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Canadian Subs and Their U.S. Parents: Family Counseling
Until recently, as long as the operation was profitable, many HR departments of Canadian subsidiaries have been given considerable autonomy by their U.S. parents. With shrinking corporate earnings over the last several years, numerous parent companies have instructed their Canadian subsidiaries to reduce overhead. Employment costs have been an obvious target in the quest for global efficiency.
Case Study: Developing a Cost Effective “New Deal”
Recently the Canadian subsidiary of an integrated high tech company (Tech Co.) with its head office in the United States retained Watson Wyatt to help them reduce overall employment costs and slow the rate of cost increases. Although cost reduction was critical, it was essential that the “new deal” continue to be attractive to active employees, prospective new hires and the growing pool of retirees.
Benefits Outsourcing: A Cross-border Comparison
Watson Wyatt research in Canada and in the U.S. reveals that there is growing interest in using outside vendors for some human resources functions but total outsourcing of all benefit administration functions is not pervasive. And contrary to popular belief, an outsourcing arrangement does not always deliver lower costs.
Pension Fund Investment: The Canadian Climate
For U.S. parents of Canadian subsidiaries, it is particularly important to understand the Canadian investment climate, including its regulatory requirements and typical investment practices.
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