Benefits of Creating Accessible Workplaces

Updated:
March 31, 2021

Recruiting and retaining skilled talent can be a challenge for businesses - especially as markets are faced with an ageing workforce and a lack of young talent.

One way organizations can strengthen their workforce and navigate this difficult recruitment landscape is by hiring individuals with disabilities.

There are both direct and indirect benefits for businesses that establish accessible employment practices, including the following:

Access to a large talent pool.

According to the most recent data from Statistics Canada, approximately 3.8 million Canadians are affected by a disability. From a hiring perspective, this represents a major market, as those with disabilities are three times more likely to be unemployed than those without a disability.

Improved revenue and cost savings.

Accessible employment practices have been shown to have a positive impact on an organization's bottom line. Research has shown that companies that invest in accessible employment practices reported a number of benefits, including the following: 

  • Higher retention and lower turnover
  • Improved attendance
  • Enhanced job performance and work quality
  • Better safety records

A positive brand image.

Inclusiveness matters to consumers. As such, demonstrating that you care about diversity can improve customer loyalty and distinguish you from competitors.

When hiring individuals with disabilities, it's important to ensure that all of your facilities meet their unique needs. Conduct a thorough assessment of your locations and implement any changes to improve workplace accessibility.

Keep in mind that Ontario has specific requirements related to workplace accessibility. Be sure to examine these closely in order to remain compliant.

FAQs

What is financial advising?

Financial advising involves providing guidance and advice to individuals, families, or businesses to help them make informed decisions about their financial matters. This can include various aspects such as investment planning, retirement planning, tax planning, estate planning, and more. Financial advisors analyze their clients' financial situations, goals, and risk tolerance to create customized strategies that align with their objectives.

Why is financial planning important?

Financial planning is crucial for several reasons:

Goal Achievement: It helps individuals set and achieve financial goals, whether they are short-term, such as buying a home, or long-term, like funding a comfortable retirement.

Risk Management: Financial planning addresses risks by considering insurance, emergency funds, and other protective measures.

Budgeting and Saving: It promotes responsible money management through budgeting and saving, fostering financial stability.

Wealth Building: Effective financial planning can lead to wealth accumulation and the creation of a secure financial future.

Can financial advisors help with debt?

Yes, financial advisors can help with debt management. They can assess your overall financial situation, create a budget, and develop strategies to pay down debt efficiently. They may also negotiate with creditors on your behalf, provide debt consolidation recommendations, and offer guidance on prioritizing and managing debt repayment.

What exactly does a financial advisor do?

The specific responsibilities of a financial advisor can vary, but generally, they:

  1. Conduct a thorough analysis of a client's financial situation, including income, expenses, assets, and liabilities.
  2. Develop personalized financial plans based on the client's goals, risk tolerance, and time horizon.
  3. Provide investment advice and portfolio management services.
  4. Offer guidance on retirement planning, estate planning, tax planning, and insurance.
  5. Monitor and adjust financial plans as needed based on changes in the client's life or market conditions.
  6. Educate clients on financial matters and empower them to make informed decisions.
What is the average fee for a financial advisor?

The fees charged by financial advisors can vary widely based on factors such as the advisor's experience, the services provided, and the region.

Common fee structures include:

Hourly Fees: Advisors charge an hourly rate for their services.
Flat or Fixed Fees: A set fee is charged for specific services or a comprehensive financial plan.
Asset-based Fees: Fees are a percentage of the assets under management (AUM).
Commission-based Fees: Advisors earn commissions on financial products they sell.
Combination of Fees: Advisors may use a combination of the above fee structures.
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It's important to discuss and clarify fee arrangements with a potential financial advisor before engaging in their services.