WILLIS TOWERS WATSON
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
Our Vantage Point
Our people, our research driven intellectual capital and our relationships offer an unmatched vantage point. This has been well represented in respected publications like the Strategist, Business Today and People Matters where we have shared perspective on key trends that will shape the HR industry:
Future of Work – Technologies are fusing, blurring lines between the physical, digital and biological worlds, and technological breakthroughs like artificial intelligence and robotics will continue to evolve. These changes are dramatic compared to previous revolutions in that they are already disrupting almost every industry in every country, having a significant impact on work and jobs.
Business Agility for the Digital Age – Dynamic marketplaces reward businesses that can deliver relevant products and services with speed. In today’s digital environment, businesses must be able to plan, execute and scale with greater agility to future proof their operations.
As organisations are forced to adapt to changing market forces and customer demands, core organisational capabilities (one of these being talent) must also be agile in order to address these changes and succeed in the new environment, if not merely survive.
Agile organisation design – Aligning an organisation to its operating model, business objectives and customer value propositions will continue to be a priority for the top management. Leadership capability will be crucial to drive organisational growth.
Performance management that works – Focus will be on identifying the hyper performers and cutting through performance management bureaucracy. Managing performance as a concept is nascent where many organisations have either done away with the age old bell curve or are piloting such a concept for critical functions.
Rewards portfolio that builds sustainable employment deal – Organisations will keep strengthening the golden rule – ‘pay for performance’, the total employment deal would cover all aspects of employee experience.
Role of technology – HR technology will play a transformative role in strengthening the HR ecosystem.
Analytics and Decision-Making – More than ever, data is king, and key stakeholders will look to HR to provide data-driven insights to identify and address workforce issues and provide solutions to help solve them.
Flexibility – Employees will continue to look for more flexibility in the workplace – from telecommuting to working unconventional hours.
Health and Wellness – increasing focus on programmes that create differentiated EVP to promote and support health and wellness.
Communication – openness and transparency when it comes to explaining pay and benefit philosophies to employees.
Not just Partners or Advisors, but Pioneers
Over the years, Willis Towers Watson has been a visionary in assessing trends that would impact business. We have been able to achieve this through our unflinching focus towards insight based pioneering research.
Reimagining employee engagement in India
Employee engagement surveys to have become a mere calendar activity, or are organisations effectively listening to employees and taking attendant steps towards sustainable engagement? Willis Towers Watson’s Re-imagining employee engagement in India explored perceptions around employee engagement, the essence of employee surveys and how these are likely to take shape in the future.
Bringing HR Risk into the spotlight
The impact of human capital risk is typically not well understood or managed, even in organisations which are otherwise adept at managing other risks. Willis Towers Watson commissioned a study specifically to identify critical people related risks faced by organisations and assess the overall maturity of human capital risk management practices in India.
Transforming the Talent management and Rewards Space
Our talent management and rewards study for the first time took an in-depth look at the employee reward programmes and talent management best practices of organisations around the globe. The global workforce study which polled employee views, made this a uniquely insightful combination on issues around attraction, retention and engagement.
Championing Wellness to improve Productivity
Holistic health and wellbeing strategy is not only about providing a number of programmes, but also about ensuring that healthy lifestyles are embedded in the organisational culture through communication and engagement strategies, supported with metrics and viewed as a true business priority. Our Staying@Work study surveys how successful organisations use health and productivity strategies to their competitive advantage.
Championing Retirement Adequacy
The Willis Towers Watson Global Benefits Attitudes Survey revealed a discomforting observation that millennials in India feel they are less likely to be better off in retirement than their parents. Therefore there was a critical need to develop a whitepaper titled Understanding & Preparing for Retirement Adequacy in India. This whitepaper is a holistic retirement planning tool where we looked at retirement planning using advanced modelling techniques.
Employee Benefits Accounting and Risk Study
Since 2008, Willis Towers Watson has published an annual study on the finances of employee benefit plans of the largest companies in India. The insights have led Indian companies to become increasingly vigilant about financial facets of employee benefits, as a result today companies have greater clarity and understanding about valuation of employee benefits.
Retirement Plan Governance
Our retirement plan governance study provides insights into what companies are doing to address statutory changes, increase employee awareness and improve governance in retirement benefits in India.
Leveraging technology to deliver a superior client experience
- Talent|REWARD is a world-class talent and reward software solution.
- BenTrack: designing cost effective and consistent employee benefits programmes by assessing the market competitiveness through this powerful web-based tool.
- CompSource: insights to help our clients design compensation and benefits programmes that are based on data from across 40 industry sectors to match with the evolving market trends.
- HR Portal Software: Personalised, mobile-ready software that dramatically improves the user experience and lowers HR operating costs. HR Portal gives employees, managers, families, retirees and HR the information they need, when and where they want it.
- VERA: is the first automated narrative text-processing tool in the world designed specifically for employee survey comments. VERA utilises a breakthrough analytic formula that extracts key themes buried across thousands of comments in seconds.
- Saville Consulting Wave: This psychometric assessment tool gives highly valid information on individual’s talents, motives, competency potential and preferred culture. These are highly insightful for making recruitment, talent management and employee development related decisions.