, 2017 /CNW/ - It's not difficult to understand the economics of why it makes sense for organizations to focus on retaining experienced staff. Often, the costs of recruiting and training an employee can run several times the same employee's annual salary, to say nothing of lost revenues and productivity while the position is unfilled. What's more difficult to understand is why more organizations don't put employee retention at the heart of their human resources programs. For insight on what Canada's leaders in this field are doing, look no further than this year's Top Employers for Canadians Over 40, announced today by Mediacorp Canada Inc., organizers of the annual Canada's Top 100 Employers project.
"Employees who have experience are tremendously valuable assets to an organization," says Richard Yerema, Managing Editor of the Canada's Top 100 Employers project, which manages the competition. "They play a crucial role in passing institutional knowledge and wisdom to the next generation. This year's winners make employee retention central to their HR strategy, which keeps the organization strong for the future while providing employees with job security and stability."
Now in its 16th year, the Top Employers for Canadians Over 40 is one of the longest-running competitions within the Canada's Top 100 Employers project. This special designation recognizes employers that lead the nation in creating special programs and benefits of interest to employees aged 40 years and older. The competition reviews a wide range of practices at employers including: active recruitment programs for employees over 40; a broad range of health, financial and family-friendly benefits including long-term savings, health benefits for retirees and support programs such as succession planning and phased-in work options; and opportunities for retirees to stay socially connected.
Some programs noted by the editors at this year's winning employers include:
- TD Bank helps employees plan securely for the future with a defined benefit pension plan, retirement planning assistance and a flexible retiree benefits plan.
- Air Canada helps retirees stay connected to the company through the "Pionairs" association, which maintains a pension and benefits committee that also advocates for pension protection and reform.
- Great-West Life provides employees with retirement planning assistance, phased-in work options and health coverage that extends into their retirement years, with no age limit.
- Government of Yukon provides employees reaching long-service milestones with an extra week of paid vacation.
More programs at this year's winners can be found on the competition homepage.
Founded in 1992, Mediacorp Canada Inc. is the nation's largest publisher of employment periodicals. Since 1999, the company has managed the Canada's Top 100 Employers project, which includes 19 regional and special-interest editorial competitions that reach over 15 million Canadians annually through a variety of magazine and newspaper partners. Mediacorp also operates Eluta.ca, the largest Canadian job search engine, which includes editorial reviews from the Canada's Top 100 Employers project and is used by 7 million Canadians annually. Together with Willis Towers Watson, Mediacorp also hosts the Top Employer Summit, Canada's largest conference for senior-level HR professionals.
The full list of this year's Top Employers for Canadians Over 40 is attached. Detailed reasons for selection with hundreds of additional stories and photos were released this morning at: http://www.canadastop100.com/over40
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Top Employers for Canadians Over 40
Air Canada (Saint-Laurent QC)
BDC / Business Development Bank of Canada (Montréal QC)
Canadian Heritage (Gatineau QC)
CIBC (Toronto ON)
Enbridge Inc. (Calgary AB)
Great-West Life Assurance Company, The (Winnipeg MB)
National Energy Board (Calgary AB)
TD Bank Group (Toronto ON)
University of Toronto (Toronto ON)
Yukon, Government of (Whitehorse YT)
SOURCE Mediacorp Canada Inc.
For further information: Kristina Leung, Senior Editor, at 416-964-6069 x1464