Compensation and benefits planning plays a critical role in the ongoing -- and increasingly challenging -- effort to attract, retain and motivate a talented workforce. Backed by proprietary research on the relationship between pay programs and shareholder value, our consultants work with clients to design and implement a wide range of reward programs.
Key to a well-designed and competitive remuneration package is information on market practices of the leading companies around the world. Our Total Rewards Surveys (TRS), designed by a team of highly qualified professionals with experience and expertise in providing quality data services, is the most comprehensive remuneration study in many of our markets. TRS takes into consideration the strategic nature of rewards and captures the mix of different compensation programs.
Our Total Rewards Surveys includes a set of benchmark jobs used across the Asia Pacific region, with some jobs common to all countries and others specific only to a country or industry. This allows both local as well as cross-country comparisons. Benchmark job descriptions are provided to help survey participants in the job matching process. The benchmark jobs have been evaluated using Watson Wyatt's Global Grading System™ (GGS). The global grades help companies to assess job size and to validate the fit of their job matches. The Global Grading System™ which underpins the job matching process links into Watson Wyatt's global compensation databases, allowing access to up to date market information in Europe, Middle East, Africa, North and South America and Asia Pacific.
Our Total Rewards Surveys covers the key markets in Asia Pacific including:
| • China | • New Zealand |
| • Hong Kong | • Philippines |
| • India | • Singapore |
| • Indonesia | • Taiwan |
| • Japan | • Thailand |
| • Korea | • Australia (through our strategic partner, Classified Salary |
| • Malaysia | Information Services Pty. Limited (CSi) |
Results of our Total Rewards Surveys are delivered in whatever format you require: hard copy, CD-ROM, or via the Internet. They are country-specific and industry-specific unless otherwise instructed. Our survey tool, Watson Wyatt Compass™ allows you to print your reports; download the reports into a spreadsheet; run comparisons of your data against the market; generate customized reports and analysis; select a "peer group" to perform analysis; and more.
Timelines for our Total Rewards Surveys vary by country. Typically, the survey
cycle follows a 4 to 6 month-cycle and is broken down as follows:
| • Enrollment Period | 1 month |
| • Data Collection & Data Validation | 1 to 2 months (simultaneously) |
| • Data Processing | 1 to 2 months (subsequently) |
| • Report Generation | 1 month (subsequently) |
THE SURVEY PROCESS
The Watson Wyatt Total Rewards Surveys is designed to provide market compensation
and benefits data your company needs. It also identifies issues and challenges
that organizations face and provides valuable information that will assist in
addressing them.
We work closely with companies throughout the survey cycle. In addition, we
help them to develop compensation solutions that link to their company's business
goals and strategies. There are four basic steps to our survey process:
Survey Planning and Participation
In this stage, Watson Wyatt, with input from past survey participants, defines
the parameters of the survey, including list of potential survey participants,
benchmark jobs to include, markets or industries to survey, type of survey,
assumptions to be used in benefits quantification, information and data to collect,
report formats, timelines and reference dates.
Data Collection
Once a sufficient number of companies confirm participation, access to the Data
Entry module will be provided to subscribers who may then enter their data online.
New participants are entitled to one job matching/data collection visit. Past
years' participants are entitled to a job matching/data collection visit once
every two years, with a job matching review via telephone or email during interim
years (exceptions are clients that have recently undergone restructuring).
Our job matching methodology uses the benchmark job approach which mainly focuses on job content to match jobs. Each benchmark job has also been assigned a global grade using the Watson Wyatt's Global Grading System ™. The global grade is used to ensure that there is proper matching in terms of levels as well. Once the job matches are established, participants are required to provide the pertinent information, complete questionnaires and submit their responses on or before a deadline.
The survey reference date, established at the onset, provides a basis for data comparability. All survey participants are required to furnish data as of the common reference date.
Upon online submission of the completed forms, the system will check submitted data for completeness, accuracy and consistency. Thereafter, a validation report will be generated and sent to survey respondents via e-mail in order to clarify information and address discrepancies in the data submitted.
Data Processing and Analysis
In this stage, survey responses are analyzed, processed and consolidated into
statistically relevant data that provide meaningful results. Benefits and employment
terms and policies are presented separately from compensation information. If
necessary, company-specific terminology and units of measure are converted to
align with the survey's pre-set terminologies and units of measure in order
to provide better comparability across organizations and preserve data confidentiality.
For total remuneration surveys, selected major benefits are quantified using
an actuarially tested and accepted method for benefits quantification.
We ensure that the types of analyses we provide add value to our participating
companies.
Reports Generation
We produce survey reports that completely detail all information and data submitted
by the participants. Subscribers are provided standard market reports in addition
to which customized reports can be generated to show company positioning relative
to market. Also available are a variety of pre-formatted reports to select from.
Alternatively, participants could download processed reports to customize their
own format.
VALUE OF PARTICIPATION
Extensive Database of Quality Participants
As the premiere data services provider with the longest Asian history, Watson
Wyatt offers the most extensive list of clients in terms of quality and quantity
across every major market. You will be tapping into an unparalleled wealth of
data intelligence.
Cross Market and Industry Comparability
Our global standard job matching methodology plus consistent data collection
and reporting mechanism mean you can directly compare results across jobs, countries
or industries.
Vertical Market Responsiveness
Having deep contact to the key industries allows us to capture the latest developments
within the sector, new benchmark positions, evolving job descriptions and emerging
trends for compensation and benefits as they appear.
Data Online
With our new web-based technology platform, users are able to access information
anytime, anywhere. Data can be entered and retrieved with efficiency and the
least administrative effort.
Custom-made Results
Every company and HR situation is different. Our compensation data management
system gives you full flexibility in analysis and reporting according to your
specific requirements, from selecting comparative peer groups to displaying
results in multiple graphic formats.
Value-added Service
Our teams of dedicated, industry-focused consultants and analysts are available
to assist you at any point during the survey process to ensure quality results
that fit your needs. The consultants are ready to provide practical advice ranging
from the most effective data analysis methods to in-depth interpretation of
reports.
Absolute Security and Confidence
To protect confidentiality, our survey system has built in features that prevent
isolation of individual data points. Our hard and software driven firewall also
provide a fortified environment within which your sensitive data will be preserved.
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