workplace solutions - hrpa · workplace solutions – a value-added service for employers and their...
TRANSCRIPT
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Exploring the link between health and finances
WORKPLACE SOLUTIONS Life’s brighter under the sun
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Canadians are generally a happy bunch – 85%!
DEBT
2
Of the 15% who say they’re unhappy - what’s the top contributing factor?
Source: 2015 Sun Life Financial Canadian Health Index
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Retirement 7 in 10 Canadians do not retire as planned • #1 reason is personal health
Financial burden Almost ½ of Canadians have experienced a health event which affected their personal finances
HEALTH Finances & stress Top 3 stressors for Canadians who have at least one source of stress are related to finances
Linking Health and Finances
Sources: 2014 Sun Life Canadian Health Index, 2015 Sanofi Canada Healthcare Survey 3
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Canadians are facing a gap in financial preparedness
Source: 2015 Sun Life Financial Canadian UnretirementTM Index
• 56 % of Canadians are dissatisfied with their retirement savings
• 36 % think there is a serious risk they could outlive their savings
• 78 % don’t have a written financial plan
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Along with taking steps to maintain physical and mental health,
preparing financially for a health event may
reduce the cycle of stress and financial
strain.
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87% of employees say they want their employer to offer a financial education program.
6 Source: Benefits Canada 2013
Employees want your help and support
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What is your primary focus?
A. Pension B. Benefits C. Health & Wellness D. Pension & Benefits
combination E. Pension, Benefits &
Health & Wellness Pensio
n
Benefits
Health &
Welln
ess
Pension &
Benefits c
o...
Pension, B
enefits &
He...
0% 0% 0%0%0%
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Challenges employers are facing
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Four distinct generations with different profiles
Employees’ over-reliance on, or not using company plans
Maintaining a healthy and productive workforce
Responsibility to educate
A desire to provide more for your employees while balancing cost
+ + +
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Are you developing a financial wellness program?
A. Haven’t started yet B. Planning is
underway C. Just about done D. Yes, exists today
Haven’t s
tarted ye
t
Planning i
s underw
ay
Just about d
one
Yes, exis
ts today
0% 0%0%0%
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Workplace Solutions (WPS) services
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WPS
Information Seminars
One-on-one
financial consulting
Transition Services
Retirement Services
Executive Services
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Workplace Solutions – a value-added service for employers and their employees
11
Financial coaching delivered by
qualified advisors
Employee
Reduce financial stress to strengthen
relationship with employees
Employer
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Case study
Sun Life Financial – “Nudging your employees”
Naren Daniels, Director Retirement and Savings Programs
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What size is your organization?
A. 0 – 49 B. 50 – 249 C. 250 – 499 D. 500 – 999 E. 1000+
0 – 49
50 – 249
250 – 499
500 – 9991000+
0% 0% 0%0%0%
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How would you describe your workplace?
A. Manufacturing environment
B. Office environment C. Retail D. Field employees E. All of the above
Man
ufacturin
g envir
o...
Office envir
onment
Retail
Field employees
All of t
he above
0% 0% 0%0%0%
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Sample work place structure
• Employees located from Halifax to Vancouver
• Many buildings • Field employees, office employees
(corporate and call centres)
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How do you capture the attention of such a diverse workforce?
ENGAGEMENT
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Engagement Exercise
• There are 2 teams passing a basketball, a team wearing white T-shirts and a team wearing black T-shirts
• How many times does the white team pass the ball?
Instructions:
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Engagement Exercise
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Create Presence
Online and in Print: • Poster • Brochure • Handout
Online and Print Content: • Awareness • Contest details • Where to find out more
How do we create presence?
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Create Presence How do we create presence?
• Physical: Drop in booths – contests and
give-a-ways • Use ambassadors : Employees HR Staff WPS
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Sample results since January 2014
• Over 5,500 employees requested further discussions with a Sun Life Financial advisor
• Stock plan participation increased 105% from the prior year
• RRSP enrolments increased 50% from the prior year • Pension Plan enrolment increased 106% from the
prior year
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Are you interested in bringing Workplace Solutions into your organization?
A. Yes B. No
Yes No
0%0%