While fewer than half (42 per cent) of U.S. employers are currently offering financial wellness programs, that number is set to almost double to 80 per cent by 2023, according to a survey by the Massachusetts Mutual Life Insurance Co. The survey, which questioned nearly 900 U.S. employers, found 90 per cent of respondents said their primary reason for […]
Once again, we’re experiencing volatile markets. During these times, it’s common to hear the following statements: It isn’t time to panic. This has happened before. Make sure the pension plan’s asset mix is correct. While these messages may be good advice for individual investors, defined contribution plan sponsors should be considering how to help their employees. Here are […]
Canadian defined contribution plans offer a range of investment choices, from a single balanced fund, in some cases, to more than 25 options. Douglas Anderson, corporate services officer at the College of Physicians and Surgeons of Ontario: As a member of the College of Physicians and Surgeons of Ontario’s pension committee, I believe in offering […]
Financial well-being benefits are on the rise in North America, according to a new survey by WorldatWork. Among the companies surveyed, 70 per cent said they currently offer financial well-being benefits, more than half said they intend to expand these benefits and 35 per cent said they’ve increased spending in this area. “Financial benefits play a critical […]
Strong competition to attract and retain talent will drive employers to adopt holistic employee wellness strategies in 2020, according to the Workforce Institute at Kronos Inc.’s global workforce predictions for the year. “We have these war for talent issues going on everywhere,” says Joyce Maroney, executive director at the Workforce Institute. “One of the ways […]
In November 2018, Niagara Casinos set up a pop-up coffee shop, called NC Café, across its three locations for a week. It was part of the company’s annual pension communications strategy, which also includes messaging on the employee intranet, seminars, targeted mailings and plan updates on fee reductions, contribution increases or investment fund changes. “This […]
The majority (70 per cent) of U.S. employees said their top financial concern is saving enough money for retirement, according to a new survey by StanCorp Financial Group Inc. The survey, which polled 1,000 full-time U.S. employees between the ages of 21 and 69, also found 57 per cent said they’re also concerned about monthly […]
It’s no surprise that FreshBooks takes its employees’ financial literacy seriously. The Toronto-based accounting software firm regularly holds lunch-and-learn workshops and hosts subject manner experts on a wide range of financial wellness topics, including investing basics and ethical investing, mortgages, building up savings and several aspects of tax preparation during tax season. It also offers […]
When it comes to engaging employees on matters of financial and personal wellness, it’s increasingly clear one size no longer fits all. In a roundtable in Toronto on Oct. 17, the 2019 Workplace Benefits Awards finalists focused their discussion on how to make sure their various programs and communication efforts were resonating with the multiple generations and […]
Niagara Casinos took home the mental-health award at Benefits Canada‘s 2019 Workplace Benefits Awards in Toronto on Oct. 17 for its thorough and comprehensive approach to supporting its employees’ mental health. Its strategy, which is focused on awareness and prevention, aims to create and support a mentally healthy workplace, remove the stigma and provide resources […]