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 […]
The Canada Pension Plan enhancements are a strong start but the country needs to do more to help people prepare for retirement, according to a new report from Ryerson University’s National Institute on Ageing. The paper — authored by Keith Ambachtsheer, director emeritus of the International Centre for Pension Management, and Michael Nicin, executive director of […]
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 […]
A majority of Canadian employees who are expecting to receive a holiday bonus this year want to put it towards their financial well-being, according to a new survey by Robert Half International. More than a quarter (27 per cent) of the 500 surveyed employees said they’re expecting a bonus this year. Nearly half (47 per cent) […]
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 […]
Millennials appear to understand how to use fixed income as part of investing for retirement better than older generations, according to a new survey by BNY Mellon Investment Management. The survey, which polled more than 2,000 American adults about the appropriate time to add fixed income to an investment portfolio, found 45 per cent of baby […]
While debt loads and plans for leaving an inheritance affect how quickly people spend their retirement savings, personality could also play a significant role, according to a new study published by the American Psychological Association. The study, conducted by Sarah Asebedo and Christopher Browning at Texas Tech University, looked at the personality and psychological data […]