An in-depth look at these and other subjects are covered in the current issue of the Morneau Shepell News & Views
TORONTO, Oct. 23, 2018 /CNW/ - Morneau Shepell released the October 2018 issue of its monthly newsletter, News & Views, in which the Company looked at a number of topics including: Morneau Shepell’s 2018 Trends in Human Resources Survey and a ruling by the Quebec Human Rights Tribunal on equal wages for student employees.
- Morneau Shepell releases annual Trends in Human Resources Survey – Each year, Morneau Shepell conducts a survey on Canadian employers' priorities for the coming year, expected changes in compensation and the opportunities and challenges that have the potential to affect the Canadian workplace in 2019. This year, Morneau Shepell found that salaries are expected to increase by an average of 2.6 per cent in 2019. The study also found that some of the top priorities for HR leaders include improving employee engagement, improving the mental health of employees and reducing employee turnover. In addition, the company found that the upcoming legalization of cannabis, the #MeToo movement, dealing with increasing health costs and optimizing retirement plans are among the top emerging issues to watch.
- Quebec Human Rights Tribunal rules that lower student wage rate is discriminatory – A recent ruling by the Quebec Human Rights Tribunal found that offering student employees a lower wage rate than casual and regular employees who are doing the same work is discriminatory. It was noted that students are protected by the Quebec Charter of Human Rights and Freedoms with respect to a discriminatory practice based on social condition and age. The Tribunal concluded that students were performing work equivalent to that of the company's casual and regular employees and as such, should be entitled to the same wage.
- Tracking the funded status of pension plans as at September 30, 2018 – Morneau Shepell shared the changes in the financial position of a typical defined benefit plan with an average duration since December 31, 2017. The graph in the newsletter shows the impact of three typical portfolios on plan assets and the effect of interest rate changes on solvency liabilities of medium duration.
- Impact on pension expense under international accounting as at September 30, 2018 – Morneau Shepell showed the expense impact for a typical pension plan that starts the year at an arbitrary value of 100 (expense index). Since the beginning of the year, the pension expense has decreased by 10 per cent (for a contributory plan) due to an increase in discount rates despite the low returns on assets (relative to the discount rate).
About Morneau Shepell
Morneau Shepell is the only human resources consulting and technology company that takes an integrated approach to employee well-being, health, benefits and retirement needs. The Company is the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. LifeWorks by Morneau Shepell is a total well-being solution that combines employee assistance, wellness, recognition and incentive programs. As a leader in strategic HR consulting and innovative pension design, the Company also helps clients solve complex workforce problems and provides integrated productivity, health and retirement solutions. Established in 1966, Morneau Shepell serves approximately 24,000 clients, ranging from small businesses to some of the largest corporations and associations. With more than 4,500 employees in offices across North America, Morneau Shepell provides services to organizations around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell Inc.