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2014 Current and Emerging Global Benefit Themes — Employee Benefits: A Headquarter Perspective

June 26, 2014

2014 Current and Emerging Global Benefit Themes — Employee Benefits: A Headquarter Perspective
Source: Towers Watson
From press release:

Seven out of ten global or regional benefit managers at multinational companies have limited or no access to timely financial information related to current employee benefit spending, according to Towers Watson’s 2014 Current and Emerging Global Benefit Themes research.

Mark O’Brien, senior consultant at Towers Watson said: “It is striking that global and regional benefit managers at many multinationals – which often spend hundreds of millions of dollars on employee benefits annually – do not have this vital piece of information. Nowhere else within their businesses would such a lack of management information or oversight be acceptable. The underlying information exists, but needs to be extracted in a structured manner from finance systems, which is often the difficult part. Notwithstanding, we see more advanced multinationals allocating the resources necessary to address this so they can use information on benefit spend to help identify risks and opportunities, make decisions and prioritise their activities to increase the return on investment from their benefit plans.

The Towers Watson research also shows that two-thirds of multinationals are at the early stages of developing their global benefits strategy and management approach. This means they are either just getting started or narrowly focusing on a single global benefit management area.

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