Flex hours, education, T&D top retention strategies: Survey

The most common types of programs Canadian employers use to retain employees are flex hours, education and training and development, according to a survey by BMO Bank of Montreal.

Flexible work hours top the list (76 per cent), followed by education, training and development (66 per cent), increased health and dental benefits (36 per cent), an increase in paid vacation time (29 per cent), tuition assistance (27 per cent) and telecommuting (25 per cent).

Beyond flex hours, large organizations are much more likely to offer various retention promoting strategies, found the survey of 502 employers:

•Nearly all large businesses (96 per cent) offer employees opportunities for education and special training, compared to 64 per cent of small businesses.

•Large businesses are twice as likely as small businesses to offer telecommuting to employees (50 per cent versus 25 per cent, respectively).

Companies in British Columbia are most likely (82 per cent) to offer flex hours to employees while Quebec business owners are the most likely to offer education and training opportunities (76 per cent), followed by those in Alberta (71 per cent).