Spotlight | Spring 2017 by Cowan Insurance Group

spotlight Providing insights and information on industry trends and developments.

Issue 2

Spring 2017

NUCAP GROWING A FOOTPRINT

GLOBAL

PLUS: Global Benefits Synchronization— are your benefits getting lost in translation?

Pharmacogenetics— Making Medicine Personal

The Changing Face of Flex Benefits

Are Your Employees Financially Literate?

Sleep Deprivation in the Workplace—Are Your Employees Getting Enough ZZZ’s?

NUCAP GROWING A FOOTPRINT

GLOBAL

F E AT U R E A R T I C L E

COWAN INSURANCE GROUP HAS A LONG-STANDING FOOTHOLD IN THE CANADIAN MANUFACTURING SECTOR. In conjunction with our subsidiary company, The Williamson Group, Cowan has the capability to offer manufacturing clients a dynamic range of comprehensive risk management and benefits solutions; brought together under one centralized umbrella. Join us as we take a closer look at one manufacturing company that has been able to benefit from this unique approach.

MEET NUCAP GLOBAL Manufacturing plays a vital role in the Canadian economy and helps cement our nation’s position among other economically developed countries. A positive aftereffect of the global economic pressures of the past few decades has been an inspired creativity as companies attempt to produce fresh, novel products to garner a greater portion of the market share. This same spirit of invention has made NUCAP Global—a leader in product development and production of brake system components—stand out from other brake part manufacturers. Founded in 1994, NUCAP remains a market-changing product leader, having introduced state-of-the-art conventional press automation and advanced die technologies. With re-defined process flow and ground-breaking engineering methods and standards, NUCAP has moved beyond the art of metal stamping to become a forward-thinking product innovator. As experts in cold form stamping for vehicle brake system components, NUCAP evaluates and improves the safety, durability, performance, quality, and cost of products. With an eye on stability and security, NUCAP's continued investment into the business has ensured a dependable supply of superior brake part components for their clients, and expanded their global footprint to operations spanning four countries and three continents. “When Cowan first partnered with NUCAP ten years ago, they had three locations in Ontario,” says David Black, Vice-President, Business Development, Ontario, at Cowan Insurance Group. “They had international sales, but their footprint did not extend beyond Ontario. Since then, NUCAP has more than doubled their size with acquisitions; and their footprint now extends globally.”

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Pictured from left to right: Neisha Bacchus, Global HR Director, NUCAP; Shannon Lesch, Controller, NUCAP; John Diniz, CFO, NUCAP; Colleen Baker, The Williamson Group

THE MANUFACTURING CONNECTION A long-standing partner to the manufacturing sector, Cowan has built a solid reputation as a knowledgeable, capable, and experienced service provider, with an understanding of the challenges that clients who operate within this sector face: a competitive and compensation-focused recruitment environment, supply chain management complexities, an international landscape in constant flux. With the capacity and knowledge to design feasible and sustainable solutions, Cowan offers their clients risk management solutions, cost optimization, and loss control services—as well as employee benefits, health and disability management and retirement programs—supported by experienced account management teams.

IT’S ALL RELATIVE From a relationship perspective, Cowan brings with it a well-developed network of contacts within this industry sector. “Our clients stand to benefit from our established relationships, as well as from those that we help facilitate within the industry,” says Marcus Morson, Industry Leader, VP Manufacturing at Cowan Insurance Group. “How many other suppliers can put talent in front of their clients when they need it the most?” With the current manufacturing talent pool shortage, many companies are struggling to bring skilled, qualified employees into the manufacturing fold. The close relationship Cowan maintains with local colleges and universities has helped introduce new talent to potential employers. 03

GOING GLOBAL MADE EASY Cowan’s experience and expertise can also help protect an organization’s international business practice. “When our customers have international exposure, it can make business risk more complex. Every country will have its own rules, customs, and regulations," says Marcus, “we have the industry connections that enable us to place and protect the business interests of our clients internationally.” A Canadian company with offices in Europe, for example, can easily be matched up with an insurance carrier who can best meet their needs—and one that satisfies the local legislative requirements while operating within the local language.

HELPING CLIENTS AVOID RISKY BUSINESS “International customers will often make cost-based decisions, without being aware of the risks involved from local political, geographical, or socioeconomic factors,” explains Marcus. “We act as a risk management advisor, helping clients review their supply chain and identify foreign market risk along with the potential ramifications of supply chain interruptions. We have something in the works for this specific type of risk that we’ll be announcing later this year,” he adds, “so stay tuned for more on that.”

A NOT-SO-COMMON COVERAGE When it comes to the manufacturing sector, Cowan brings a product to the table that many other brokers just do not offer. “Our trade credit insurance is accounts receivable insurance at a very competitive cost,” Marcus explains. “In many cases, it pays for itself, which is a great value-add for our clients. Marcus estimates that less

than ten percent of industries that need trade credit insurance have it, adding that, “there’s limited industry-wide knowledge about this sub-segment of insurance and risk management."

A MUTUAL SUCCESS NUCAP bases its success on product innovation and service excellence. Cowan supports NUCAP with a complete commercial global suite of services that includes Worldwide Commercial Property, Liability, and Automobile Insurance, as well as US Workers Compensation, Environmental Liability, Directors & Officers Liability, Canadian Retirement Program, Canadian & US Group Benefits, Disability Management, Credit Insurance, and Political Risk Insurance. “The program has grown to more than six times of what it was when

A DEEP UNDERSTANDING OF NUCAP’S BUSINESS AND DIVERSE CULTURE WAS ESSENTIAL IN DETERMINING WHICH PRODUCT AND SERVICE OFFERINGS WERE MOST VALUED BY OUR EMPLOYEES AND THEIR FAMILIES. The Williamson Group and Cowan Insurance Group have been able to fully integrate their expertise with knowledge of our business; understanding our employees’ needs to deliver products and services that meet our expectations. Through this process, NUCAP, The Williamson Group and Cowan Insurance Group have developed a strong and viable partnership. — Neisha Bacchus, Global H.R. Director, NUCAP Global

we first started. Our relationship is a success story that has grown along with the client,” says David Black. “The relationship is based on trust and on our commitment to the high service expectation that our customers expect— and that we deliver—on a daily basis.”

BRINGING IT ALL TOGETHER Jointly with The Williamson Group, Cowan offers clients like NUCAP a suite of multi-line products and services that can meet a diverse range of risk management and insurance needs within a centralized consulting approach. Centralized services can ease a client’s administrative headaches and can prove to be beneficial from a cost perspective. “A centralized consulting approach allows for multiline leaders to invest the time needed to engage with a client’s organizational philosophy and objectives across all lines of business,” notes Colleen Baker, Principal & Vice President, Corporate Sales at The Williamson Group. She gives the example of strategic meetings with line leaders. “That would not be possible without the services of a centralized consulting house,” she observes. “It’s about consistency in service and messaging—it speaks to an integrated and up-to-date understanding.” As a world leader in brake production and safety, NUCAP is proud of the level of customer service they consistently provide to their clients. Service excellence is a value and deliverable that they look for when choosing their business partners as well. "It's about choosing partners who understand your industry and employee needs, and align with your corporate values. Obviously, finding this within a onestop solution for benefits and risk management has been an asset for NUCAP," says Colleen. "It means that we can grow with them—and understand how they grow."

BENEFIT PLAN BENCHMARKING  3-PRONGED APPROACH The Williamson Group and Cowan Insurance Group takes a three-pronged approach when working with organizations to help uncover their competitive edge.

Financials

Current state, objectives, and philosphy

Benchmarking sources and data

Budget, cost per capita, claims experience

Organizational goals, challenges/concerns, economic, demographic and social landscape

Collection of data, cross-referencing of industry market and competitors

needs. A thorough understanding of the current state, objectives, and philosophy of a benefits plan is imperative when contemplating and evaluating change. “That’s why organizational goals and demographic/ social composition are at the center of our approach,” explains Colleen. “NUCAP made it clear from the beginning that the health and wellbeing of their employees—in addition to the competitiveness of their benefit plan—was paramount in importance to them,” recalls Colleen. “So, one of the first steps we undertook was to perform a benchmarking.” “Many of our clients wonder why we always begin with a benchmark survey,” says Colleen. “A baseline survey helps ensure that a company’s plan remains competitive while simultaneously identifying benefit gaps.” Benchmarking results, along with financial information, shed light on how well an organization’s current benefit plan is serving their needs. It also evaluates how the plan compares to other similar industries. “Benefits represent a significant cost to employers. We recognize that the benefits program must fit within existing budgetary constraints while closing any potential gaps relative to the target benchmark position,” explains Colleen.

THE BENCHMARKING BAROMETER

WHO SAYS YOU CAN’T HAVE IT ALL?

Plan sponsors must manage benefit costs while continuing to provide competitive compensation packages to a workforce with increasingly different

“HR professionals and stakeholders today are being asked to pay more and offer employees less,” says Colleen. She compares it to purchasing a brake

assembly without all of the pieces included. “At the end of the day, it’s the consumers who are most affected, and when it comes to benefits, this could be a detriment to the employee.” “Often, the choice comes down to cost or quality, but HR and stakeholders should understand that they can have both,” says Colleen. NUCAP has high standards to meet their clients’ needs which require partners who can deliver the same commitment and service back to their employee workforce. Cowan and The Williamson Group have brought specialized industry knowledge and a multi-line offering to NUCAP that continues to deliver positive outcomes for all. “One of NUCAP’s corporate values is growth through partnership,” she concludes, “and they should expect nothing less than the same high standards when partnering with an organization that understands their corporate culture, vision, and mission.” 

CONTRIBUTORS Colleen Baker

Principal & VP, Corporate Sales The Williamson Group

1-800-265-9973 ext. 260 cbaker@williamsongroup.com

Marcus Morson

Industry Leader, VP Manufacturing, Commercial Lines Cowan Insurance Group 1-866-912-6926 ext. 41305 marcus.morson@cowangroup.ca 04

GLOBAL BENEFITS Synchronization The roadmap to global benefits synchronization can be a complex and ever-changing one. As a Canadian human resources professional with global responsibilities, have you ever found yourself wishing for a GPS with push notifications for global benefits? Having a clear understanding of programs that are offered in foreign countries—as well as of differing social expectations and customs—can play a significant role when deciding on which benefits to offer to employees. What’s considered to be “the norm” can vary significantly from country to country. The difference between the United States and Canada in hospital care and general practitioner (Family Doctor) visits is a classic example. In Canada, core medical services are covered under provincial healthcare. In the United States, however, they are not, and the costs can vary from a few hundred to a few thousand dollars depending on the procedure. The difference in cultural understanding relating to acceptable timeframes and implementation practices is another area where expectations can vary. This can be as simple as understanding the impact of time zone differences. For example, emailing a claim question at 11AM EST to your benefits administrator in the United Kingdom and requesting a response by “the end of business day” is unrealistic and unclear. Your overseas counterpart has already left for the day and the insurance carrier is most likely closed. Or, perhaps you meant the end of their business day, after they’ve read your email—because that’s tomorrow. Benefit-for-benefit mirroring across borders often cannot be appropriately accommodated and can lose all meaning to the end user—or, the employee. For example, a Canadian benchmarked Life benefit may be 2 times annual earnings with robust Health and Dental offerings. In the United Kingdom, however, the best practice for that same industry may be a Life benefit at 4 times annual earnings, with minimal Health and Dental coverage. That’s because a higher value is placed on Life and Disability due to the richness of the National Health System (NHS), the social program in the United Kingdom. In the manufacturing sector in Mexico, however, a higher emphasis may be placed on fringe benefits, such as meal vouchers for commuting workers versus a vision benefit, and this could further translate to daycare vouchers in the United Kingdom or car allowances in Brazil. 05

Are your benefits getting lost in translation?

Setting your global benefits GPS Any effort made to equalize benefits by effectively translating the employee needs across borders and culture, while maintaining the corporate philosophy, will help foster the respect of employees who work in countries outside of where corporate headquarters are located. Translation of core benefit offerings—understanding the percentile offering versus the actual offering—is often a starting point for conversation with global headquarters. As an employer, what do you want to offer your employees in the way of benefits? In comparison to other

employers in the region, in which percentile would you like your plan to fall? It is essential to take into consideration all government social schemes, cultural norms and best practices. A global benefits professional is your GPS guide to local expertise in the foreign countries where your employees and resources are located and—ensuring that your global benefits journey is a smooth one. The Williamson Group and Cowan Insurance Group can provide the necessary expertise required to roadmap your benefits journey while taking into consideration the full global needs of your organization. 

We make the global market local by assisting employers with coverage for: INPATRIOTS (INPATS) Any incoming, non- citizen of the host country arriving for work or student purposes. EXPATRIOTS (EXPATS) A person temporarily or permanently residing as an immigrant in a country other than that of their citizenship. LOCAL NATIONALS An employee working for a company located in the country of which they are a citizen; for example, a Canadian working for a Canadian company or the Canadian Parent. THIRD COUNTRY NATIONALS (TCN's) An employee who is not a citizen of the home or host countries; for example, a French National working in the Hong Kong subsidiary of a US company would be considered a TCN employee.

CONTRIBUTOR Jacquie Fritsch Global Benefits Consultant The Williamson Group 1-800-265-9973 ext. 238 jfritsch@williamsongroup.com 06

PHARMACOGENETICS

Each of us is born with unique and complex genetic characteristics that we equate with differences in eye colour or the likelihood of developing certain diseases and disorders. But did you know that genetics can also affect the way in which we respond to some of the most commonly prescribed medications?

Making medicine Personal

Over 75 percent of us carry genetic variations that will influence how we metabolize drugs. These variations not only affect how we respond to prescribed medications, but they can also interact with over-the-counter medicines and supplements, as well as with recreational drugs like marijuana. A drug that works well for one person may be ineffective for another; similarly, one person could have significant side effects to a drug while the other will experience nothing.

Drug-related side effects can be serious or life-threateningâ&#x20AC;&#x201D;even when a drug has been prescribed by a physician and consumed correctly by the patient. To further complicate matters, individuals who take multiple medications face an increased risk of drug interaction, especially if they are over the age of 65. Every year, millions of people are admitted to hospital as a result of serious reactions to prescribed medications, making drug-related side effects the fourth leading cause of death in North America. Getting the right drug to the right person is critical, and pharmacogenetics is getting a lot of attention. Pharmacogenetics can determine in advance how well a patient will respond to a medication and whether they will need more or less of it to avoid potential side effects.

phar·ma·co·ge·net·ics The study of inherited genetic differences in drug metabolic pathways that can affect individual responses to drugs, both in terms of therapeutic effect as well as adverse effects.

PHARMAGOGENETICS 101 Wikipedia defines pharmacogenetics as the study of inherited genetic differences in drug metabolic pathways that can affect individual responses to drugs, both in terms of therapeutic effect as well as adverse effects. Pharmacogenetics is not new. It dates back to 1957 when geneticist Arno Motulsky of the University of Washington published a report on negative drug responses in certain patients, based on their genetics. Since then, the number of genetic variants found to influence drug responses has steadily increased. Pharmacogenetics is drug therapy tailored to an individual’s unique genetic makeup. By studying DNA, pharmacogenetics determines genetic variations that can predict how a person will respond to medication. If someone is a fast metabolizer, they may need a higher, or more frequent, dose of a given drug. Conversely, a slow metabolizer may need a lower dose of medication to prevent an overdose. Test results can be utilized to identify ineffective medications or those that would result in side effects. The testing process in pharmacogenetics is fairly simple. Non-invasive cheek swabs containing DNA are taken and sent to a laboratory for analysis. Results average a one to two-week turnaround and give prescribing physicians the capability to determine the most effective course of medication and dosage for their patients. The adoption rate of pharmacogenetics has been profound, and the number of labs that offer these tests has increased over the past two years. Pharmacogenetic testing should not be confused with the personal genetic tests that are promoted directly via media advertising. These tests partially sample DNA to determine an individual’s risk for developing specific genetic disorders and illnesses. The

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results are often provided to customers without guidance or interpretation from a healthcare provider, and consumers run the risk of making important decisions about treatment or prevention based on inaccurate, incomplete, or misunderstood information.

CONFIDENTIALITY CONCERNS While genetic testing can significantly improve treatment strategies, it also raises issues for plan sponsors and members if it is paid for by the workplace. How should you implement it effectively? What about privacy concerns? In Canada, there is currently no legislation that explicitly protects the privacy of personal genetic information. In fact, Canada is the only G7 country without any such law to protect its citizens. Bill S-201, the Genetic NonDiscrimination Act, was introduced to the Senate Committee in June 2014 and given a first reading in the House of Commons in May 2016. The legislation proposes changes to the Canada Labour Code prohibiting the collection of genetic testing information about an individual who has been tested without prior written consent. Opponents to this act argue that employers and insurance companies could potentially use genetic test results in a discriminatory manner. Keeping this in mind, any future use of pharmacogenetics in the workplace will need to encompass employee/ dependent education to ensure their understanding of the intent and value of genetic testing. Tests will need to be performed with voluntary written consent from the employee, and mandatory testing should not be allowed. Pharmacogenetics is becoming a standard of care for the prescription of certain drugs, allowing medical treatments to continuously shift from a “one size fits all” approach to a more personalized one. 

CONTRIBUTOR Carol Parsons

Senior Consultant, National Benefits Cowan Insurance Group 1-866-912-6926 ext. 51413 carol.parsons@cowangroup.ca

FLEX t h e c h a n g i n g f a c e o f FLEX b e n e f i t s

Finding talented employees has never been an easy task. Today, organizations are competing to draw potential employees from an ever-shifting, multi-generational workforce. An increasing number of companies now look towards non-traditional and voluntary benefits as a means of offering flexible and attractive benefits to entice and retain top talent. According to a recent Sun Life Financial survey, only 37 percent of plan members said their benefits plan fully met their needs. The lowest scores were among Gen Z at 26 percent and Boomers at 32 percent. Surveyed plan members ranked “increasing the value of coverage” and “providing greater flexibility in choosing what to cover” as top priorities. Flex benefits may be increasingly popular with plan sponsors, but not in the traditional sense that they once were. Until recently, the majority of flexible benefits programs offered employees a choice from a menu of benefits that enhanced a core benefit and/or included a Health Care Spending Account. Often this meant a cumbersome annual enrollment and ongoing administration for employers—which limited the access to this type of offering to larger employers who could manage the administration or pay for outsourcing. In contrast, voluntary benefits and perk programs, as well as wellness programs that focus on physical, mental, and financial health, are becoming a popular way to improve flexibility and boost employee appreciation of their overall total compensation. These programs are easily administered and often come with digital onboarding and communication support from the provider, allowing more employers to expand their benefit programs without added cost or increased administration. Voluntary benefits—critical illness, long-term care, group home and auto, as well as pet insurance— often have no additional cost

to employers. The very act of sponsoring these programs at a discount to employees is viewed as the benefit. Some employers have offered perks that include employee discount programs, free parking, car allowances, and even concierge services to increase flexibility and remain competitive. Taking it a step further, companies like Vancouverbased BuildDirect Technologies Inc. have offered an unlimited vacation policy, adding value to employee appreciation. According to Jeff Booth, CEO and co-founder, “When you trust people, they tend to trust you right back.” Wellness has historically focused on the physical aspects of health, such as occupational health and safety. Employee assistance programs are common, but they are no longer enough. Recent campaigns such as “Not Myself Today” and “Bell Let’s Talk” have increased awareness of mental health in an attempt to lower associated stigma. An increased focus on mental health is reflected in the current benefits program offered by Starbucks Canada, who recently announced they were increasing their mental health benefits to $5,000 per year. Both Sun Life Financial and Manulife have made changes to their employee flex programs, increasing mental health coverage to upwards of $12,000 annually, depending on the flex option selected. Wellness programs have expanded from the traditional sense to include a greater focus on mental health, gym membership discounts, taxable spending accounts, and employee incentives for healthy habits and behaviors—including the completion of health risk

assessments, participation in challenges, physical and sleep activity monitoring, and volunteerism. Organizations are also becoming more aware of the importance of their employees’ financial well-being. Return on investment is no longer the main focus; today it’s the “Value of Caring”—creating a healthy workplace culture that has the greatest impact on employee appreciation. Gen Z and Millennials are beginning to dominate the workforce and both generations rank mental health as the most important aspect of well-being, according to Sun Life. By 2025, it is estimated that these two generations will make up three-quarters of the working population globally. The needs of your employees will continue to evolve and change throughout their life stages. The most forward-thinking and innovative employers will keep the shifting needs of their current and future workforce in mind when implementing flexible and meaningful total-rewards packages that retain the best employees. Be sure to talk to your benefits consultant about how you can begin planning for the future needs of your employees, today. 

CONTRIBUTOR Lee Ann Birch

Principal Consultant, National Benefits The Williamson Group 1-800-265-9973 ext. 271 lbirch@williamsongroup.com

Are your employees

Financially Literate?

CONSIDER THE FOLLOWING RECENT STATISTICS:

The ratio of debt to disposable income in Canada is higher than in any other G7 country1 Less than half of Canadians maintain a household budget2 40%

Only 40 percent of Canadians feel knowledgeable about their finances2

Employee wellness plans have traditionally focused on physical and mental well-being, but organizations are beginning to recognize the important role that financial well-being can also play in an employee’s overall health. As defined contribution (DC) plans and group registered retirement savings plans (GRRSP) continue to grow in popularity as workplace savings vehicles, employees are being asked to shoulder an increasing amount of responsibility for the success of their retirement investments. Between juggling daily personal finances and making decisions related to future financial security, is it any surprise that 42 percent of working Canadians say they are distracted at work due to financial worries?3 Poor financial well-being causes stress that negatively impacts our physical and mental health which, in turn, affects workplace productivity. A Sun Life Financial study found that people who were experiencing financial stress had higher blood

FINANCIAL WELL-BEING • Consumer Financial Protection Bureau: A state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow them to enjoy life. • Barclays: Being and feeling financially healthy and secure, today and for the future.

pressure. They were also eleven times more likely to report back pain and were more prone to antidepressant use. In fact, the financially unprepared, themselves, admit they are 16 percent less productive on the job.3 INTRODUCING THE COWAN FINANCIAL LITERACY INDEX So how can you help? A useful area of focus that employers may wish to consider is increasing employee financial literacy. Cowan Insurance Group has developed a Financial Literacy Tool—seven questions related to investments and financial planning—that can assist organizations in gauging levels of employee financial literacy.

FINANCIAL LITERACY • Wikipedia: The set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. • Financial Consumer Agency of Canada: Having the knowledge, skills and confidence to make responsible financial decisions.

Data from the survey will be useful when working with your Cowan consultant to: • Develop comprehensive communication strategies • Plan targeted educational programs • Assist in effective plan design • Shape your investment line-up offerings Your organization’s index scores can also be benchmarked against the broader database. Changes in scores will help measure the value of investment relative to any strategies that have been implemented. The Cowan Financial Literacy Index is slated for release during the second quarter of 2017. For more information, please speak with your consultant. 

CONTRIBUTOR Teresa Norris-Lue National VP, Pension & Retirement Consulting Cowan Insurance Group 1-866-912-6926 ext. 51304 teresa.norris-lue@cowangroup.ca

1) http://business.financialpost.com/investing/outlook-2016/canadians-household-debt-highest-in-g7-with-crunch-on-brink-of-historic-levels-pbo-warns, Statistics Canada, Current and Capital Accounts 2) Statistics Canada, Canadian Financial Capabilities Survey 3) Manulife/Ipso Reid Health and Wealth—Wellness Study

Tackling lifestyle chronic diseases such as type 2 diabetes, heart disease, and obesity through

Sleep Deprivation

in the nutrition programs is workplace becoming more commonplace. workplace exercise and

Eating a healthy, well balanced diet and getting the recommended 150 minutes of moderate to vigorous activity weekly play a key role in reducing the risks of chronic disease, but there is another key ingredientâ&#x20AC;&#x201D; sleep! This essential pillar of health is often overlooked in wellness programming and is crucial for overall health and productivity.

Are your employees getting enough

Adults require seven to eight hours of sleep every day on average, yet the 2016 Canadian Sleep Review found that almost three-quarters of Canadians get less than seven hours of sleep nightly. It seems that we remember to recharge our smartphones and other electronic devices on a daily basis, often forgetting that our bodies also need a daily boost.

Adults require seven to eight hours of sleep every day on average, yet the 2016 Canadian Sleep Review found

Sleep aids in healing, allowing the body’s cells to repair. Research has shown that chronic sleep deprivation—defined as anything less than six hours per night— is linked to an increased risk of type 2 diabetes, obesity, heart disease, memory loss, and mental illness. But aside from these inherent health risks, sleep deprivation can also have a significant detrimental effect on your company’s bottom line. The lost productivity that results from fatigued employees costs Canadian employers an estimated $330 million annually. Statistics also suggest that one in four workers call in sick just to catch up on sleep and that the average employee loses eleven days of productivity anually due to insomnia. After two weeks at less than six hours of sleep per night, an employee’s performance is equivalent to someone who has gone 48 hours with no sleep. Poor quality sleep leads to reduced creativity and problem solving, as well as increased errors, conflicts, workplace accidents, and injuries.

that almost three-quarters of Canadians get less than seven hours of sleep nightly.

Other ways you can incorporate sleep health into your well-being program: Providing sleep hygiene education and sleep-disorder screening clinics.

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Allowing for flex time where possible to give employees the ability to better manage work, family and personal obligations.

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Creating bright work spaces that allow sufficient natural light.

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Installing nap rooms—studies show that short naps can boost creativity, enhance productivity, and increase alertness by up to 30 percent.

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Hiring temporary help during peak workload periods to allow for a regular work schedule and to avoid overtime burnout.

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Implementing structured fatigue management policies, especially for safety-sensitive roles.

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Shy of tucking your employees in at night, what can you do as an employer to encourage healthy sleep hygiene? The blue light emitted from electronic devices has been found to impact melatonin production and interrupt the body’s natural sleep patterns. Encourage your employees to “power down” at night and implement workplace policies that include an email “black out” period in the evenings.

Offering employees the opportunity to recharge for 20 minutes in a tranquil nap pod in lieu of the regular coffee or calorie-filled latte to combat the midafternoon energy slump.

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With a little bit of creativity and encouragement you can have a positive impact on the health and well-being of your employees as well as on your organization’s bottom line—and that should ensure a good night’s rest for everyone. 

CONTRIBUTOR Lianne Clarke

Senior Consultant, Health, Disability & Wellness The Williamson Group 1-800-265-9973 ext. 319 lclarke@williamsongroup.com 14

Spotlight was created to provide meaningful information and insights into industry trends and developments. To help us deliver the information you need, we would appreciate your comments and suggestions. Please provide us with your feedback by completing a three-minute survey you will find here: www.cowangroup.ca/newsletter

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For more information or to learn more about Cowan's customized, flexible and innovative approach to group benefits, retirement and wellness programs contact: Cowan Insurance Group 705 Fountain Street North Cambridge, ON N1R 5T2 @CowanInsurance

Phone: 519-650-6360 Email: cambridge@cowangroup.ca Toll-Free: 1-866-91COWAN

Legal Information Spotlight is provided for general information purposed only. Cowan Insurance Group and its affiliates make no representations or warranties to its accuracy or completeness. Readers should be aware that the content of this publication should not be regarded as legal, tax, accounting, investment, financial or other professional advice nor is it intended for such use.