Siemens Canada is paying out $3.4 million in one-time bonuses to Canadian workers in appreciation of their extra work during the coronavirus pandemic. The company said the payments, which will go to all employees apart from senior managers by the end of this year, work out to about $1,550 per eligible employee. Read: Managing the holiday party, bonus […]
The Public Service Alliance of Canada is reiterating a call for its pension investment manager to divest its ownership in Revera Inc. over the company’s safety record during the coronavirus pandemic, saying the fund should “pull out of the business of long-term care” altogether. The public sector union, which represents 140,000 public sector pension plan members, first said […]
While there’s still a period of uncertainty ahead, the deployment of coronavirus vaccines is already having a positive effect on markets, according to a webinar hosted by FTSE Russell on Wednesday. In November, the global and U.S. equities markets saw double-digit returns following vaccine announcements by pharmaceutical firms Pfizer Inc., Moderna Inc. and AstraZeneca, said […]
Almost one in four (24 per cent) of Canadian employees said the coronavirus pandemic has led them to consider a job or career change, according to Morneau Shepell Ltd.’s latest mental-health index. Younger employees are much more likely to be mulling their options, as 36 per cent of respondents under the age 40 said they’re considering […]
‘Tis the season for employers finding unique ways to mark the holiday season during the coronavirus pandemic. When the December holiday season rolls around, Rogers Communication Inc. staff usually work as efficiently as elves to transform the Rogers Centre into a carnival. They arrange for midway rides to sit in the Toronto ballpark and hire […]
In the wake of the coronavirus pandemic, U.S. employers are embracing flexible working arrangements and considering adopting a hybrid model for rewards and pay, said a report by Willis Towers Watson. The report showed a majority (59 per cent) of employers surveyed have workers who are currently telecommuting, including 25 per cent who are able […]
Employee share purchase plans are enduring the ongoing coronavirus pandemic, despite dips in stock prices for some sectors, says Scott Anderson, regional vice-president of employee benefits at Hub International Ltd. “There are companies in the transportation and entertainment industries that have taken major hits, but for the most part they’re doing their [employee share purchase […]
Walmart Canada Corp. is giving new cash bonuses to its employees, saying the “appreciation bonus payment” recognizes their ongoing dedication during the coronavirus pandemic. The move follows similar announcements made by other companies in recent weeks, including Sobeys Inc., and could put pressure on more retailers to offer so-called hero pay to essential workers as the […]
Employee benefits and total rewards planning have always been a critical element of business planning, but never more so than during the ongoing coronavirus pandemic. Mercer Canada conducted a recent client poll which showed that unlike previous years, most Canadian organizations still had not set their salary adjustment budget for 2021 as of early November. While […]
Corby Spirit and Wine Ltd. and Hiram Walker & Sons Ltd. are de-risking with a $176-million group annuity buy-in amidst volatile markets caused by the coronavirus pandemic. The deal covers 750 retirees and beneficiaries and there will be no change for plan members, who will continue to be paid from the plan as before the […]