October 23, 2014
The current workplace is a unique mix of generations that are no longer interested in the same benefits from their employers. Between aging baby boomers, the Gen-X sandwich generation raising kids and caring for elderly parents, and young tech-savvy Gen-Ys, smart employers will need to customize their benefits if they want to stay relevant to employees of all ages.
Not too long ago, group benefits were fairly standard: traditional...
October 17, 2014
More than any other time in history, Canadians are experiencing incidences of diabetes, cardiovascular disease and cancer, which continue to rise every year. According to Statistics Canada, between 1999 to 2009 the prevalence of diagnosed diabetes among Canadians increased by 70%, due in large part to being overweight or obese.
That said, 50% of the factors that determine our health are controllable behaviours, according to the US...
September 17, 2014
What does the future hold for benefits sponsors and their employees? Over the next five to ten years, you can expect to see numerous changes in the benefits landscape - talent shortages, extended life expectancies, increased costs, technology innovations and preferences, generational differences and government cost-shifting will drive change. Employers need to be proactive and creative while responding to consumer demands.
August 28, 2014
Benefits including extended health and dental coverage are important in attracting and retaining employees, and extending those benefits into retirement can be a major draw for talented individuals. Yet a survey of 225 Canadian employers found that 44% do not offer retiree benefits, and an additional 10% have closed their programs to retirees going forward.
The primary reasons for not offering benefits to retirees were high program...
August 20, 2014
Mergers and acquisitions can make a company stronger for several reasons, including growth, access to markets, and additional skilled workforce to name a few. When considering an M&A however, it is also important to take into account employee group benefits (i.e., coverage for loss of life, income replacement and reimbursement of health and dental expenses).
While financial obligations of group benefits plans can appear...
August 19, 2014
Employee apathy is one of the largest problems faced by group retirement plans, and providing educations sessions and investment seminars don't appear to be improving participation. Why are employees so disengaged? Most are focused on the money in their bank accounts today, and not the money being saved for future retirement. This changes somewhat once the employee has a family, but even mature employees are focused more on...