Buck Bond Group

COVID-19: Key considerations for employers

The impact from the COVID-19 pandemic continues to present new challenges for employers, employees, families, suppliers, customers, and business operations. As the weeks progress, many unknowns remain, and this can be unsettling for businesses and employees alike.

Are you prepared to navigate the next stage?

Support for your organization

COVID-19 will have a profound impact on our world. Organizations are adapting to the immediate disruption, realigning business operations, and preparing for a recovery. This may include rethinking employee health and safety protocols, investing in new technologies, and determining if benefits programs support the emerging needs of your employees.

We’re committed to helping you respond to these new challenges through a variety of benefit administration services. Since the start of the pandemic we’ve introduced new solutions that keep you connected with your people, help you think through your options, and put a plan into action.

COVID-19 is impacting employers differently, and as the world evolves from where we are today to reimagination and eventually to recovery, you need to know that your people-related decisions will help you move forward with confidence.

Things to think about

Stay connected to your people

Now more than ever, it’s important for you to stay connected with your people. COVID-19 lockdowns and new remote workplace rules forced employers to quickly implement crisis communications plans to keep everyone informed, engaged, and to minimize disruption. Going forward, organizations need to be ready to communicate to an increasingly dispersed workforce using all available channels – websites, emails, texts, and video.

Return to the workplace

Deciding when and how to bring your people back on-site – and adjusting protocols for front-line employees that never left – is anything but straightforward. In a recent post-webinar survey, 56% of respondents said they have work to do here. With so many unknowns, as you reopen your onsite operations it’s important to develop a workplace safety plan and to use communications to help your people navigate the rules and requirements for a safe return to work.

Health benefits fit for today and tomorrow

What healthcare program offerings could support emerging employee needs or fill new gaps in the wake of COVID-19? HR and benefits departments continue to be on the front lines of business strategy, charged with making decisions to protect the health and welfare of your employees and their families. Promoting a culture of health has never been more important.

Retirement and financial wellbeing

Uncertainty around the global economic impact has led to unprecedented market volatility. Employers who sponsor retirement programs have faced disruption to the processes, administration, governance, investment strategy, and funding aspects of their plans. Pension plan sponsors are also considering temporary funding and administrative relief measures adopted by a number of jurisdictions and weighing their various impacts. Many employees are also worried about the volatility of the market and the corresponding value of their pensions and investments.

Legislation and compliance

As employers move past the immediate impact of COVID-19 and consider longer term business strategies, it’s imperative you pay careful attention to compliance obligations that affect workforce planning and benefits programs. The federal and provincial governments have passed a series of measures designed to assist employers and employees and these require careful consideration and/or examination given the current environment.

Emotional and mental health

With huge additional pressures on healthcare services, accessibility to medical providers may be challenging. And with remote working the new normal across many organizations, it’s more important for employees to look after not only their physical health, but also their mental health – and knows where to access the support they need.

Ready to talk

We’re here to help you navigate the crisis. Checkout our resource section below for checklists, guidance, and insight. To discuss your unique HR and benefit needs, schedule a conversation.

Contact us today

Resources

Webinar: Returning to a new normal: Pension and benefits considerations resulting from COVID-19

In response to COVID-19, Canada’s federal and provincial governments have passed a series of measures designed to assist employers and employees. Watch our on-demand webinar for an overview of key regulations and relief measures to help your company respond to the crisis and develop an action plan.

Watch the replay, Opens in new tab

For additional insights on how your organization can create a workforce today that can take on tomorrow, check out our thinking.

For personalized access to our latest HR and benefits news and analysis, register here.

Webinar

Mental health and wellbeing in an uncertain world

Watch the replay : Mental health and wellbeing in an uncertain world

FYI

OSFI lifts pension portability freeze

Read more : OSFI lifts pension portability freeze

FYI

COVID-19: FSRA updates include option to freeze DC contributions

Read more : COVID-19: FSRA updates include option to freeze DC contributions

FYI

COVID-19: Federal government updates subsidy measures

Read more : COVID-19: Federal government updates subsidy measures

FYI

COVID-19: Federal government enacts response legislation

Read more : COVID-19: Federal government enacts response legislation

FYI

Ontario enacts infectious disease provisions

Read more : Ontario enacts infectious disease provisions

FYI

COVID-19: OSFI freezes portability transfers

Read more : COVID-19: OSFI freezes portability transfers

FYI

COVID-19: Ontario’s declared emergency and ESA leave provisions

Read more : COVID-19: Ontario’s declared emergency and ESA leave provisions