In this report, Watson Wyatt Worldwide examines 68 DC plans offered by Fortune 100 companies in 2008, including eligibility and vesting rules, employee and employer contributions, and plan investments and expenses.
In this paper we suggest that the DC post-retirement hedging and de-risking market is currently under-developed and opportunities exist for greater product development. In addition we think the current practice of formulaic switching from growth assets to protection assets as DC members approach retirement age is too simplistic and will prevent many members from participating in strategies that can enhance the purchasing power of their portfolios. We also outline a number of market-based and regulatory developments that could improve pre- and at-retirement investment and points to three specific examples for doing so: introducing flexibility around retirement date, deferring the date of annuity purchases and adopting a draw down strategy, expanding annuity-type products.
In November 2009, Watson Wyatt surveyed employers to find out what actions they have taken to manage health and welfare annual enrollment this year and what changes they expect to make next year. The survey was completed by 349 U.S. employers from 22 industries. This year’s participants offer an average of three health plans and have an average of 11,628 employees.
The 2009/2010 Staying@Work report is the result of Watson Wyatt’s inaugural North American survey of companies’ health and productivity programs. The report reflects the natural evolution of this research, which has been separately conducted in the United States and Canada for more than a decade. This research details current trends and best practices, including employer’ efforts to improve employee health, combat presenteeism and reduce lost time from work.
The U.S. executive pay model continues to be buffeted by an onslaught of external forces, most notably a significant economic recession, volatile financial markets, legislative activity and activism by pay critics and shareholder advisory firms. Confronted with new shareholder proxy disclosure rules for 2010 and the prospect of “say on pay” legislation, companies and their boards are focused on crafting executive pay arrangements that strengthen the tie between pay and sustained performance.
In this research report Watson Wyatt asserts that the long-term outlook for emerging economies will impact positively on emerging market investments, but it warns that choice of asset class and implementation route are not obvious. The firm also suggests that emerging market equities, debt and currencies are where exposure to the macroeconomic dynamics of emerging markets will be most readily obtained. In addition it discusses how emerging market economies will continue to grow strongly, due to a mix of rising productivity, economic and financial reforms, and favourable demographics. However, it states that institutional investors face significant complexity and potentially high fees when trying to build a portfolio that captures this long-term trend and should also recognise the governance implication of following such a strategy.
In September, Watson Wyatt surveyed a cross-section of 84 Canadian capital accumulation plan/defined contribution (CAP/DC) sponsors to understand the major challenges they are facing in today’s economic environment. In particular, the survey focused on identifying strategies that can help CAP/DC members achieve better retirement outcomes from their plans.
This report summarizes the findings of our 2009/2010 multiregional study. It identifies what the companies with highly effective communication practices are doing to inform and engage their employees in challenging economic times, and shows how these practices vary around the world.
In October 2009, Watson Wyatt continued our ongoing research on the economic crisis based on survey responses from HR executives at 201 U.S.-based companies. This is an update to our bimonthly reports that began in October 2008 to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to the economic downturn.
In this paper we outline our views on the often complex fee structures involved when investing in infrastructure. Most of the infrastructure funds we research are structured as private equity type vehicles with similar fee structures. The features of these fee scales include: fees based on commitments rather than invested capital, high management fees of 1-2 per cent, hurdle rates of around 8 per cent, carried interest of 20 per cent, full catch-up (sometimes phased in), additional fees and charges, such as transaction or financing fees and fund expenses. We have concerns about a number of these features and explore them in more detail in the paper.
The alignment of DC plans’ investment strategy to its governance capability is critical to maximising value for members, whereas a misalignment can both waste effort and destroy value.
In late September 2009, Watson Wyatt surveyed 187 HR and compensation executives at large U.S.-based organizations to understand what effect the economy is having on their executive pay programs.
Negotiating terms has previously been challenging due to limited capacity in high quality general partners (GPs) and the restricted ability of limited partners (LPs) to pool their bargaining power.
Survey of Financial Assumptions for Defined Benefit Plans under Hong Kong Accounting Standard 19 - Employee Benefits Hong Kong Accounting Standard 19 - Employee Benefits (HKAS 19) was issued by the Hong Kong Institute of Certified Public Accountants in December 2001.
In this report, Watson Wyatt Worldwide analyzes disclosures for fiscal year (FY) 2008 under Financial Accounting Statements (FAS) 87 and 106, as amended by FAS 132 (Revised 2003) and FAS 158. The disclosures are from the most recent annual reports or financial statements of the nation’s largest public companies — those in the most recent listing of the Fortune 1000.
The P&I/ Watson Wyatt global 500 research is prepared using joint research by Pensions & Investments and Watson Wyatt and includes a ranking of the world's largest active and passive investment managers.
Since the economic downturn began, only about one-third of the study participants have communicated to employees about how the economy is affecting their pay and benefits – the things that affect employees most personally. And only 14 percent are explaining the terms of the new employment deal. It is encouraging, however, that half of the companies plan to communicate with workers about the impact of the downturn on the business, going forward. Additionally, we found considerable differences in the goals of downturn-related communication among the world regions and among the areas of the organization that lead the communication effort.
As the recent market crisis has unfolded, one area of the private equity landscape that commentators suggested would inadvertently benefit from the market conditions was secondary funds and their limited partners (LPs). The reality to date appears to have been somewhat different, with very few transactions clearing the market (at the time of writing) due to a continued dislocation between buyers and sellers pricing expectations. The purpose of this paper is to explore this dynamic and consider the prospects of the secondary market moving forward.
In mid-August, Watson Wyatt surveyed a cross-section of 53 Canadian-based organizations to understand what adjustments they have made to their executive compensation programs in light of the economic crisis (e.g., base salary/merit increases, annual incentives, long-term incentives) — and whether and when they will reverse any cuts/changes as the economy improves.
The recession has had widespread and unprecedented impact on U.S. employers and their employees. While the worst might be over, companies need to be prepared for the effects to linger even after the economy recovers. The scope and number of actions employers have taken in response to the economic crisis have resulted in a drop in employee engagement (particularly among top-performing employees), and this could have a long-lasting and detrimental impact on productivity, quality and customer service.
In August 2009, Watson Wyatt surveyed 129 sales and HR executives at large North American companies to understand what adjustments they are making to their sales goals and sales incentive plans as a result of the current economic environment. The respondents represent a cross-section of industries.
Trustees of defined benefit (DB) pension schemes are accustomed to the concept of journey planning. Trustees and sponsoring employers generally have a clear understanding of how their funding and investment strategies are linked, and the impact of their chosen strategies on benefit security.
Between mid-March and mid-April 2009, Watson Wyatt surveyed DC plan sponsors to determine how they are addressing critical issues such as plan design, investment options, and communication and governance practices in the current environment.
In February 2009, Watson Wyatt surveyed 2,232 active employees and 904 retirees of nongovernment organizations with 1,000 or more employees to gauge the effect of the economic crisis on Americans. This report focuses on employees’ retirement plan design preferences and is the third and final installment of a research series on the survey findings.
In light of the economic crisis, corporate pension funds are taking steps to reduce their exposure to risk – including decreasing defined benefit equity allocations, adding and eliminating defined contribution investment options, and taking more stringent approaches to managing fiduciary risk. Few, however, are taking steps towards cost-cutting and better governance.
In August 2009, Watson Wyatt continued our ongoing research on the economic crisis by surveying HR executives at 175 U.S.-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to the economic downturn. This is an update to our bimonthly reports that began in October 2008.
Due to the current global economic crisis, Watson Wyatt has conducted a second edition of the survey, “Effects of the Economy on HR Programs,” which looks at how companies are adjusting their HR programs - recruiting and hiring, compensation, and benefits and salary increases. The 441 executives surveyed are from various Latin American countries; their firms represent different industry sectors and sizes, and origins of capital. Fifty-two percent consider their companies to be global, while the others are split into national and international organizations.
A flexible benefits program, as the name implies, is a benefit delivery model structured to provide employees the opportunity to choose those benefit options that best fit their needs, according to their personal preferences and stations in life.
The 2009 Global Survey of Accounting Assumptions for Defined Benefit Plans is the 20th annual survey by Watson Wyatt of assumptions selected by major corporations for their defined benefit plans around the world.
Watson Wyatt's 2009 global executive pay study looks at the extent to which global convergence has already happened in executive pay practices, together with the prospects of this continuing to happen around the world in the years to come.
The study reviewed the executive pay practices in 12 countries, namely Belgium, Brazil, France, Germany, Hong Kong, Ireland, Italy, Japan, the Netherlands, the UK and the USA.
Since September 2008, companies have taken a variety of restructuring actions to dampen the effects of workforce reductions. The most prevalent actions have focused on cost management – hiring freezes, salary freezes and reductions in overtime – with varying degrees of effectiveness. Both merit increase budgets and annual bonus funding are down in 2009; however, companies are projecting a rebound in merit increase budgets for 2010.
The financial crisis has placed defined contribution (DC) pension provision firmly under the spotlight. The dramatic falls in fund values observed for most members during 2008 have been drawing attention to the risks inherent in DC pension provision and focusing attention on how employees, employers and plan fiduciaries can better manage their DC pension plans.
An update of a macroeconomic review in 2005 reveals a much changed world in which increased uncertainty and complexity now shape our investment views. We draw some tentative conclusions regarding the implications for investment portfolios.
To better understand the impact of the recent financial crisis on Canadian pension plan sponsors, Watson Wyatt Worldwide conducted its sixth annual Survey of Pension Risk during February-March 2009. The survey asked senior executives, including chief financial officers (CFOs) and vice presidents of human resources (VPsHR), about their views on — and reactions to — the current challenges as well as future threats to their defined benefit (DB) and defined contribution (DC) pension plans.
The Global Alternative Survey covers five alternatives asset classes: real estate; private equity fund of funds (PEFoF), fund of hedge funds (FoHF), infrastructure and commodities and includes rankings of the top managers in each area.
In early June 2009, Watson Wyatt surveyed a broad cross-section of 92 Canadian-based organizations to understand what adjustments they have made to their HR programs in light of the economic crisis (e.g., staffing, pay, benefits) – and whether and when they will reverse any cuts/changes as the economy improves.
In June 2009, Watson Wyatt continued our ongoing research on the economic crisis by surveying HR executives at 179 U.S.-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to the economic downturn. This is an update to our bi-monthly reports that began in October 2008.
Performance management defines how strategic organisational goals and employee contribution are aligned through communication, management and employee engagement. It clarifies ‘what’ needs to be delivered and ‘how’ this will be achieved, and assesses the contribution made by each employee to deliver organisational performance. This guide deals with the issues many companies face when going through the performance management process. It shows how an integrated and comprehensive approach to performance management line managers to get the best out of their employees and deliver organisational performance. If you would like a copy of this guide, please contact Vanessa Abbott (Vanessa.email@example.com) +44 (0)207 227 2399.
In February 2009, Watson Wyatt surveyed 2,232 active employees and 904 retirees of nongovernment organizations with 1,000 or more employees to gauge the effect of the economic crisis on Americans. This report focuses on employees’ retirement timing and is the second installment of a research series on the survey findings.
A majority of independent directors believe that companies need to change their executive compensation programs in order to respond to pressures from the financial crisis and new regulations affecting executive pay. Directors are unanimous in their belief that the executive pay opportunities will decline over the next two years. Close to 60 per cent believe that executive pay-for-performance will improve to a significant or at least a moderate extent as a result of public pressures.
For almost a decade legal and best practice standards have encouraged institutional shareholders to be active owners of capital. In the wake of the economic crisis this message is being re-emphasised by Government and other stakeholders. As the investment industry re-examines the respective roles and responsibilities of market participants the relationship between companies and their shareholders will no doubt receive further attention. It is likely that pension funds will come under increasing pressure to use their shareholder rights to advocate improved corporate governance.
In February 2009, Watson Wyatt surveyed 2,232 active employees and 904 retirees of nongovernment organizations with 1,000 or more employees to gauge the impact of the economic crisis on Americans. This report focuses on employees’ responses and is the first in a series of reports on the survey findings that will be released over the coming weeks.
In February and March 2009, Watson Wyatt asked employers about their HR sourcing strategies, satisfaction levels and future plans in the areas of talent management, social media, benefit administration and payroll, especially in light of the economic crisis. A total of 181 companies participated, with an average of nearly 14,000 U.S. employees covering more than a dozen industries.
In this paper we suggest that active investment managers are facing increasing pressures on profitability. Absent a strong market rebound, there is likely to be considerable change among asset management organisations. This would disrupt asset owners portfolios and so we suggest some actions that can be taken now to prepare for such an eventuality.
With the ongoing economic downturn, the majority of outside directors believe American companies need to change their executive pay programs. Seventy percent of directors believe executive pay opportunity will decline over the next two years. More than one in three companies has already reduced salaries, target bonuses and/or long-term incentive award levels. However, most directors think legislation and public pressures will not lead to improved pay for performance over the next two years. Directors are placing more emphasis on performance-based plans.
In April 2009, Watson Wyatt continued our ongoing research on the financial crisis by surveying HR executives at 141 U.S.-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to the economic downturn. This is an update to our bi-monthly reports that began in October 2008.
Stock markets fell drastically after the financial turmoil intensified in September 2008, translating into trillions of dollars of losses to investors around the world. This has had a profound impact on the private pension landscape. To better understand the effect of the financial crisis on Canadian pension plan sponsors, Watson Wyatt Worldwide conducted its sixth annual Survey of Pension Risk during February-March 2009. The survey asked senior executives, including chief financial officers and vice presidents of human resources, about their views on — and reactions to — the current challenges, as well as future threats to their defined benefit (DB) and defined contribution (DC) pension plans.
In 2007, Watson Wyatt carried out a study to examine the accounts of the major listed companies on the Australian Stock Exchange to assess the materiality of superannuation risk in corporate Australia and help companies assess their comparative situation. This report presents the results of the 2009 update to that study.
In early 2009, Watson Wyatt continued our ongoing research on the economic crisis by surveying HR and sales executives at 91 U.S.-based companies to understand what actions they are taking to effectively manage their sales investments (e.g., staffing, pay) in response to the recession. This is an update to our September 2008 report.
For China market watchers, "Understanding China's Pension System — Yesterday, Today and Tomorrow" provides a timely, pragmatic review that underscores the relationship between old-age income protection and the investment of pension fund assets, a subject of increasing importance in the continuing fall-out from the recent financial crisis.
The global economic slowdown and proposed health care legislation in many countries are expected to change today's health and benefits landscape. To prepare for the future, multinational companies are actively managing and administering their health care benefits around the world.
Employee engagement drives both individual and organizational performance. Companies with highly engaged employees find it easier to attract top talent, enjoy higher levels of employee productivity and experience lower turnover. As a result, these companies typically achieve better financial performance than others in their industries.
Workforce planning is a strategic response to changes in workforce demographics, business models and economic conditions – and in today’s environment, it’s more important than ever. This report examines the many workforce planning challenges employers are facing and the actions they are taking to address them. It reveals that many companies are not linking their workforce analytics to their business goals and offers strategies for improving processes, analytics and reporting to better align workforce planning efforts with business strategy.
In early March 2009, Watson Wyatt surveyed 145 HR and compensation executives at large U.S.-based organizations to understand what effect the economy is having on their executive pay programs.
The 14th Annual National Business Group on Health/Watson Wyatt Employer Survey on Purchasing Value in Health Care details current trends and best practices in employer-sponsored health care benefit programs.
After the financial turmoil intensified in September 2008, the S&P/TSX Composite Index fell drastically by more than 3,000 points, resulting in a $600 billion loss to investors. Public resentment of executive pay levels has been growing since the stock market meltdown.
In mid-February 2009, Watson Wyatt continued our ongoing research on the financial crisis by surveying HR executives at 245 U.S.-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to the economic downturn. This is an update to our October and December 2008 reports.
Watson Wyatt and the American Society for Healthcare Human Resources Administration (ASHHRA) conducted a 2008/2009 study of the health care industry. It reveals that a major challenge for health care organizations is the need to expand their facilities and human capital to meet the increasing demand for their services. Watson Wyatt research shows that an integrated approach to reward and talent management - one that touches all stages of the employment life cycle - is most effective in enhancing an organization's attraction and retention efforts; however, as with general industry, few health care organizations have implemented an integrated approach.
A recent Watson Wyatt survey conducted with more than 200 companies in multiple industry sectors suggests that collective agreements made between June and November 2008 showed salary adjustments generally exceeding inflation rates, thus leading to real gains for employees — especially when compared to the Brazilian Consumer Price Index (INPC), the main index used for salary negotiations.
Companies today are challenged to “do more with less.” But this goal cannot be achieved simply by demanding more of top performers, who are already operating at or near their peak. The key to driving big productivity gains is increasing engagement among the vast middle group of employees — the core contributors who represent about 60 percent of the workforce. Employee engagement helps drive both individual and organizational performance. Companies with highly engaged employees find it easier to attract top talent, enjoy higher levels of employee productivity and experience lower turnover. As a result, these companies typically achieve better financial performance than others in their industries. In today’s uncertain times, employees are willing to listen to senior leaders and are ready to commit to and strive for business success. Senior leaders have a unique opportunity to reach out and engage all employees more fully in driving business results.
Economic volatility, new technologies and globalization are accelerating the pace of change in talent markets across industries and geographies. In the context of continual change, managing talent and rewards effectively is vital to developing and sustaining a competitive edge.
Watson Wyatt’s 28th Annual Canadian Survey of Economic Expectations provides forecasts for 23 economic and financial indicators.
Companies today are challenged to 'do more with less'. They cannot achieve this goal by demanding more of their top performer, who are already operating at or near their peak.
Some of the main findings from the study are: - The focus of the study is 'P11' (the top 11 pensions markets globally) which account for roughly 85% of all pension assets (note the power law here) - We have hard data for all periods up to 2007 and make estimates in respect of 2008 - The US, Japan and the UK remained the largest pensions markets in the world - P11 assets shrank by 19% during 2008, from US$25 trillion to US$20 trillion - Global pensions balance sheet funded status deteriorated by 29% in 2008 after improving by 4% per annum the previous 5 years - Last year's markets have produced a big swing in asset allocations to a global average of 42% equities, 42% bonds and cash, 16% other assets - The DB: DC split is now 55: 45 globally. Ten years ago it was 70:30.
As economic uncertainties raise anxiety levels among workers across all industries, employers are making changes in their communication programs. They are increasing communication about organizational performance and solvency, as well as pay and benefits.
In this report, Watson Wyatt examines the 401(k) plans offered by Fortune 250 companies in 2007, including eligibility and vesting rules, employee and employer contributions, plan investments and expenses.
In the current uncertain economic environment, it’s of growing interest to hear how experts view the short- and medium-term investment landscape. In November and December 2008, Watson Wyatt conducted a global survey of 104 investment managers to gauge their views on macroeconomic predictors, capital market expectations and where they see investment and governance going in the future.
In October 2008, Watson Wyatt surveyed North American employers to gain insight into their workforce planning practices. The survey results highlight the workforce challenges companies are facing and the adjustments they are making to their workforce planning programs in light of the recent events in the economy and financial markets.
The current financial crisis is significantly affecting the executive compensation programs of most companies. Compensation committees and management are being challenged to balance their need to retain key executive talent while responding to economic and public pressures to adjust executive pay levels and program components.
As the recession continues to take hold, more companies now recognize the potential impact and indicate their HR programs will be affected. Employers are taking a multitude of steps to manage and reduce human capital costs and report carrying out more cost-cutting measures than they were just two months ago.
The executive pay model is under significant pressure from a variety of sources: a difficult economic environment, highly volatile financial markets, continued criticism from pay critics and new legislative initiatives. The most immediate impact has come from legislation; the bank bailout package passed by Congress in October 2008 includes lower pay cap deduction levels, an expanded definition of golden parachutes and limits on incentives to take “unnecessary and excessive risks” for a company. While these provisions have not yet been applied to the rest of corporate America, influential lawmakers have indicated that they intend to introduce similar restrictions in the near future.
In mid-November 2008, Watson Wyatt surveyed a broad cross-section of 138 Canadian-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to recent events in the economy and financial markets.
Global Strategic Rewards Report and EMEA findings
As health costs continue to rise and the economy slows, employees are being challenged to take more responsibility for their own health. But, in order to develop effective plans and support programs for employees, employers must first understand what drives their workers’ health care decisions.
The drive towards a sustainable low-carbon economy presents both risks and opportunities for the commercial real estate sector according to Watson Wyatt, a leading global consulting firm.
The 2008/2009 study findings show that an integrated approach to reward and talent management correlates not just with improved attraction and retention results but also with stronger financial performance.
Recent market events have had a substantial impact on securities lending practitioners and their clients. Notably, the demise of Lehman Brothers, some government restrictions on short-selling activity and under-performing money market funds, have all played their part in putting pressure on the lending industry.
In mid-October 2008, Watson Wyatt surveyed a broad cross-section of 248 U.S.-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to the recent events in the economy and financial markets.
This 2008 study identifies the global market pressures that North American multinational organizations are concerned will affect people costs in their non-U.S. locations and pinpoints the actions they plan to take in the next twelve months to reduce costs.
The P&I/ Watson Wyatt global 500 ranking is prepared using joint research by Pensions & Investments and Watson Wyatt.
Hong Kong Accounting Standard 19 - Employee Benefits (HKAS 19) was issued by the Hong Kong Institute of Certified Public Accountants in December 2001. HKAS 19 is essentially IAS 19 issued by the International Accounting Standards Board and adopted as applicable to Hong Kong companies by the Hong Kong Institute of Certified Public Accountants.
In this report, Watson Wyatt Worldwide analyzes disclosures for fiscal year 2007 under Financial Accounting Statements 87 and 106 (FAS 87 and FAS 106), as amended by FAS 132 (Revised 2003) and the new FAS 158. The disclosures are from the most recent annual reports or financial statements of the FORTUNE 1000. This report summarizes the assumptions used by companies in the calculation of pension expense and obligations; the disclosure of pension assets and obligations under FAS 87; and disclosures regarding postretirement benefits other than pensions, primarily retiree health and life insurance benefits, under FAS 106. This summary report is the 21st in a series by Watson Wyatt of annual analyses of FAS 87 and the 15th to analyze FAS 106 disclosures.
This paper summarises the main conclusions from our recent publication, Defining moments in which we explored what the future investment landscape might look like, focusing on both the near term (the next five years or so) and longer term (10-15 years).
With a global convergence of accounting standards on the horizon, changes made by the International Accounting Standards Board (IASB) could have important implications for publicly traded companies around the world. Yet, many companies are not familiar with the IASB’s proposed changes to IAS19 – its standard for accounting for employee benefits – and the majority of those that are do not support its proposal.
The 2008 Global Survey of Accounting Assumptions for Defined Benefit Plans is the 19th annual survey of assumptions applied by major corporations for their defined benefit plans around the world.
The P&I/Watson Wyatt global 300 ranking is prepared using joint research by Pensions & Investments and Watson Wyatt.
Our report provides you with overviews on executive compensation trends and suggests best practices to help your organization respond to the ever-changing challenges of executive compensation.
The goal of the research was to drill deeply into the evolving forces in the industry and present a plausible picture of its future landscape, through both near-term and longer-term trends. Our time horizon looked out towards 2020. We, however, acknowledge the considerable difficulties with longer-range forecasting given the increasing pace of change.
Watson Wyatt conducts this survey annually to rank the largest investment managers in the areas of real estate, fund hedge of funds, private equity fund of funds, infrastructure and commodities. According to the research, alternative assets* managed on behalf of pension funds by the world’s largest 99 investment managers grew by 40% in 2007 to US$822bn from US$586bn the year before.
Building employee engagement is critical to effectively managing a global workforce and creating business success. There is a strong link between engagement and fi nancial performance. Watson Wyatt’s Global WorkAttitudes research, summarized in this report, shows that when engagement is high, so is fi nancial performance.
Sustainable investment is experiencing unprecedented rates of growth and is being embraced by the mainstream investment market. What is fuelling this investor appetite, and how should pension funds respond?
In The Defined Contribution Plans of FORTUNE 100 Companies, Watson Wyatt Worldwide examines the 401(k) plans offered by 78 FORTUNE 100 companies in 2006, including eligibility and vesting rules, employee and employer contributions, and plan investments and expenses.
Now in its 13th year, the National Business Group on Health/Watson Wyatt Employer Survey on Purchasing Value in Health Care identifies the actions employers are taking to control costs and improve employee health and productivity.
Managing Executive Compensation in the Shareholders’ Interests, Watson Wyatt’s 2008 Report on Directors’ and Investors’ Views on Executive Pay and Corporate Governance, examines the challenge directors face in addressing criticisms of the executive pay model in a dynamic labor market. Overall, the opinions of both directors and investors alike suggest that the U.S. corporate governance model is continuing to improve on perceived shortcomings.
El Estudio Compensaciones Estratégicas Globales® 2007/2008 examina el modo en que las empresas de los países de Asia- Pacífico, Canadá, Europa, Latinoamérica y los Estados Unidos resuelven las cuestiones de atracción y retención, y la gestión de compensaciones.
Watson Wyatt’s 2007/2008 Onsite Health Center Survey – the largest survey of organizations that operate onsite health centers – provides insight into current trends in establishing and managing onsite employee health centers. Specifically, it details the significant differences between onsite health centers opened before and after 2000 and identifies several critical areas for improvement.
One hundred seventeen companies participated in Watson Wyatt’s Survey on Annual Benefits Enrollment. Respondents were mostly senior-level HR managers at large companies. The six-question survey was conducted in December 2007 at the end of the annual enrollment process. The median company size was 10,000 employees with four health plans.
This survey, which was conducted in December 2007, involved 85 insurance companies that provide medical insurance to employers throughout Asia, Africa, Europe and the Americas. Participants answered only for those countries where they have local medical portfolios or where they have credible data.
The investment world is subject to change on an unprecedented level. The pressure on pension fund sponsors, fiduciaries, asset managers and consultants to keep up with change is intense. Watson Wyatt is developing a view on how this landscape might evolve over the next decade or so. The survey, run in association with the Financial Times, was designed to encourage participation from all parts of the industry in developing these views. This presentation summarises the results from the survey.
The 27th Annual Canadian Survey of Economic Expectations provides forecasts for 27 economic and financial indicators as well as views on pension investment strategies.
Key findings: Increased pension assets provide some potential relief from adverse demographics; Pension fund asset allocation shows signs of becoming more defensive, but slowly; The mix of asset class (beta) and active management (alpha) risk taking is adjusting.
Over the past decade, significant changes have occurred in the large-company retirement plan marketplace: the growth of defined contribution plans, conversions to hybrid plan designs (e.g., cash balance plans) and increasing regulatory and financial pressures. Watson Wyatt’s Retirement Plan Design: Past, Present and Future examines trends in employers’ retirement plan strategies and provides insight into their decisions, motivations and plans for the future.
Companies face turbulent economies, tighter labor markets, expanding performance expectations, ongoing cost management requirements and globalization. Watson Wyatt’s 2008 report, Maximizing Sales Growth and Performance, demonstrates that companies can derive hundreds of millions of dollars in incremental expected revenue by defining sales roles clearly, allocating time appropriately and guiding salespeople to the right customers or prospects.