JOBS Younger Workers See Themselves In How Their Employer Treats Older Staff: This Year's 'Top Employers For Canadians Over 40' Are Announced

Monday, 16 January 2023 02:33.PM

As employers across Canada grapple with the most competitive job market in decades, organizations are redoubling efforts to pay attention to the needs of their older workers. The best of these initiatives were recognized today, as the Top Employers for Canadians Over 40 for 2023 were announced by Mediacorp Canada Inc., organizers of the annual Canada's Top 100 Employers project.

"Employees in the second half of their careers have different priorities than those just entering the workforce, such as family commitments and preparing for retirement," says Richard Yerema, executive editor of the Canada's Top 100 Employers project. "This year's winners offer programs that address those needs, providing stability and the flexibility to balance work and family commitments."

Now in its 22nd 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 programs and benefits of interest to employees 40 years of age and older.

"It doesn't take long for younger workers at an organization to see how their older colleagues are treated," adds Anthony Meehan, publisher at Mediacorp. "It speaks volumes about an organization's culture when younger workers can say 'that will be me in a few years' and feel good about how their employer is taking care of workers at every stage of their careers."

The Top Employers for Canadians Over 40 competition reviews a wide range of practices at employers, including: active recruitment programs for employees over 40; a range of health, financial and family-friendly benefits, such as retirement savings, providing health benefits to retirees, and support programs like succession planning and phased-in work options; and opportunities for retirees to stay socially connected with colleagues after they stop working.

Some the initiatives singled out by the editors this year include:

• CIBC celebrates careers milestones with a long-established recognition program, honouring long-time employees with an additional one-time week of vacation at their 25-year anniversary.

• Carleton University offers robust health and wellness programming as part of its extensive healthy workplace initiative, providing flexible benefits that enable employees to care for themselves, including paid sick time and unlimited coverage for psychologist services, massage and physiotherapy.

• AFSC helps employees plan for life after work through separate retirement planning courses for employees over and under 45 years of age – and supports them with generous contributions to a defined benefit pension plan.

• Imperial Oil supports employee development with generous tuition subsidies (to $20,000 annually) and over 10,000 in-house and online courses available in various learning styles, from instructor-led classes to virtual classrooms and blended learning.

• BDC helps employees plan securely for the future with contributions to a defined benefit pension plan and health benefits that extend to retirees (100% premium coverage, with no age limit). Employees can participate in an additional savings and investment plan, allowing them to contribute a percentage of their base salary to a group RRSP or TFSA with matching employer contributions.

Founded in 1992, Mediacorp Canada Inc. is the nation's largest publisher of employment periodicals. Since 1999, the Toronto-based publisher has managed the Canada's Top 100 Employers project, which includes 18 regional and special-interest editorial competitions that reach millions of Canadians annually through a variety of magazine and newspaper partners, including The Globe and Mail. Mediacorp also operates Eluta.ca, one of Canada's largest job search engines, which reaches over two million job-seekers annually and features exclusive editorial reviews from the Canada's Top 100 Employers project. The company also publishes The Career Directory, now in its 30th year – a free online guide for recent college and university graduates looking for employers hiring candidates from their educational background.

The full list of the Top Employers for Canadians Over 40 (2023) was announced this morning on the competition homepage, which includes our editors' detailed reasons for selection as well as dozens of photos and stories about this year's winners.

SOURCE: Mediacorp Canada Inc.

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