If you want to reduce benefits costs and get the best ROI from your employee wellness program, implement participation incentives and automation. That’s the finding from a study by bswift, a U.S. software provider for employee benefits administration. The report, 2011 Wellness and Benefits Administration Benchmarking Study, surveyed 150 companies, and found that of those […]
While plan sponsors across the country are retreating from DB arrangements that are costly to the bottom line in good times—and even more so in economic downturns such as those we’ve faced over the past decade—more and more are looking to DC as an alternative retirement savings option for their employees. According to the 2011 […]
What’s the best way to communicate with your DC plan members? It’s a question many plan sponsors struggle with as they try to educate and engage their members. Unfortunately, there’s no quick and easy answer. Communication methods are always changing, and sponsors are increasingly required to implement a variety of techniques. “I think the methods […]
Lorna Willner, Steam Whistle’s HR manager, talks about the perks that keep employees interested. Explain Steam Whistle’s profit sharing and shareholder plans. Profit sharing is for everybody…even if, for the year, an employee does just 12 shifts, he or she would still be eligible to participate but on a pro-rated basis. Once an employee has […]
On March 22, 2000, Steam Whistle Brewing’s first bottles of Pilsner rattled along the production line. “Since that time, we’ve just worked on building a culture of respect here,” says Greg Taylor, who co-founded the brewery along with Cam Heaps. “Individuals can come to work and feel they can make a contribution. It’s a fairly […]
Despite increased demand for new hires, leadership ineffectiveness threatens employee attraction and retention, according to the findings of the 2011 Canadian Talent Survey by Aon Hewitt. The study, which polled 386 organizations nationwide earlier this year, found that many organizations doubt their leaders’ ability to meet the challenges of today’s post-recession environment. The majority of […]
Watch this video Too often, benefits plan administration and costs take up a plan sponsor’s focus—leaving communication efforts to suffer, says Sarah Beech, region director, Central Canada, with Aon Hewitt. In this BenefitsCanadaTV interview, Beech discusses ways employers can make their benefits plans more engaging, by bringing plans “to a more personal level as opposed […]
There has been tremendous focus in recent years on advancements in insurer technology in areas such as employee self-service, online reporting, e-claims and Web-based administration systems. For an industry that has historically been slow to embrace technology, there has now been a significant amount of catch-up in the last three to five years. But are […]
Watch this video Want to tailor your DC plan to members? Then put their investment options directly in front of them and force them to make a choice, says Michelle Peshko, senior advisor, pensions and investments for Xstrata. “Rather than just provide a default that may be appropriate for most people, force the individual to […]
Employee morale is down, but benefits education can be an effective way to boost workplace satisfaction, says a recent survey by U.S.-based benefits provider Unum. The survey of 1,712 working adults found that 63% of employees think their employer values their work, down from 70% in 2008, and that even fewer, 56%, feel that their […]