Employees, employers living different recession realities according to health survey

Toronto, July 16, 2009 – Canadian employees and employers have completely different perceptions and opinions about the effects of the current recession on their work and personal lives, according to the 2009 Desjardins Financial Security Health Survey. The purpose of this year's health survey, which took place earlier this spring, was to measure the effects of the recession on employees and employers across Canada.

Expected recession duration: employees are more pessimistic

One key difference between the two is their opinion of the recession duration. Employees are more pessimistic, saying that the recession will last 21 months (an average of 1.78 years). Employers on the other hand are more optimistic with 53.1 per cent saying that the recession will last one year or less (an average of 1.49 years).

"Actually, the worst part of the Canadian recession occurred in the first quarter of 2009. In January, people were talking about a potential world-wide depression when the country posted the biggest employment decline in since 1976," said Yves St-Maurice, Deputy Chief Economist with Desjardins Group. "However, the eye of the storm is now behind us and the Canadian economy will bottom out this fall when the recovery will begin. However, it won't be until the fall of 2010 when we'll see the start of a true expansion phase when production will return to pre-recession levels. The recession will then have lasted about one year."

Employees worried about losing their jobs

Employers were asked what further improvements they would consider, 19.3 per cent would increase sales, 9 per cent would provide job stability and 7 per cent would ensure the business' economic recovery. When asked the same question, employees' want job security, increased business and management support. In fact, 43 per cent of employees are worried about losing their jobs and many believe that employers are using the recession as an excuse to cut staff. Ironically, 70 per cent of employers are increasing their workforces. Also, 70 per cent of employers have improved benefits (a priority for only 5 per cent of employees), 64 per cent have communicated the business implications of the recession to staff and 29 per cent have supported employees who were dramatically impacted by the recession (a priority for only 5 per cent of employees).

Employers concerned about the recession's affect on employees' health

When asked whether the recession has negatively affected workers' work/life balance, both groups agreed. One quarter of employees and 37 per cent of employers also agreed that the recession has negatively affected employees' physical health. When asked if the recession has had an affect on staff's mental health, 35 per cent of employees and 63 per cent of employers said yes. Employees' stress levels was found to be another factor in their declining health, as 35 per cent said they are experiencing higher stress this year compared to last.

Work environment: opposite views

When it comes to the current work environment since the start of the recession, employees and employers have completely different perceptions. Close to a quarter of employees said that their environments have become more negative while 73 per cent of employers said that theirs have become more positive.

"What's evident in these results is that a clear and open dialogue is urgently needed between employers and their staff, but not just during difficult times," said Dr. Taylor Alexander, CEO of the Canadian Mental Health Association, National Office. "Of course, we believe that both groups are responsible for managing their own mental and physical health. But, employers must also help create a mentally-healthy workplace for their staff. Leadership on this issue starts at the top. For example, we encourage bosses to keep the lines of communication open with tools like employee surveys and bi-monthly staff meetings. These are inexpensive aids that will help keep employees engaged, empowered and supported."

About the 2009 Health Survey

SOM Surveys, Opinion Polls and Marketing conducted the survey on behalf of Desjardins Financial Security. The web-based employee survey was conducted between March 30 and April 15, 2009. In total, 1,062 interviews were completed with a sample of Canadian workers who work for a company or organization with at least 10 employees. The telephone-based employer survey was conducted between May 5 and May 22, 2009. In all, 381 interviews were tabulated with a sample of Canadian private companies or organizations with at least 10 employees and that offer group benefits (group insurance and/or group retirement or savings plans) to their employees. The data was weighted to reflect the distribution of the Canadian organizations with a staff of at least 10 in terms of the country’s main regions (Atlantic Provinces, Québec, Ontario, the Prairies, and British Columbia), while taking into account the number of non-eligible respondents.

About Desjardins Financial Security

Desjardins Financial Security, a subsidiary of Desjardins Group, the largest integrated cooperative financial group in Canada, specializes in providing life insurance, health insurance and retirement savings products to individuals and groups. Every day, over five million Canadians rely on Desjardins Financial Security to ensure their financial security. Desjardins Financial Security employs 3,800 people and administers $19.7 billion in assets from offices in several cities across the country, including Vancouver, Calgary, Winnipeg, Toronto, Ottawa, Montréal, Québec, Lévis, Halifax and St. John's. For more information please visit http://www.dfs.ca. For more information about the health survey, visit: www.healthiscool.ca.

About the Canadian Mental Health Association

The Canadian Mental Health Association, National Office is a leading national voluntary organization within the mental health sector. For more than 90 years, it has existed to promote the mental health of all people in Canada and to serve mental health consumers, their families and friends through education, public awareness, research, advocacy and direct services. In addition to its National office, the CMHA has 11 provincial and territorial Divisions and some 135 Branches and Regions in communities across Canada. To find more information about mental health, visit www.cmha.ca.

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For more information or to arrange an interview, contact:
Sarah Twomey
Desjardins Financial Security
Tel: 416-926-2700
Toll free: 1-877-906-5551, ext. 2015
Virtual newsroom: http://www.desjardinsfinancialsecurity.com/press