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The COVID-19 pandemic brought forward human-capital-centered policies. For the majority of employers, the immediate focus became the health and wellness of their employees. 

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Summary

LIMRA surveyed 1,200 Canadian employers to determine the latest trends in employee benefits strategy. It was determined that benefits program components (insurance, retirement, and non-insurance plans) are largely managed independently from each other, despite the fact that these elements have one common goal — to attract and retain employee talent. This misalignment might prevent employers from quickly adapting to new environments, such as COVID-19, for example, where the strategic course of all benefit offerings, whether insurance, retirement, or non-insurance benefits, needs to be reevaluated concurrently.

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For more information, please contact ybabushkina@limra.com.