Other Brieflies this week:| MON | TUE | WED | THU | FRI |

When is a deadline not a deadline? When you’re negotiating the future of a massively underfunded, multi-billion dollars pension plan and the deadline is set by politicians.

GM Canada and the Canadian Auto Workers union (CAW) are still in talks today after missing last week’s deadline, which was set by the federal and Ontario governments. At stake are billions in government loans intended to prop up the automaker, but so far governments say the company has not cut costs enough.

“We will continue our talks as we work towards reaching a tentative agreement that we can bring back to our membership for ratification,” CAW president, Ken Lewenza, said in a statement to the press. “We have made some progress, however, there are a number of key issues that remain unresolved at this point.”

The pension is estimated to be short about $7 billion and supports about 25,000 retirees, according to the CAW. The union has already made concessions, as recently as March of this year.

Workers are being blackmailed by both levels of government, the CAW said on Wednesday, May 20, in an attempt to force the union to accept a cookie-cutter deal that mirrors the contract GM has with its American workforce.

• • •

Google system finds dissatisfied staff

Google says it has developed an algorithm to detect which employees are planning to leave the company, according to a report in the Wall Street Journal.

The internet giant developed the system after the departure of several top executives. It pored over the employee reviews, promotion and pay histories of 20,000 employees and now claims that it can know of a staffer’s departure intentions before the employee does.

• • •

Why people quit

In a Canadian survey conducted by David Aplin Recruiting, lack of trust in senior leaders was cited as the main reason people quit their jobs.

Insufficient pay was the second most common reason, followed by an unhealthy workplace culture.

The survey highlights that a majority of managers are unaware of the reason workers quit.

When a similar poll was sent to 250 Canadian managers and HR professions, most listed pay as the top reason, followed by an unexpected job offer or a decision to change careers—a clear disconnect with the reason workers give.

“What managers fail to perceive is that ‘push factors,’ mostly within their own power, are the initial stimuli—the first causesthat open the door to the ‘pull’ of outside opportunities,” said Jeff Aplin, executive vice-president of the national recruiting company.

The cost of replacing a worker is estimated to be 200% of the employee’s annual salary.

The survey points out that these costs are avoidable. More than two thirds of departing people said they first voiced their concerns to managers before deciding to leave; one-fifth said they would have changed their mind and stayed if their employer had agreed to try to alter the situation.

More than 1,600 Canadians participated in the poll.

• • •

Canadian CAP members keep their heads

Capital accumulation plan members may be watching their monthly investment statements more closely, but dramatic movements of capital have yet to materialize, according to a recent report.

Sun Life Financial’s InSight report reveals that while many plan members are contacting their plan providers for general education and investment advice, their money has remained parked and emotion is not substantively affecting their investment decisions.

“While this economic downturn has had an impact on investments, it’s encouraging to see plan members taking a long-term approach and seeking assistance through our call centre and website when it comes to their savings,” says Claude Accum, senior vice-president, group retirement services with Sun Life Financial Canada. “Taking advantage of savings programs at your workplace can play a significant role in a person’s overall financial plan.”

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com