Research: Modernising Benefits: In Conversation with Swiss multi-nationals

Willis Towers Watson’s latest research on how multi-national organisations can modernise their benefits turns to Switzerland, where it interviewed a number of executives in Swiss-headquartered firms who were responsible for managing benefits globally.

In total, 11 large Swiss multinationals were included in the research – those with worldwide operations in industries including financial services, pharmaceuticals, supply chain and logistics, and retail. Most had more than 30,000 employees, with operations in more than 50 countries.

It found:

• Firms were increasingly looking to simplify the benefits they offer, making them consistent across all business units and harmonising benefits after corporate transactions
• But… they were also more focused on the benefits they offer and how they communicate. There was less emphasis on modernising how their benefits are actaully financed, or in streamlining operations, and using data-driven analytics and insights to make optimal decisions around design and cost management
• Modernising benefits will increasingly involve developing operating models that enable collaboration among different functions responsible for rewards and benefits, workplace policies, inclusion and diversity programs, and wellbeing programmes