Exploring the link between health and finances

WORKPLACE SOLUTIONS Life’s brighter under the sun

Canadians are generally a happy bunch – 85%!

DEBT

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Of the 15% who say they’re unhappy - what’s the top contributing factor?

Source: 2015 Sun Life Financial Canadian Health Index

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

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

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%

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

+ + +

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%

Workplace Solutions (WPS) services

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WPS

Information Seminars

One-on-one

financial consulting

Transition Services

Retirement Services

Executive Services

Workplace Solutions – a value-added service for employers and their employees

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Financial coaching delivered by

qualified advisors

Employee

Reduce financial stress to strengthen

relationship with employees

Employer

Case study

Sun Life Financial – “Nudging your employees”

Naren Daniels, Director Retirement and Savings Programs

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%

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%

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

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:

Engagement Exercise

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?

Create Presence How do we create presence?

• Physical: Drop in booths – contests and

give-a-ways • Use ambassadors : Employees HR Staff WPS

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%

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Contact Workplace Solutions

• Feedback form

• wpmg@sunlife.com