Scotiabank’s win at Benefits Canada’s 2021 Workplace Benefits Awards led to increased employee engagement and peer recognition, says Rosemary Hatnay, director and head of total rewards solutions and global human resources services.
The bank won in the Pension plan communications category for its streamlined approach to its defined benefit plan statements, making essential information more accessible to plan members. “It’s been a real success for the employees that worked on the project,” she says. “We’ve also had peers reach out to learn about our process, so we’ve been sharing that learning as well. I equate these awards to the Academy Awards of the industry, so they’re a big deal.”
Read: Scotiabank awarded for making pension statements more accessible
Hatnay says employees have provided a lot of positive feedback on the new communications format, noting Scotiabank is currently working on streamlining its defined contribution pension plan communications. “It’s a different plan, but we want to have that same look and feel so all of our employees have the same communication feel when it comes to their retirement programs.
“It’s an honour to win and it was a bit of a fist-bump to the team,” she adds. “It let us know we’re on the right track. It’s great to get that feedback from employees and when we get that feedback from the industry, it’s the icing on the cake.”
For 2022, the Pension plan communications category will be moved to our companion publication the Canadian Investment Review’s Pension Leadership Awards. However, the 2022 Workplace Benefits Awards includes a Financial wellness category for any plan sponsors looking to highlight their pension or retirement savings programs.
Enter the 2022 Workplace Benefits Awards here. The deadline is June 30.