India: Taking
on the world’s work… or an offshoring bubble?
It has been a decade since the world first woke up to India’s potential as an
offshore provider of software engineering. Most multinationals now use India’s brain
power for R&D, IT support or Business Process Outsourcing (BPO). In this article
we confirm India’s unique strengths as a location for offshore services but also
discuss the key HR risks with which many multinationals operating in India are grappling.
[November 2005]
Asia's pensions time bomb
Across Asia, there is concern about ageing populations and changing social attitudes
that mean family support can no longer be counted on as the principal means of social
security in retirement. There is an appreciation that public social security systems
cannot provide a comprehensive solution to retirement income either and so many
Asian governments are now actively pursuing pension reform.
[May 2005]
Making the most of the IAS 19 experience
In January, we reported on how the implementation of the new international accounting
standard, IAS 19, in 2005 will affect the way companies listed on a European Union
stock exchange will be required to account for the cost of their employee benefit
arrangements in their financial statements. Anyone working in a multinational company
and responsible for compliance with this standard will be required to undergo an
annual accounting exercise that will be time consuming, will cost money, and in
all likelihood will not be fun.
[April 2005]
The Monsanto decision – its relevance for pension provision in Canada
On 29 July 2004, a serious blow was dealt to the Canadian pension landscape with
the release of the decision of Canada’s highest court, the Supreme Court of Canada
(SCC), in the ‘Monsanto’ case. The decision dealt with the treatment of surpluses
on the partial wind-up of a defined benefit (DB) pension plan.
[February 2005]
The new IAS 19 - the changes and the implications
Following the consultation carried out early in 2004, the International Accounting
Standards Board (IASB) published amendments to IAS 19, the international accounting
standard for employee benefits on 16 December 2004. The changes introduced by this
new IAS 19 are the result of a limited scope project on post-employment benefits,
in particular pension and post-retirement medical plans.
[January 2005]
UK pensions reform - simplification and security
This month's feature article examines the potential impact on occupational pensions
provision in the United Kingdom of legislative changes currently being implemented.
[May 2004]
Pension reform in the Caribbean
This month’s feature article looks at the factors driving the need for pension reform
in the Caribbean and highlights recently introduced changes in Barbados.
[February 2004]
Governance – evolution to revolution
In the past, management of international benefits within multinationals evolved
at a steady rate. Over the last few years, this evolutionary process has accelerated
to the point that evolution has almost become revolution. In this article, we review
the historical development of the international benefits function, look at why we
have now reached what is sometimes termed as a ‘tipping point’, and where the function
needs to evolve.
[December 2003]
IAS19 – What does it mean for European multinationals?
This month’s feature article examines the requirements that the adoption of IAS19
will impose on European multinationals.
[October 2003]
Linking human capital management to business value – a worldwide view
This month’s feature article highlights the main findings of Watson Wyatt’s research
into the linkage between human capital and business value.
[August 2003]
Finally - The European Union Pensions Directive
An overview of the possible impact of the Directive for Member States.
[June 2003]
Worldwide employee benefit buying programmes bring benefits and savings
“We tend to think in terms of product sales. If we get US$3m back in dividends from
this programme, we would need to sell US$120m of product to get the same result.
That’s how important it is.”
[May 2003]
La Belle France - but ‘belle’ for tomorrow’s pensioners?
Michel Rocard, Alain Juppé and Laurent Fabius were all prime ministers during the
French Fifth Republic but they also have something else in common. Over the last
20 years or so, each have made it a major element of his premiership to ‘reform’
the French pension system, but all attempts so far have foundered in the face of
opposition and concerted action from the social partners. The present Prime Minister,
Jean-Pierre Raffarin, is the latest to attempt reform. In this article, we examine
some of the inherent problems of the French retirement system and possible solutions
for companies with employees in France.
[March 2003]
Retirement in Canada and the United States - no mirror image
In many organisations based outside of North America, there is a commonly held perception
that one pension policy will suffice for the whole continent. As far as the United
States and Canada are concerned, however, this is far from being the truth. In this
article, we highlight some of the fundamental differences between two countries’
retirement savings regimes and demonstrate the impact these differences have had
on pension practice in both countries.
[January 2003]
Talking Turkey
on pensions
Although Turkey submitted its application for EU membership as far back as April
1987, ongoing unease over its humanitarian and democratic policies have been obstacles
to progressing the application. EU members are concerned to see whether recent legal
changes, including the controversial abolition of the death penalty, will be put
into practice. In this month’s Copenhagen summit, the position was given more clarity
with the EU leaders’ agreement to invite Turkey to begin accession talks in December
2004. The newly elected government is pledged to continue to bring Turkey closer
to the EU.
[December 2002]
M&A in China:
getting the people factor right
With a population reaching 1.4 billion by year 2015 and its annual gross domestic
product still growing at over 7%, China is a magnet for major foreign investment.
Some companies choose to set up green-field operations, while others work with a
local partner. No one imagines that either way is easy, but you can create a lot
of value if the process is carefully managed. Comprehensive due diligence of people
costs and organisational issues, in addition to aligning shareholder and employee
interests during the integration process, are fundamental in formulating successful
strategies.
[November 2002]
Implementing
global share plans
In the last decade, an increasing number of US, UK and continental European companies
have extended the scope of home-country share plans, to open them up to all their
employees around the globe. In this article, we investigate why companies are extending
all-employee share plans, the approaches adopted and some of the considerations
that need to be addressed in this supra-national context.
[September 2002]
The EU Directive
on National Information and Consultation
Many of us have witnessed, perhaps even at first hand, the latest series of high
profile, large-scale job cuts across Europe. These events increased pressure on
the Council of Ministers to introduce measures to protect the rights of the European
worker.
[August 2002]
Significant
pension legislation coming to Belgium
Casper Verbeek and Luc De Wée describe the key changes contained in the draft legislation
and consider some of the implications for employers.
[June 2002]
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