On May 28, 1990, I started work at Mutual Life of Canada. To celebrate this milestone, I’m sharing my reflections on my 30 year career in the group retirement business.

I’ll start with a look at what’s changed in the workplace and the retirement business over the years. Then, I’ll review some things that haven’t changed. Finally, I’ll share my advice for anyone starting out in their career.

How did I get here?

Like many others, I didn’t plan a career in financial services. I applied because someone told me Mutual Life was a good place to work. I had no idea when I walked through those doors that my new job as a pension issue clerk would turn into a 30 year career in the group retirement business.

When I started, I knew nothing about pensions or investments. In fact, when given the option to join my previous employer’s pension plan, I declined. Like many young people, I was focused on making ends meet and not thinking about the future. It’s more than a little ironic that I have spent a good part of the last thirty years trying to find ways to help people see the benefits of saving. 

I worked at Mutual Life for ten years before making the move to Manulife. I have held many different roles in 30 years, and I have worked for 13 bosses and with more co-workers than I could ever count.

What was going on in the world in 1990?

As I think back, I was lucky to get hired at Mutual Life when I did. In the second quarter of 1990, we were headed into a severe recession.

On May 28, Madonna’s Vogue was the number one song. Brian Mulroney was our Prime Minister and the Edmonton Oilers had just won the Stanley Cup, without Wayne Gretzky.

In international news, Nelson Mandela was released from jail, and East and West Germany reunited. Tensions in the middle east were rising and we were heading into the Gulf War. It was a time of significant change and turmoil around the world. 

How was work different in 1990?

I have seen a lot of changes in the workplace since those early days at Mutual Life. Some of the biggest changes that come to mind:

• We dressed up for work – every day. Men wore dress shirts and ties, and usually jackets. Women wore dresses, skirts and dress pants. There were no casual Fridays and jeans were rarely seen in the office.
• There was paper everywhere. We entered plan data on our mainframe systems using dumb terminals but everything else was paper. Stacks and stacks of folders and paper.
• Everyone was in the office every day. The idea of working from home would have felt like something from a science fiction movie.
• We did presentations on overhead projectors
• Customers communicated with us by phone or snail mail. We did have an internal email system called DAX, but it would be several years before we got external email.
• The Internet wasn’t widely used. The first customer-facing websites didn’t appear until the late 1990s.
• We had a lot less meetings and they were all face-to-face. Zoom, Skype, video conferencing…more science fiction!
• Retirement plan members had about three to five investment options to choose from. Enrolment material was a black and white booklet, stapled in the corner and stuffed in a folder.
• Defined benefit pension plans were still common in the private sector in Canada.

Check out Acceptable workplace behaviour – Then and now to learn more about how the workplace has changed over the years.

What is still the same?

While many things have changed over 30 years in the group retirement business, others remain the same.

• We’re still in the business of helping people save for a better future. This positive aspect is one of the reasons I am passionate about the retirement business.
• I work with amazing people who are committed to doing great work.
• People want to laugh and have fun at work.
• I’m still learning. Although the fundamentals of the business haven’t changed, there’s never a shortage of things to learn. New legislation. Innovative investments. Changing technology and product methodologies. All these things keep us on our toes.
• Despite all of the technology and information at their fingertips, financial literacy and savings rates are still low. Plan members need our help more than ever.
• Pension legislation is still complicated. Interestingly, there was already talk of pension harmonization in the early 1990s. Thirty years later, although there has been some alignment, we’re still dealing with a complex patchwork of laws and regulations across the country.

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What advice would I give someone just starting their career?

When I started in the business, I was single, living alone in a one-bedroom apartment. Over the years, I got married, bought a house and raised two wonderful daughters. I have battled health issues and other challenges. My perspective and priorities have shifted with time and experience. Here are some of the things I wish I had known when I started out.

• Relationships matter more than the work. Years from now, you will forget all the details of the projects you worked on or the work that you did. You will remember the people and the relationships you built. Take the time to get to know your co-workers. Support and help each other. You will achieve more by working together.
• There’s a difference between a boss and a leader. I have worked for many bosses over the years. I have also been fortunate to work for several inspiring leaders. In my opinion, a boss focuses primarily on getting the work done. On the other hand, a leader creates an environment conducive to getting the work done by helping people perform to their full potential. Most importantly, you don’t need a title to be a leader. Leadership is a skill, not a job.
• Which brings me to my next point, career paths aren’t linear and it’s okay to change direction. When I started out, the only way to advance your career was to become a people leader. I lead teams for close to 20 years. About ten years ago, I made the conscious choice to move out of people leadership and it was the right move for me. I am much happier as an individual contributor and I get to use my leadership skills in different ways.
• Never stop learning. Seek out education related to your field. Embrace new technology. If you have a chance to do something new and different, take it. Most valuable learning happens on-the-job. Observe people. Ask questions. Listen.
• Get involved. I have volunteered my time with industry groups and professional organizations throughout my career. I have also participated in committees, change networks, and communities of practice within my company. Don’t be afraid to put your hand up when these opportunities come along. You’ll build your professional network, learn new skills and have some fun doing it.
• Finally, work is important but other things in life matter more. Give your family and friends the time and attention they deserve. Spend time doing things you enjoy. Look after your physical and mental health. Being well-rounded will ultimately make you more effective at your job.

It’s hard to believe 30 years has gone by since that first day at Mutual Life. Although I didn’t plan a 30 year career in the group retirement business, I am very grateful for the opportunities the pension business has given me. I truly can’t imagine working anywhere else.

What advice would you share with someone just starting out? Tell us below.