There’s never a drought of challenges for employers and 2023 is proving no different. Today, they’re facing inflation, labour shortages, competition for hiring, high turnover and employee burnout, to name just a few. That’s why it’s no surprise the ball is firmly in employees’ courts. Alongside the interminable rise in the cost of living and […]
Financial education programs can be humdrum at times, bringing to mind the iconic sleepy classroom scene in the movie Ferris Bueller’s Day Off. With that in mind, Fluor Canada is empowering employees to take stock of their finances through fun and engaging programs that appeal to the different generations that make up its workforce. Employees […]
The Alberta Investment Management Corp.’s chief human resources officer discusses the evolving employee life cycle, autonomous working and competitive weightlifting. Q: What top challenges do you face in your role? A: The talent environment is complex right now. There’s an increase in retirements and workers are more transient than before. To ensure we’re rebuilding for […]
At the 2023 Defined Contribution Plan Summit, which was hosted in Montebello, Que. on Feb. 21-23, delegates learned from employer case studies and expert thought leadership about innovative pension plan design, financial wellness programs, decumulation solutions and investment opportunities to support their DC plan members. Indeed, alongside high inflation and interest rates, members are facing […]
The traditional aim for the defined contribution pension industry has been helping plan members save for retirement, but as the nature of employment, plan design, investment choice and member engagement evolves, that objective is changing to financial wellness. “The world has changed significantly since the defined contribution business emerged,” said Marc-Antoine Morin, assistant vice-president of […]
Financial stress is impacting Canadians’ mental and physical health, as well as decisions related to their pension plans, said Matt Davison, Western University’s dean of science and principal researcher, during a session at Benefits Canada‘s 2023 DC Plan Summit. In an analysis of the National Payroll Institute’s annual survey, Western’s financial wellness lab found respondents’ financial perspectives […]
PepsiCo Canada’s enhanced defined contribution pension plan is supporting the retirement goals of a very diverse employee population. The company, which employs roughly 11,000 people across its food and beverage divisions, has a wide range of roles, from drivers and warehouse workers to sales employees. While the organization offers multiple pension plans, the majority of […]
With multiple generations in Canada’s diverse labour force, each generation has distinct needs and expectations, with millennials, in particular, creating increasing challenges for plan sponsors. The age group is comfortable talking about finances, but they aren’t saving for retirement, said Maria-José Perea, vice-president of product innovation in group retirement savings at Desjardins Insurance, during Benefits […]
Any new benefit introduced at Amazon has to align to its 16 leadership principles, which the organization lives and breathes every day. These include: learn and be curious, think big, inventing and simplifying, customer obsession and bias for action. “When we roll out a benefit, it has to fit into our leadership principles,” said Adam […]
The vast majority (92 per cent) of white-collar workers say they’re stressed about their finances, according to a new survey by BrightPlan. The survey, which polled more than 1,400 employees, found workers who are financially stressed reported impacts on their mental (72 per cent) and physical health (60 per cent). Nearly two-thirds (64 per cent) […]