Human Resources Issues for Senior Management
Issue link: https://digital.hrreporter.com/i/747024
08/CANADIAN HR STRATEGY which is not in the near future, or savings, really. And so how do we capture that attention? How do we turn it into something that they can understand will bene t them? If you run a cash ow planning seminar, it's not a terribly thrilling topic..." And when it comes to nancial education, numeracy is a huge part that's missing, says Wiginton. "Let's take a further step back and look at OK, why is it that 60 per cent of Canadians have a level two numeracy skill level, meaning their ability to deal with only simple, clear, uncompli- cated tasks involving numbers? And then try and translate that to all the stuff we talk about when it comes to money and how complex it becomes, and it's no wonder that a large portion of the population cannot connect with what's being delivered." REACHING EMPLOYEES SUCCESSFULLY It's about reaching employees where they are and enabling them, says Vatche Rubenyan, senior director of compensation and bene ts, HR, at Rogers Communication in Toronto. "I know it's a cliché but it sounds like customization might be the way to go," he said. "Often, when we seek solutions, there's still a big — I don't want to use the word patronizing — but it's a bit of a sort of like Big Brother saying, 'OK, you know, the employer is offering this program that will solve all your problems.'" The reality is people won't respond because of differences with their needs and their personal state, says Rubenyan. "I'm seeing (more) differences now than say two years ago. Some of the solutions that are being offered now I think are really good and I think, funnily enough, we're getting some push from our businesses where people are coming together and saying, 'Hey, HR, can you offer this program?'… We have Canada, says Briant. "We all worry a lot about whether we should be offering ad- vice or we should leave it to anybody else to offer advice, but employees are really looking for information. And I think simi- lar to a relationship they have with their bank or their nancial institution when they're choosing external investments, you know, we shouldn't get too caught up in that," she says. "Most plans don't allow somebody to be 100 per cent in- vested in one very high-tech fund, as an example. So we've already puts lots of safeguards around that and so I think as organizations, we shouldn't be as concerned about the liabil- ity issue. I'm not saying we shouldn't always focus on ele- ments of risk but I don't think it's as signi cant in Canada as it may be elsewhere." The diversity of the workforce is also a challenge for nancial wellness, says Naren Daniels, director of retirement and savings programs, total bene ts, HR, at Sun Life Financial in Toronto. "When you look at the cross-generational needs, the way people are engaged, the younger population, it's much different today. And they are looking for other things than retirement, "IT'S ABOUT INDIVIDUAL CONTACT BECAUSE IT'S A PERSONAL THING. ONE WEBINAR ISN'T GOING TO FIX IT."