Savings > Swag: Why a Plan for Financial Wellness Is What Employees Really Want

Pantries with high-end snacks. Ping-pong tables in the breakroom. Beer on tap. Corporate-branded hoodies. These days, everyone recognizes the calling cards of the “cool workplace.” But with the cost of living on a (very steep) incline, employees are looking past the office freebies and expecting more.

According to a 2024 Canadian workplace survey, financial wellbeing is the No. 1 employee priority, yet only 19 percent of employers are seen as effective in supporting the financial wellbeing of their employees. Nearly half of Canadians have experienced financial stress in the past year due to the rising cost of living and unexpected expenses, and less than a quarter of Canadians feel satisfied with what their workplace benefit plans currently offer for their financial planning needs.

Recalibrating your business’s financial wellness plan is easy with Wealthsimple for Business. 

What does a comprehensive financial wellness plan look like? We’re glad you asked.

Group RRSPs

A Group Registered Retirement Savings Plan (GRRSP) is a typical cornerstone of financial wellness at work. Wealthsimple for Business makes GRRSPs easy to understand and cost-effective to adopt. Team members get dynamic investment options and put on a clear path to financial freedom.

And since a Group RRSP can be used for goals beyond retirement, members can use the funds they save through their account for education, buying a home, and other long- and short-term goals.

More account options

We know that every employee has unique financial goals, and there’s no one-size-fits-all approach to achieving those goals. That’s why we offer multiple group account types — beyond the GRRSP — so employers can provide options that best serve their employees’ needs at the time. These include: 

The bottom line is flexibility for you and your team.

Simpler tax filings

Tax season can be a headache for anybody, we want to help employers make filing taxes easier for employees. Wealthsimple offers online tax filing for as little as $0, every Wealthsimple for Business client can access and leverage this tool.

With the added benefit of having their Group savings account at Wealthsimple, tax documents are automatically attached to the tax file in the tax product.

Financial Education Resources

Employers have access to free financial education resources to give to employees all. While providing financial benefits is key (as previously mentioned!), without a proper financial education, employees might not take full advantage of what’s being offered.

Wealthsimple Media provides financial education resources. Here are a few example resources employees can access:

Investing 101

Whether you’re brand new to the TSX or simply looking to up your trading game, Wealthsimple Investing 101 provides a strong investing foundation in less than 45 minutes. All financial education resources are freely accessible for everyone.

Personal Finance 101

Managing money can be tough — we get that

Nobody is born knowing how to put together a financial plan. At every corner there’s a new savings plan, financial influencer, or best-selling book promising ​ to teach every hack there is. That’s where Personal Finance 101 comes in.

Personal Finance 101 is a collection of resources compiled to help you understand some of the biggest financial topics out there. Unlock ​ resources covering everything from saving and taxes to retirement and crypto.

Wealthsimple Magazine

Have you ever been told it’s a faux pas to discuss money? We disagree.

Wealthsimple Magazine is the place for people who want to discuss money and all that goes into it. You can find a little bit of everything here, including articles on how weed has stayed affordable in a period of such intense inflation, mogul Kim Kardashian’s story with money, and how to ride out the inevitable downturns of the stock market.

We understand that financial wellness goes far beyond retirement, which is why Wealthsimple for Business is also going beyond retirement. 

If you want to join hundreds of Canadian companies already using Wealthsimple for Business, you can learn more or and get in touch!