An effective tool or "dead dollars"?

Leveraging pension plans in the war for talent
By Patrick Longhurst
|Canadian HR Reporter|Last Updated: 09/05/2003

Someone I know recently commented, “Quite honestly, I don’t see pensions as being strategic. I cannot see that they play a major role in attracting or retaining the type of people we need for the future.”

Pensions not strategic? Not an effective tool for attracting and retaining key talent? The question made me wonder whether the money spent on pension plans was just “dead dollars,” some leftover from a paternalistic past. Or is there a real role for these plans in supporting corporate business plans?

In today’s economy there’s a supply and demand problem when it comes to key employees. This situation is compounded when the talent pool is shrinking due to demographic factors such as decreasing birth rates, stagnant immigration levels of skilled workers, and an aging population.