As the coronavirus pandemic enters its fourth year, it’s perhaps unsurprising that the health crisis has taken its toll on employee mental health. Scotiabank saw a notable rise in claims for mental-health drugs in 2022, says Ayman Alvi, the bank’s vice-president of global pension and benefits, noting the increased use of these medications aligns with […]
As ‘quiet hiring’ becomes more prominent amid a challenging labour market, communication and incentivization are key considerations for employers, says Janet Candido, founder and principal of human resources consultancy Candido Consulting Group. “It can be a great growth opportunity for an employee, whether it’s presented as a stretch assignment or just an upscaling opportunity. You […]
While employee benefits are an important part of supporting mental health, these programs must be supported by a workplace culture that encourages mental well-being, said Joe Ricciuti, co-founder and chair of Mental Health International during a webinar hosted by MHI and the Ontario Brain Institute. “Obviously, they go hand in hand, but if you think […]
Changes to Ontario’s policy on the use of biosimilars in its public drug plan could result in savings for private benefits plans if they choose to follow the provincial model, says Theresa Tran, a principal in group benefits at Eckler Ltd. Starting March 31, Ontario Drug Benefit recipients who are on an originator biologic will […]
Amid the shift to remote and hybrid working arrangements, employers should ensure their after-hours social events are “easy, intentional and sincere,” says Kim Siddall, vice-president of enterprise consulting in the west at People Corporation. “The [coronavirus] pandemic gave employees permission to start opting out of aspects of [workplace] culture they didn’t really like. They’ve also […]
Amid the unprecedented events of the last three years, the Colleges of Applied Arts and Technology pension plan has remained on course with its investment strategies, according to Asif Haque, the plan’s chief investment officer. “We held our focus on the key goal of the CAAT’s investment program. . . . The plan’s diversified asset […]
The Financial Services Regulatory Authority of Ontario is promoting retirement planning with its inaugural Pension Awareness Day on Feb. 16. Through the event, the FSRA is aiming to spark conversations about retirement savings and inspire employees to take full advantage of employer-sponsored pension plans, says Caroline Blouin, executive vice-president of pensions at the FSRA, noting […]
A third (35 per cent) of employees say every workday feels the same, similar to the 1993 film Groundhog Day, according to a new survey by Robert Half Canada Inc. The survey, which polled more than 300 professionals via LinkedIn, also found, while 51 per cent said their workdays are balanced between repetition and variation […]
While it’s common practice for pension plan sponsors to factor climate risk into investment strategies, there’s more work to be done on factoring climate change into mortality and morbidity assumptions, says Bernard Morency, past chair of the Canadian Institute of Actuaries’ public affairs council and co-chair of its climate change and sustainability steering committee. “As […]
Vancouver City Savings Credit Union is supporting employee well-being by increasing its coverage for mental-health benefits from $1,500 to $10,000, per employee and per dependant. The enhanced benefit, effective July 1, provides coverage for mental-health providers such as counsellors — including group counselling sessions — and psychologists. Vancity’s current mental-health offerings include a telemedicine portal […]