Across the globe, captains of industry are confronted with a mixed bag of challenges. On the front lines and fault lines, central banks in major economies are on standby to stabilize financial markets, the U.S. economy suffers from a tepid recovery, and new concerns are emerging about the sustainability of growth in emerging economies. The stage is set for an interesting journey ahead.
So just how are decision-makers addressing the mounting pressures on their bottom lines? Are there strategic courses they might take to avoid a bear-driven race?
We’ve asked an expert panel to offer insights on Canada’s seemingly resilient economy in the face of challenging global market conditions. Contributor Tony Beaulac, a principal at SSgA Investment Solutions Group, reports that, despite softness in some bellwether markets, indicators still look hopeful for Canadian capital markets that have managed to weather external storms (“Global Vision”).
What is clear about the mounting pressures facing the pension and benefits industry, however, is that not everyone is following the same course to their desired endgame.
Neil Lloyd, a partner with Mercer’s investment consulting business, suggests there are concrete ideas to cull from U.K. and U.S. DC plan designs and calls for a broader approach to workplace savings (see “Across the Universe”). While his recognition of the multi-generational nature of the workforce is hardly novel, drawing attention to the idea that pension plans as a one-size-fits-all solution is losing relevance deserves consideration.
Ditto for Morneau Shepell’s Paula Allen, who prods Canadian plan sponsors to harvest ideas from other countries if they’re looking for ways to improve their drug plans (“Friends with Health Benefits”).
As the rules of doing business within a fiercely competitive environment continue to evolve, so, too, do the requirements, expectations and pressure to produce results. The challenge, from where I stand, is to exploit new opportunities by leading change prudently and sensibly, instead of following the flock.
Thankfully, at Benefits Canada, it’s business as usual—we’re ever ready to take on the issues that grapple the industry and poised to convey up-to-the-minute, relevant trends.
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