By Cameron Campbell
“It is the first time ever; the Canadian workforce is made up of four generations.”
A“Life Generational Review” done by a major insurance carrier, Sun life has some interesting findings worth noting.
It is the first time ever; the Canadian workforce is made up of four generations.
Early Boomers are defined as age 56-65, see the world as their oyster and are very idealistic. They will challenge the status quo and change the world. In the workforce they are focused, hardworking and loyal to a fault. Status and salary is most important to them.
“The challenge today with all four generations in the workplace is designing and implementing a group benefits plan that results in being world class competitive…”
Late Boomers age 46-55 have a tempered optimism balancing idealism and realism. They are competitive and very conscious of their image and the materialistic side of life. At work you will find them loyal, hard driving, workaholics respecting hierarchy on less formal bases. Their status and salary is VERY important to them.
Gen X age 29-45, tend to be a little cynical but are cautiously optimistic. This generation is independent and self reliant, they always ‘look before they leap’ and highly value technology as one of their tools. In the workplace they have a solid work ethic, seeking work life balance and waiting to move up in the organization. A generation that wants to be loyal to their organization but are wary to trust. (more…)
The YMCA and BHH Benefits have teamed up to provide your organization, employees and dependents a two week trial pass at any YMCA within Ontario absolutely Free.
Now is the perfect time to recommit to your fitness, health and well-being.
To receive your complimentary pass from BHH, please register below by providing your name and company email address. Once you login you will be able to download the Y Pass which can be shared with all of your employees and their dependents.
(more…)
By Cameron Campbell
How does my benefits program stack up against the competition?
After the handshakes and opening chit-chat, the first question benefits program advisors get from most companies is “How do I compare against similar firms in my industry?” It’s a fair question because to get the business, all companies compete for the best people to deliver their product – whether it’s a machine part or landscaping. You need to have a combined compensation-benefits plan to attract talent and more importantly, retain them.
Say you’re Acme Die and Tool, a smallish company competing in an industry with pockets across Canada. You could commission your own assessment. But if it’s done properly, it’s costly and can be time-consuming. You could sign on to an existing omnibus study that might deliver a thick report, but isn’t focused on companies like you in your geographic area. This is like shooting at a target 100 yards away with a shotgun instead of a rifle…
Only benchmarking your program can give you the answers you need.
Only benchmarking can tell you for sure if your benefits measure up. BHH Benefits is among a handful – a mere one per cent to be exact – of benefits advisors who can mine major carriers’ databases to quickly and effectively assess your program against your rivals’ – locally or nationally.
This kind of intelligence is invaluable. It quickly tells you how you stack up and where you need to improve or tweak your program. Best of all, it demonstrates to employees that for benefits, you’re leading – not following – by custom-designing the best program for them. Just as you want customers to think your products are excellent, you want employees to know that not only is their pay packet competitive, the benefits side beats the competition.
That helps you attract the best… and keep them! (more…)
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