The latest Randstad Labor Barometer - which collected data in 34 countries - shows that while most respondents are resilient, they are also concerned about the uncertainty surrounding the pandemic and their future.

Great emotional support of the employees

Worldwide, a clear majority (71 %) feel emotionally supported by their employer during the pandemic. In contrast, only 66 % of employees in Switzerland say that they receive emotional support from their company. Taco de Vries, CEO Randstad (Switzerland) AG, sees two main reasons for this result: "On the one hand, employers in Switzerland probably play a much less central role in the lives of employees than, for example, in the Asian region. On the other hand, it seems to me that the emotional attachment to the employer is deeper in stable labor markets than in uncertain markets."

In just one year, the balance of power has shifted from workers who had low unemployment rates prior to COVID-19 to employers who now have a larger pool of active job seekers to choose from. Even among those who currently have a job, there is concern about being laid off. These fears are not likely to go away anytime soon. Many of the problems disrupting the global labor market will remain for months to come as the global economy tries to recover during an uncertain time.

Ability to adapt to digitization is not a question of technology

Globally, 79 % of employees feel that they have the necessary equipment and technology to adapt to digitization. In Switzerland, this figure is only slightly lower at 77 %. At the same time, however, a global average of 40 % say they have difficulty learning the skills required in this new digital age. Employees in Switzerland find this somewhat easier. Only 36 % say they have difficulty learning new, digital skills.

The rapid introduction of new technologies has led to employees becoming more concerned about their employability. This - along with the pandemic - is another important reason why job security is top of mind for many. In order to remain employed in their company, 30 % worldwide say they would be willing to accept a different role in the company. In Switzerland, the number is as high as 33 % who would be willing to accept a new orientation within the company. A reorientation within the company is the preferred option for employees in Europe in order to secure their jobs, followed by a temporary reduction in working hours. Employees outside Europe, on the other hand, show a greater willingness to work more without a salary increase.

Requirement for jobs according to COVID-19

While job security is undoubtedly important during Corona, Randstad's data interestingly shows that workers are not overly concerned about their jobs in the future. That's because only one-third of respondents said they wanted more job security after the pandemic.

Many workers believe that companies may still struggle to find the right talent, even in times of higher unemployment. What is certain is that many of the skills that companies needed before the pandemic are still in high demand. Some talents will become even more important because of the digitalization accelerated by the pandemic.

Source: Randstad

Just under a year ago, in July 2020, the first Future Work Barometer benchmark measurement was available. A survey conducted by the Future Work Group GmbH short study conducted at regular intervals in collaboration with the FHNW School of Business and ORGANISATOR. The intention behind this is to make it possible to understand the development in companies with regard to the digitalization of their working environment since the beginning of the pandemic. Now the measurement carried out in April 2021 has been evaluated, in which 272 companies participated. The Future Work Barometer is based on the major Swiss study published jointly by the Future Work Group and the FHNW in the fall of 2019. "Working world 4.0".

Investments in the working world 4.0 reach record levels

With percentage increases of 10 to 20 %, investments in the three dimensions show peak values in the FW Barometer 2021-1. Looking at the time series of the three short studies conducted since July 2020, it is apparent that companies are gradually reaching a level of maturity that indicates the sustainable design of a modern working world in which the home office or blended working plays a central role. More than half of the companies surveyed said they planned to invest in technology (52 percent), work location (59 percent), but only 39 percent in the "people" area. However, this figure is higher than a year ago (July 2020: 32 percent).

Potential that has not yet been tapped is specifically classified in the areas of holistic working environment strategies, forms of work, work processes, IT data security, leadership style and personal competencies.

Future Work Barometer whitepaper and webinar

The Future Work Barometer shows that Covid-19 can help implement Working World 4.0 quickly and successfully. In order to give companies even more practical support in this, there is on the one hand a White Paper with the summarized results is now available free of charge. On the other hand, a webinar will be offered on Thursday, June 24, 2021 from 5:30 p.m. - 7:30 p.m. on the topic "How companies plan for the phase after Covid-19." Participants will learn even more about the creation and implementation of a Working World 4.0 strategy. Information including registration is available here: Working World 4.0: How companies are planning for the post-Covid-19 phase Tickets, Thu, 06/24/2021 at 17:30 | Eventbrite.

Analogous to the previous year, the Annual General Meeting of Bank WIR was held by written ballot. The purely Swiss cooperative bank was able to increase lending volume, customer deposits and profit in the 2020 financial year. At the written general meeting, the cooperative members approved the management report and the annual financial statements, which show a profit of 14.4 million Swiss francs. "Our company is in good health and has a strong capital base," summarized Karin Zahnd Cadoux, Chairman of the Board of Directors. "We exceed the regulatory requirements by far," Zahnd Cadoux continued. The Board of Directors and the Executive Committee were discharged by a large majority.

Dividend of 10.25 francs

The Annual General Meeting also approved the appropriation of profit and dividend proposed by the Board of Directors: The distribution of 10.25 Swiss francs per ordinary share will take the form of an optional dividend ("dividend with reinvestment" or cash dividend) and - calculated on the cash dividend variant - corresponds to a yield of 2.4 percent. If the ordinary shares are held as private assets, the distribution is tax-free. Last year, the share price increased by 8.4 percent (plus dividend payment) - and this year, too, investors seem to have confidence in the security, which is reflected in a further 7.2 percent increase in the share price.

Two new members of the Board of Directors

In the elections, the existing members of the Board of Directors were confirmed: Karin Zahnd Cadoux (Chairwoman), Marc Reimann, Kornel Tinguely and Germann Wiggli for a further two years, Petra Müller for a further year due to the limitation on terms of office. Georg Anthamatten and Jürgen Bletsch, who are retiring this year due to term limits, were replaced on the Board of Directors by Heinz Fuchs and Christoph Lenz. Heinz Fuchs (65) is a business economist and certified public accountant with a national and international network in the banking and finance industry. Christoph Lenz (42) is a qualified trustee and has been working in the real estate sector for 16 years.

Amendment to the Articles of Association for more flexibility

Furthermore, the Annual General Meeting approved, with the necessary two-thirds majority, an amendment to the Articles of Association that allows Bank WIR to introduce participation certificates. "This gives us additional flexibility," says CEO Bruno Stiegeler. "We will continue to seize our opportunities, especially with a view to cooperations and participations."

Source and further information: Bank WE

When it comes to events, there is a clear easing of the situation everywhere. Now the organizers of the IT trade fair topsoft can also hope that it will be held again. Last year the rigorous requirements put a spoke in the exhibition organizers' wheel. "We have been organizing the topsoft trade fair with great passion for many years; personal contact between visitors, speakers and exhibitors is the be-all and end-all - and neither Plexiglas nor face masks or distance rules fit in here," wrote the Topsoft organizers at the time.

Pause for thought used creatively

Today is completely different: "Finally holding a major live event again feels simply fantastic," says trade fair organizer Cyrill Schmid enthusiastically. For almost 30 years, the IT event had been a fixed date in the agenda of leading software vendors and system houses. "Last year's renunciation was not easy for us, although it was the right thing to do. We have used the prescribed pause for reflection creatively and have allowed new impulses to flow into the upcoming trade fair," Cyrill Schmid looks back on the past months. Everyone is clearly looking forward to the event in September. Another motivating factor is that around 60 inquiries have already been received from potential exhibitors.

Re-launch of the IT trade fair topsoft in the "new normal

Despite the positive response, the IT trade fair topsoft remains modest at the moment. The realistic goal is to attract around 50 exhibitors for the restart. "We all have to learn to find our way in the new normal. However, the restrictions of the last few months and the lack of personal contact opportunities have clearly shown how valuable and indispensable live events are," emphasizes topsoft marketing head Christian Bühlmann. The importance of digitalization has increased significantly, especially in recent months. Many SMEs have made concrete experiences with video calls and home office. The best way to find out which areas still have more digital potential is to visit topsoft 2021 live.

Source and further information: www.topsoft.ch

The new stock corporation law has been in force since the beginning of 2021. Among other things, it requires that both genders be represented by at least 30 percent on the boards of directors of listed companies and by at least 20 percent on executive boards. A total of around 200 companies are affected in Switzerland. If the gender benchmarks are not met, the companies concerned must state their reasons in the compensation report and explain what measures they intend to take to improve the situation. However, they do not have to fear any sanctions - and this is criticized in particular by feminists.

Ten largest companies with an exemplary function

But what is the actual situation regarding gender equality in listed Swiss companies? This has been investigated by the Diversity Report Switzerland, published for the second time. The full survey, published by GetDiversity GmbH with the support of EXPERTsuisse and the magazine Swiss Ladies Drive, compiled the composition of 231 executive boards and 7656 boards of directors.

This time, special attention was paid to Switzerland's ten largest companies, which, with a total of over one million employees, also serve as role models in terms of human resources policy. With over 30 % of women on the Board of Directors, over 20 % on the Executive Board and over 30 % among authorized signatories, Zurich Insurance Group tops the list of the top ten. Other top-ranked companies include UBS and Nestlé, also with 30 % women on their boards, and Lafarge Holcim, ABB and Roche, with over 20 % women on their executive boards. This means that all of them together are already close to the legal requirements.

Where the gender benchmarks are met

This compares with 83 of the 231 companies listed on Swiss stock exchanges (36 %) with all-male boards of directors, 134 (58 %) without a single woman on the executive board and 51 (22%) with no women at all as authorized signatories. So there is still work to be done for the 231 listed companies before they meet the legal requirements. The same applies to the entirety of the companies analyzed. Of the 7,656 stock corporations analyzed, 4,908 (64 %) have no women on their board of directors. On the positive side, however, 1,495 (20 %) of the companies already comply with the gender guidelines for boards of directors of listed companies.

It's not just about gender guidelines alone

However, the gender benchmarks do not only refer to the proportion of women on management boards and boards of directors. They also apply equally to men. Dr. Marius Klauser, Managing Director of EXPERTsuisse, makes this clear in an interview. The authors of the Diversity Report Switzerland, Esther-Mirjam de Boer and Carla Kaufmann, co-CEOs of GetDiversity, therefore want to counter the misconception that it is always just about promoting women. This association is committed as a know-how ecosystem for equal opportunities and equal rights for all gainfully employed talents in the working world on the basis of their abilities - regardless of gender.

Relying on talent - the Swiss "Diversity Champions

Among the stock corporations evaluated, there are already 267 "diversity champions". They seem to have long understood the principle of "talent before gender". This refers to companies that have a gender representation of 50 % women and 50 % men on the board of directors and among the authorized signatories, which is why the Diversity Report Switzerland 2021 designates them as "Diversity Champions". These companies include

than companies with over 500 employees:

• Peter Steiner Holding AG, Zurich,
• YX Magnetic SA, Sierre

as the oldest companies, registered in HR in 1883:

• Hotel Europe Davos AG, Davos,
• Effingermedien AG, Brugg

than companies with six female board members each and the largest board teams:

• Groupe Médical de Versoix SA, Versoix
• Valmont Group Holding SA, Geneva
• EF Education First AG, Zurich
• Montanstahl SA, Stabio
• Informaticon AG, Frutigen
• Alters- und Pflegezentrum Au AG, Steinenn

Diversity instead of inbreeding

What is the opposite of diversity? Or, put another way: Why these "pull-ups" for good mixing? Why does diversity make companies more competitive and resilient? "In nature, the answer is clear. Here, a lack of diversity is synonymous with monoculture and inbreeding - and that is not a sustainable state. Because it is well known that the exclusion of foreign genetic material makes people weak, short-lived and feeble-minded in the medium to long term," explains Esther-Mirjam de Boer.

According to a Harvard study, the 60-year lifespan of an S&P 500 company predicted as recently as the 1960s has been reduced to 18 years in the meantime. Is this the consequence of a lack of diversity? As de Boer puts it: "In recent decades, the templates for supposedly good employees have become extremely narrow, because people want to play it safe. As a result, many talents outside these standards fall through the cracks, which reduces diversity and promotes blind spots."

Source: GetDiversity GmbH

An unmistakable sign that the economy is picking up again: Companies are looking for workers again. According to the Michael Page Swiss Job Index, the number of advertised jobs increased by +7.9 % from April to May 2021 and by +17.8 % since January. This is the strongest monthly growth this year and exceeds the growth rates in the same period before the Corona crisis. Particularly strong demand for specialists in logistics, IT, engineering, facilities management, and the pharmaceutical industry is responsible for this record growth.

"This growth is particularly encouraging. According to our data, the number of jobs advertised before Corona often fell just before the summer vacations (between April and May)," explained Yannick Coulange, Managing Director at PageGroup Switzerland. "In addition, growth is proving consistent across Switzerland."

All regions reported positive growth. With +12.7 % and +26.4 %, respectively, Central Switzerland (LU, NW, OW, SZ, UR, ZG) recorded both the strongest monthly growth and record growth in the current year.

Source: Michael Page

Employees at small businesses across Europe fear they will have to return to the office by necessity because remote working will not allow them to adequately address customer experience and business growth. This finding was published by Ricoh Europe following a survey of more than 1400 office workers on the topic of hybrid working. Well over half (58 %) of respondents expect to work primarily in the office once Covid 19 restrictions are lifted. At the same time, they fear obstacles and bottlenecks in terms of dynamic working methods necessitated by constant changes in customer requirements, according to further findings from the survey.

Many outdated processes

Nearly half (45 %) of respondents say they would be more productive with less administrative overhead. Cumbersome, outdated work practices prevent small businesses from achieving better business results because their teams' capacity to upsell or create new business models is limited. In addition to these missed opportunities, creativity, motivation and job satisfaction are also hampered by the unavoidable processing of tedious routine tasks.

Workload is a key factor in the perception that a return to the office is inevitable. This is exacerbated by a lack of remote working tools for value-added activities and insufficient investment in automated processes. 40 % of workers have difficulty accessing data and information in enterprise systems when working remotely that would be needed to better serve customers. This leads to limitations in a typical identifier of small businesses: fast, convenient, and personalized service. The beneficiaries could be larger competitors, whose teams typically have straightforward access to all the data needed to optimize the customer experience.

More productive with remote or hybrid working

Half of respondents (51 %) believe that automated processes are indeed a way out. Not only would they add value to the work experience - they could also better retain salespeople and other top talent who often represent the company to the outside world. In fact, a quarter (25 %) of respondents are considering a move to an employer that better supports remote working. Automating central processes would also benefit initiatives to strengthen customer loyalty, and small businesses could raise their digital profile as a result.

David Mills, CEO of Ricoh Europe, explains: "Small businesses may lack the budget or even the need to completely refresh their technologies. But even moderate investments can have a significant and immediate impact - for example, the ability to access files remotely. Understandably, many small businesses do not have the skills needed to achieve critical cost savings through efficient process automation. Reliable support in this area could therefore provide the critical foundation for solid growth in the digital age."

Source: Ricoh

Authena, a Swiss startup based in Zug, fights counterfeiting, parallel imports and detour of e.g. pharmaceutical products worldwide. It is now a leading global provider of blockchain-based technology solutions for tracking supply chains and creating interactive end-to-end communication between manufacturers and end users. It uses so-called NFC transmitters, which act as an electronic seal. This allows manufacturers to guarantee the authenticity of their products and detect unauthorized interactions with their goods in real time.

Counterfeit products: A problem not only for consumer goods

Product counterfeiting is not only a problem for well-known brands of consumer goods - especially in the high-price segment. It is probably less well known that counterfeiting also affects the agricultural sector: "Worldwide, one in six products used on farms is counterfeit. In economic terms, the financial losses amount to as much as $10 billion," says Matteo Panzavolta, founder and CEO of Authena. Explaining how Authena's solution works, Panzavolta says, "Authena creates a digital copy individually for each product, which is stored in the blockchain and thus cannot be modified. Through end-to-end communication, manufacturers also get the opportunity to use their product as a communication tool and provide information via text, images, sound or video to end users. Our solution prevents fraud at all levels and makes a significant contribution to modern customer interaction."

Now Lonza Specialty Ingredients (LSI) has entered into a strategic partnership with Authena, in the area of crop protection products. For Andrew Thompson, Global Head of Crop Protection, LSI emphasizes that Authena has "what I consider to be the best anti-counterfeiting solution in the world."

Collaboration starts in Brazil

As a first step, Lonza Specialty Ingredients and Authena are focusing their collaboration on Brazil, where around one in four agricultural products is counterfeit. For this specific market, Andrew Thompson sees opportunities in various areas that will also be applied in other regions of the world: "In a first trial, we are equipping our products with interactive NFC tags. These allow our customers to check where the product comes from, how to use it, whether it has been opened or tampered with, where it is in the value chain and when it expires. At the same time, the data generated gives us a detailed listing of the complete inventory and the certainty that products are not on the shelf past their expiration date. On the one hand, this gives us planning security and, at the same time, the opportunity to communicate directly with our end customers and provide them with advice. In addition, Authena's technology gives us the opportunity to charge for products only when our customers actually use them. This enables us to introduce working capital reduction and optimization for our customers," says Andrew Thompson.

Rollout in Switzerland and Latin America

Matteo Panzavolta emphasizes: "The sum of our different service levels can be summarized as a holistic framework, in which case-specific and highly individual solutions can be bundled for the various demands of customers. Our goal is to revolutionize the way manufacturers protect their products, their reputation and, most importantly, their customers. That's why we are proud to work with Lonza Specialty Ingredients."

The partners intend to further expand their collaboration and develop the technology so that individual plants can be digitally connected directly to Lonza Specialty Ingredients. By automating processes, this will further improve response speed and reliability while increasing cost efficiency, they say. Following the trial in Brazil, Authena will develop customized applications for Lonza Specialty Ingredients throughout Latin America, Switzerland and other countries.

Source: Authena AG

In the first quarter of 2021, the Swiss Euler Hermes Export Forecast stands at 3.13 points, more than two points above the value of 0.78 points reported in January, thus reaching a new record high. Accordingly, a strong increase in Swiss exports can be expected in 2021. This steep upward trend is partly attributable to the low starting level of the prior-year months on the statistical side and the extremely dynamic economic developments in some regions in recent months, particularly in China and the USA, on the economic side.

The industry is also currently experiencing a pronounced boom phase, which the still disrupted supply chains are unable to cope with. This is according to the economic commentary by hpo forecasting for Q2 2021. Due to the Covid-19 distortions, i.e. the mix of lockdowns, gigantic fiscal stimuli and extremely expansive monetary policy, the downturn and upturn phases in industry have been proceeding as if in fast motion for more than a year, but all the more pronounced for it.

Starting signal for the resurrection of private consumption has been given

After a weak start to 2021 from an economic perspective, there has been movement in private consumption after Easter due to initial easing of the Corona restrictions. "In view of recent declines in new infections and good progress in the vaccination campaign, the economy should kick into turbo gear in the second half of the year. We expect a strong consumption boom fueled by pent-up demand in the context of declining economic uncertainty," said Katharina Utermöhl, European economist at Euler Hermes. Overall, Euler Hermes expects global trade volumes to increase by +7.9 percent this year and by a further +6 percent in 2022 (2020: -8.1 percent). The Swiss economy is expected to grow by +3.6 percent in 2021 and +3.0 percent in 2022 (2020: -2.9 percent) - thus reaching its pre-crisis level already in late summer 2021.

According to hpo forecasting, consumption has increased in the USA in particular, due to the progress made with the vaccination programs and the stimulus packages. hpo forecasting refers to statements made by various market observers, according to which many companies are having great difficulty in finding new employees, despite the continuing high level of unemployment in the USA. The additional USD 300 per week that the unemployed in the USA will receive until September 2021 would lead to the paradoxical situation that Americans in the low-wage sector earn more when they are unemployed than when they are working. In general, pandemic successes in developed countries are boosting consumer sentiment, according to hpo forecasting's economic commentary.

Boom phase: rising demand exacerbates supply bottlenecks

Swiss exports are benefiting from the global industrial upswing, writes Euler Hermes. However, the resulting high demand could exacerbate supply chain tensions due to restart problems on the supply side in the short term. These bottlenecks are serious in the semiconductor industry, for example, which affects the IT industry and the automotive sector, among others. The result will be price increases, especially for industrial metals and energy sources. Stefan Ruf, CEO of Euler Hermes Switzerland, comments: "The price of copper has doubled within a year. Freight prices for container exports are once again reaching record levels. These forces could dampen the boom somewhat. Besides inflation risks, COVID-19 remains in focus, or more precisely, the competition between vaccination campaigns and the impact of vaccines on the one hand and new COVID-19 variants on the other."

The experts of hpo forecasting point to another example: According to the online magazine "The Markt" (NZZ Group), many major buyers of semiconductors are currently ordering double to triple the quantities of semiconductors they actually need, so that their orders are given higher priority by the producers. At the same time, semiconductor manufacturers have been overdoing it in recent weeks with announcements of investments in the double-digit billion range to expand their production capacities. On the one hand, these investments are politically desired in order to reduce dependence on Asian manufacturers in particular; on the other hand, there is a threat of overcapacities in the medium term. For the time being, however, equipment manufacturers are looking forward to large orders.

Swiss exports exceed pre-Corona level

It seems that after the slump due to the Corona pandemic, a kind of boom phase is following. According to Euler Hermes, the recovery in Swiss foreign trade is continuing. In the first quarter of 2021, exports increased by 4.8 percent (seasonally adjusted) compared to the fourth quarter of 2020. Thanks to this third consecutive quarterly increase, exports again exceed the level seen before the outbreak of the Corona pandemic. Imports also grew by 1.7 percent compared to the final quarter of 2020. The trade balance closed with a surplus of CHF 11.3 billion. According to the Federal Customs Administration, more than half of the increase was in chemical-pharmaceutical products (+ 1.4 billion francs), with the highest growth in medicines (+ 1.2 billion francs). Exports of machinery and electronics, metals and watches also increased. At +4.0 percent (+ 5.3 billion Swiss francs), the latter are once again approaching their sales levels from the strong years of 2018/19. Regionally, Switzerland exported more to all three major economic areas in terms of value in the first quarter of 2021. In particular, exports to North America (+ 18.5 percent) increased compared to Europe (+ 4.6 percent) and Asia (+ 2.6).

Is the boom phase just a temporary phenomenon?

Business cycle analyses, such as those carried out by hpo forecasting, indicate a restrained development once the catch-up effects have faded. "According to our real economic business cycle observations, we are still very early in the downturn phase of the cycle, which did not peak in the industrialized countries (OECD) until the beginning of 2020," says the hpo economic commentary. Although all sentiment indicators are currently pointing sharply upwards, model calculations continue to indicate a longer phase of rather sluggish consumption after a short phase with catch-up effects, both in North America and Europe as well as in Asia.

Sources: Euler Hermes and hpo

If you're wondering how to increase your productivity (and hopefully you do on an ongoing basis), you'll probably fall back on tactical tips like most, such as setting clear goals, avoiding distractions, and more. These tips are definitely important, but they often come to naught if some foundations are not in place. What do I mean by that?

Increase productivity - change habits

Well, the application of measures to increase productivity almost always requires a change of habits. And these habit changes are always difficult when the foundations are not strong enough. So without these foundations, you consciously or unconsciously lower your productivity.

The three "prime suspects

Here are the three typical "suspects."

1. Too little sleep. It is a simple truth, scientifically proven many times over, that we are not fully capable if we do not have 7 to 8 hours of good sleep. Anything less is an illusion. The problem is that you can get by just fine with sleep deficits, but you will always be less productive than you would be with enough sleep.
2. Wrong food. What we physically let into our bodies largely determines our physical and mental performance. It's simple: eating light and healthy increases your productivity. You can take this into account in your eating decisions or ignore it. You also need to stay hydrated. Many leaders are downright dehydrated.
3. Unfavorable environment. Everything that happens in your environment has an impact on your performance. The environment is essentially determined by people, events and things. You can and must actively shape all three categories if you want to increase your productivity. The important thing is that you are in charge.

So, here you have three fundamental levers to bring your productivity up in a sustainable way. You can ignore them, but you will make it extremely difficult for yourself.

To the author:
Volkmar Völzke is a success maximizer. Book author. Consultant. Coach. Speaker. www.volkmarvoelzke.ch

They offer a wide range of solutions, make many jobs possible, are active in all sectors and at the same time form the backbone of the Swiss economy: SMEs. The corresponding pension fund solution should be as diverse and original as the Swiss SME landscape. That is why Tellco offers customized solutions that truly meet the needs and wishes of SMEs.

Occupational pension plan must be tailored to the company

Successful company management requires expertise, experience, passion and commitment in daily work. Moreover, anyone who wants to remain successful in the long term will not be satisfied with mediocrity and will continue to develop. Companies place the same demands on their occupational pension solution.

Tellco has geared itself to this: In the 2nd pillar, it offers special pension solutions that meet the needs of SMEs. The pension specialist has many years of experience, well-established processes and an agile organization. It can therefore offer companies a modern pension fund solution offer - with coherent risk tariffs and fair administrative costs.

For the company, safety is the top priority in occupational pension provision

Entrepreneurs bear a lot of responsibility. Their employees depend on the success of their company and want security.

Tellco supports them here: With a pension solution in the 2nd pillar that stands for security. It manages the assets of the affiliated companies with the utmost care. Tellco's specialists place a clear focus on the following when it comes to investing money Long-term and security. Smaller, secure profits are more important to the pension specialist than aiming for high short-term returns and risking large losses in the process.

Flexibility is a prerequisite in the 2nd pillar pension solution

Entrepreneurial activity requires a great deal of flexibility in a dynamic and complex market environment with constantly changing customer needs. Entrepreneurs also expect the same flexibility from their occupational pension plans.

Tellco meets this requirement with a pension solution that can be adapted to individual needs. The customers benefit from a pension solution that is individually expandable is and can grow flexibly with the company.

More information:
Tellco AG has its core competencies in the area of pension provision and assets. As an expert for holistic offerings, we place precisely these at the center of our work. We offer services and expertise from a single source in the three business areas of occupational pensions, private pensions, and money and assets.

Tellco AG
Bahnhofstrasse 4
6431 Schwyz
t +41 58 442 20 00
vorsorge@tellco.ch
tellco.ch/kmu

The Corona pandemic does not seem to have harmed pension assets - on the contrary. A survey we conducted among the most important semi-autonomous pension funds and full insurers shows a positive overall picture: When asked about the effects of the corona pandemic on performances and investment strategies, the answers were more or less unanimous: There were hardly any. Simon Herzer from the Gemini Collective Foundation wrote: "Overall, the financial markets performed significantly better in 2020 than could initially have been expected following the outbreak of the corona pandemic." Also at the pension fund Spida the Corona pandemic had no negative impact, on the contrary: "The pension fund continued to grow in 2020, with retirement assets increasing by 8.1% . In addition, many new connections were gained." Asga admits to a slump in March 2020, but says: "In March 2020, we also suffered significant losses on fixed assets, but these were made up by the end of the summer. Particularly in Q4 2020, equity markets then increased, giving us a significant positive return."

Trend towards alternative investments and "concrete gold

The investment strategies of the pension funds hardly changed due to the Corona pandemic. As the stock markets in particular recovered quickly, there was no need for action in this regard. A further shift to alternative investments or to real estate, the "concrete gold", can be observed. Within the limits set by the legislator for the investment guidelines for the 2nd pillar, the pension funds are doing their utmost to optimize their allocations on an ongoing basis. The following statement is representative of this Allianz Suisse: "As a long-term investor, Allianz Suisse pursues the goal of achieving the most attractive and secure return possible with limited risk, so that we can fulfill the guarantees promised to clients at all times and offer additional return opportunities. The addition of intrinsic assets such as equities and real estate offers higher return opportunities compared to low-risk bonds." This strategy also seems to be the right way forward for other pension funds, such as the Pension Fund Profond writes: "Our strong focus on equity and real estate investments is the right way to go in the long term and thus also in the current situation, we are convinced of that, and the figures of the last 30 years prove us right."

But some Swiss pension funds have adjusted their strategies in the short term, such as the Helvetia (see also below): There, the share of Global equities was increased and implemented with a sustainable strategy, as they say. Or the Groupe Mutuel reduced its exposure to foreign currencies, and Previs reports an expansion in direct real estate.

How Swiss pension funds optimize their costs

Policyholders should therefore continue to benefit from a positive underlying sentiment on the stock markets. The pension funds, on the other hand, are moving cautiously because - as Michael Krähenbühl, Managing Director of Proparis - "it would be nice if the situation stabilizes or that 2021 goes down in history as another good investment year, but that depends very much on the current pandemic."

But it is not only the positive performance of the invested funds that benefits the insured. The majority of pension funds are looking to improve their cost structures, for example by simplifying services, e.g. through online tools. The management costs of real estate and alternative investments are also the subject of ongoing optimization, which ultimately benefits the insured.

Reduction of non-systemic redistribution

The legal requirements in the 2nd pillar continue to force all providers to carry out a high, non-systematic redistribution from the active insured to pension recipients. With the introduction of the new collective life tariff at the beginning of 2020, Helvetia, following other pension funds, has therefore also used its own room for maneuver and implemented various measures to reduce redistribution. Important elements of the new tariff are the gradual reduction of the conversion rate with crediting principle and selective premium increases. Thanks to the new tariff, Helvetia has succeeded in reducing the redistribution in its own portfolio. However, this remains at a high level of CHF 119 million in total (2019: CHF 185 million), according to Helvetia.

Helvetia is one of the few pension funds that still offers the full insurance model. However, the semi-autonomous solution Helvetia LOB Invest is being developed in parallel. Although only 4 percent of the connections are now on its account, the trend is clearly on the rise: "Since 2016, the strategically intended shift from full insurance to equity-preserving business has been taking place," says Helvetia. Semi-autonomous solutions are thus being promoted, while the acceptance policy for full insurance, taking into account expected annuitization losses, tends to be handled more restrictively. This is also clearly reflected in figures: The share of connections to full insurance fell from 61 to 54 percent.

The persistently high level of redistribution shows that a reform of the occupational benefit scheme is still imperative and urgent. Anja Göing-Jaeschke, Head of Actuarial Life Switzerland at Helvetia, explains: "The framework conditions of the 2nd pillar, such as conversion rate and minimum interest rate, do not reflect the demographic development and the extremely low interest rates. Only by adjusting the framework conditions can the systemic crisis in the 2nd pillar be overcome." Hedwig Ulmer, Head of Pension Plans and Member of the Executive Management Switzerland of Helvetia, adds: "With an initial reduction of the conversion rate to 6.0 percent, the core of a BVG reform has been on the table for years. It is now up to politicians to integrate this as quickly as possible into a reform proposal that is capable of gaining majority support."

A detailed dossier on the subject of occupational pension provision can be found in the ORGANISATOR print edition 5/2021. Order option here: www.organisator.ch/abo-bestellung/