In an exclusive interview with CanadianSME Small Business Magazine, Heather Haslam, Vice President of Marketing at ADP Canada, sheds light on the evolving workplace landscape and the rising importance of employee well-being. With over 25 years of experience in the Canadian tech sector, Heather shares insights from ADP’s November 2024 Happiness@Work Index, addressing the financial stress employees face during the holiday season and how businesses can adapt to foster productivity and growth.
From flexible benefits to financial wellness programs, Heather highlights practical strategies that not only support employee mental health but also drive business success. As gig work gains momentum across Canada, she offers valuable advice for traditional employers seeking to remain competitive in attracting and retaining top talent. Heather’s leadership and passion for mental health advocacy position her as a driving force behind workplace innovation and employee engagement in today’s dynamic market.
Heather Haslam, Vice President of Marketing at ADP Canada shares key insights from ADP’s November 2024 Happiness@Work Index, highlighting how rising employee happiness during the holidays is tempered by financial stress. In this interview, Heather discusses the impact of gig work, the importance of financial wellness programs, and how employers can foster productivity and retention by addressing employee well-being.
Heather leads the ADP Canada Marketing mandate to support businesses across all segments in Canada. In her role, Heather provides strategic direction for Marketing planning including product marketing, campaign management, demand generation and branding.
Heather has more than 25 years of experience in the Canadian technology Market. She is a proven, accomplished and dynamic leader specializing in motivating people for change and increased productivity with successes across Marketing, Sales Channel Development, Product Management, and Mergers & Acquisitions.
Heather holds a degree in Psychology, a Masters of Business Admin from the Ivey School of Business, and has dedicated her free time to volunteering with a variety of mental health-related causes. Heather is currently serving as the Chair of the Board for The Institute for Advancements in Mental Health.
Can you explain the key findings from ADP’s November Happiness@Work Index, particularly the impact of financial stress on employees during the holiday season?
The November edition of ADP Canada’s Happiness@Work Index reveals several key findings:
Slight Increase in Worker Happiness: The National Work Happiness Score for November 2024 is 6.7/10, a 0.1-point increase from October. This uptick is attributed to the approaching holiday season, which generally boosts worker morale.
Financial Stress and Gig Work: Despite the increase in happiness, financial stress remains a significant concern. About 31% of workers in Canada rely on gig work to cover regular expenses like daily living costs and bills. This could indicate that many employees might be turning to temporary or freelance work to help manage their finances.
Generational and Regional Differences: Boomers (59+) continue to be the happiest generation with a score of 7.2/10, while Gen-Z (18-26) shows significant growth in sentiment, scoring 7.0/10. Regionally, Atlantic Canada is the happiest with a score of 7.0/10, while Alberta remains the least happy at 6.4/10.
Impact of Holiday Spending: The report highlights that the cost of living and holiday spending pressures could be contributing to financial stress. Employers can support employees through resources like flexible benefits, financial wellness programs, and budgeting tools.
Overall, while the holiday season brings a boost in happiness, financial stress due to rising living costs and holiday expenses remains a challenge for many workers.
How does employee financial stress correlate with productivity and overall business growth, and why should employers take action now?
Financial stress can have impacts on employee mental health. Employers can prioritize mental health at work through a variety of benefits from workplace flexibility to mental health counseling, in addition to financial literacy resources that help workers stay on top of their finances. When employees have peace of mind on things including their finances, they can fully engage with their priorities at work. Building a fully engaged workforce can then lead to higher productivity, which can catalyze business growth.
What flexible benefits, financial wellness programs, and budgeting tools would you recommend for employers to help alleviate financial stress for their employees?
Offering a Registered Retirement Savings Plan (RRSP) is another fantastic way to help boost financial security and reduce stress, while also helping make your company more attractive to talent.
Lifestyle Spending Accounts (LSAs) are also a great option—they’re customizable, post-tax accounts that can cover a range of expenses like childcare and eldercare, easing financial pressure.
Employee Assistance Programs (EAPs) provide confidential support for work, health, or life concerns, which can be a huge help in managing stress.
Tuition assistance programs can help employees cover education costs, reducing financial stress and supporting their career growth. Incorporating these benefits can help employers create a more productive and engaged workforce.
Financial literacy can help employees understand the value of savings and provides increased control and confidence over financial health.
Understanding career development opportunities and the associated training and skills required to progress help employees see the path to increased impact and financial reward.
The report highlights a rise in gig work in Canada. What does this mean for traditional employers, and how can they adapt their strategies to remain competitive in attracting and retaining talent?
The rise in gig work presents an opportunity for traditional employers to rethink their talent strategy. Gig work offers great flexibility, allowing workers to choose when, where, and how they work, which is highly attractive to many. However, this flexibility often comes at the cost of stability and benefits that traditional jobs provide. 31% of workers in Canada rely partially on gig work to help cover regular expenses, such as daily living costs and bills. For traditional employers, this means they need to rethink their strategies to remain competitive in attracting and retaining talent.
To adapt, employers can consider offering flexible work arrangements, enhanced benefits packages, while also focusing on skills development, promoting work-life balance and fostering a positive work culture. Employers can also encourage workers in Canada to take their allotted vacation and to disconnect when they do. Employers can help by ensuring coverage exists, that there isn’t any stigma associated to taking a break, and to have leaders role model taking vacation. Many factors go into a positive work culture beyond just fair pay and a thorough compensation program.
ADP’s 2025 HR Trends Guide shows that many of these talent measures will be top priorities for employers going in 2025. Specifically, enhancing the employee experience employee well-being, and training and skills-development are prime concerns for employers next year as they navigate significant shifts across talent, compliance and technology.
