Delivering an effective global benefits strategy
•
3 j'aime•716 vues
First webinar in our mini-series based on our 2015 Global Employee Benefits Watch. Find out what the latest trends are in global benefits administration and employee engagement.
![Presenter [name]
[Date]
DELIVERING AN
EFFECTIVE GLOBAL
BENEFITS
STRATEGY
Matthew Gregson
29th October 2015](https://image.slidesharecdn.com/gebw-webinar-deck-for-us-final-160217181226/85/delivering-an-effective-global-benefits-strategy-1-320.jpg)
Recommandé
Recommandé
Contenu connexe
Tendances
Tendances (20)
En vedette
En vedette (13)
Similaire à Delivering an effective global benefits strategy
Similaire à Delivering an effective global benefits strategy (20)
Dernier
Dernier (14)
Delivering an effective global benefits strategy
- 1. Presenter [name] [Date] DELIVERING AN EFFECTIVE GLOBAL BENEFITS STRATEGY Matthew Gregson 29th October 2015
- 2. WE ARE… Revolutionizing global benefits In 73 countries, 22 languages 450 People in 4 global locations Thomsons Online Benefits – world leader in global benefits management software
- 3. WHAT IS GEBW? • Over 10 years of insight • 2nd Global Edition • Trends on global benefits strategy, employee engagement and technology solutions and adoption. • Insight from more than 300 global HR leaders • Covering 4 million employees worldwide • 48 industries • Americas, APAC, EMEA
- 4. OUR HYPOTHESIS There are some common building blocks that companies use in delivering a global benefits strategy which have a measurable impact on its success…
- 5. WHAT ARE THE GLOBAL BENEFITS CHALLENGES? 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Lack of Employee Understanding of Total Reward High Administration Overhead Inability to Report on Global Spend Inability to Demonstrate ROI Inability to Communicate Consistently Escalating Benefit Spend No Yes There are some consistent challenges that companies are facing in delivering global benefits, centering on engagement, admin & governance
- 6. HOW ARE COMPANIES TRYING TO SOLVE IT? 51% of companies surveyed have a defined Global Benefits Strategy. For those companies that do, there are some common ambitions for what they want their approach to achieve, which can be summed up as “bringing in the right people who can help drive business performance” 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Align with Business Strategy Attract & Retain Talent Remain Competitive Enhance Engagement Drive Business Performance Promote Wellbeing No Yes
- 7. WHAT ARE GLOBAL COMPANIES TRYING TO ACHIEVE? 6% 67% 27% Effectiveness of our Global Benefits Strategy Very effective Effective Not very effective So, are there any measurable differences in the 51% of companies with a defined strategy versus the 49% who don’t have a documented approach? On self-diagnosis, nearly 75% of companies with a defined strategy feel their approach is effective… But is it and can we find the building blocks that differentiate them from the companies that don’t or don’t have a defined strategy?
- 8. GLOBAL BENEFITS STRATEGY Whereas, historically, many Global Benefits Strategies have been about consistency of benefits, that wasn’t a strong theme from this year’s results Instead, we believe that the building blocks have evolved to: Consistent Admin Local Design Consistent Comms Global Governance
- 9. GLOBAL BENEFITS STRATEGY American multinational that designs, manufactures, and sells networking equipment. Industry: IT-Hardware Global Headcount: 74,043 Project: 62 EMEAR countries $35-60k savings on administration costs per country $1M+ in savings through tax efficiencies in EMEA
- 11. COMMUNICATIONS & EMPLOYEE ENGAGEMENT Employee engagement was both one of the greatest challenges companies face in delivering their global benefits strategy and one of their key objectives in proving its value 4% 15% 66% 15% Overall Employee Engagement Trends Not engaged at all Varies by region Somewhat engaged and responsive Very engaged and responsive With only 15% of companies feeling that their global workforce is well-engaged, the majority of companies have a way to go… So what makes the difference?
- 12. COMMUNICATIONS & EMPLOYEE ENGAGEMENT We asked respondents to self-diagnose the effectiveness of their communications and tell us about how they communicate benefits with their employees 8% 24% 57% 11% Is Your Communications Approach Effective? Strongly disagree Somewhat disagree Somewhat agree Strongly agree Those who feel their approach is effective are: • 25% more likely to communicate frequently • 35% more likely to have a global benefit brand • 37% more likely to use Total Reward in some regions Interestingly, no single medium had a positive link to engagement
- 13. COMMUNICATIONS & EMPLOYEE ENGAGEMENT 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% All Some None All Some None Yes No Effectiveness of Communications Approach on Engagement Not engaged at all Varies by region Somewhat engaged and responsive Very engaged and responsive Overall, companies that used a combination of Total Reward and a Global Benefits Brand were: • Significantly more likely to have engaged employees; and • Consistently did not believe that they had a real engagement challenge
- 14. COMMUNICATIONS & EMPLOYEE ENGAGEMENT Not only does a strong communications approach drive engagement, it also has a direct link to the effectiveness of the overall Global Benefits Strategy. And, those companies without a global benefits strategy were 25% less likely to say their comms approach was working 0% 20% 40% 60% 80% 100% Strongly disagree Somewhat disagree Somewhat agree Strongly agree Link between Effective Comms and Effective Global Benefits Strategy Very effective Effective Not very effective
- 15. COMMUNICATIONS & EMPLOYEE ENGAGEMENT Multinational food-products corporation based in France. Industry: FMCG Global Headcount: 98,236 83% of employees logged onto the site over the benefits selection window Employees rated their reward scheme 24.6% higher EMEA Challenges: • Poor response rate and results in their global survey • No consistent approach to benefits across business units
- 17. EFFECTIVE ADMINISTRATION Second to employee engagement in the challenges faced by respondents was the administration burden carried by teams: 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Internal Burden Provider Errors/SLA Inability to Report Globally Too Many Suppliers Lack of Employee Ownerhship Accuracy of Internal Reporting Global Admin Challenges Yes No
- 18. EFFECTIVE ADMINISTRATION Once again, we know what the consistent issues are, but can we identify those who are overcoming the admin challenge? 38% 11% 51% Use of Global HRSS Model No Planning Yes 18% 55% 6% 13% 8% Benefits Management Approach Manual process Different by Location Local brokers software HR software Global Benefits Software Although 51% have global HRSS, only 21% have consistent approach to benefits admin (HR or Benefits Software)
- 19. EFFECTIVE ADMINISTRATION So, do the 21% that have a consistent approach to admin have an advantage over the rest? 0% 20% 40% 60% 80% 100% Global Benefits Software HR software Local brokers software Different by Location Manual process Admin Burden versus Benefits Admin Approach 1 day or less 2 to 5 days 6+ days In addition to being 20% more likely to get admin down to a day or less and 15% less likely for admin to take 6 days or more, people using benefits software are also: • 25% less likely to have an internal admin burden • Up to 40% less likely to have global reporting issues • 19% less likely to have an issue with the # of suppliers
- 20. EFFECTIVE ADMINISTRATION 0% 20% 40% 60% 80% 100% Manual process Different by Location HR software Local brokers software Global Benefits Software Ability to Report Globally by Admin Approach Strongly agree Somewhat agree Somewhat disagree Strongly disagree Companies with global benefits software are significantly more likely to be able to govern and report globally on benefit spend. In addition to that, companies with Global Benefits Software are 28% more likely to say their Global Benefits Strategy was effective
- 21. EFFECTIVE ADMINISTRATION Considering the above, it is interesting to see the admin preferences and plan for our respondents, depending on the approach they take today. Other than those companies using local broker software, the majority of companies are looking to move to Global Benefits Software 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Local brokers software HR software Different by Location Manual process Global Benefits Software Current and Preferred Approach to Administration Manual process Different by Location Local brokers software HR software Global Benefits Software
- 22. DARWIN IN THE SHARED SERVICES CENTER Global principles around engagement of employees HR shared service centers Globalizing payroll Different benefits models Reduced headcount Better understanding and engagement Ability to deliver local info remotely Centralized reporting American multinational manufacturer Industry: Manufacturing and Tech Global Headcount: 100,000+
- 23. KEY FINDINGS
- 24. KEY FINDINGS • Those companies with a defined Global Benefits Strategy(GBS) are running their Global Benefits More Effectively • Effective Communications drives an Effective GBS • Effective Comms is impacted by having a Global Benefits Brand, Frequent Communications and Total Reward • Effective Administration drives an Effective GBS • Effective Admin is more likely with consistent software, especially Global Benefits Software, which is more effective at reducing the admin burden and improving global reporting
Notes de l'éditeur
- As multinationals continue to expand globally, they realize the importance of having a unified benefits and rewards strategy for their international workforce. However, while the majority (51%) of employers have a written global benefits strategy in place, a significant number (45%) do not, which means many companies have not yet centralized their benefits programs and administration.
- UK Version
- In light of the increased expectation of a tailored and personalized experience, global employers will have to ensure their Total Reward strategy evolves alongside the needs of the employees they need to attract and continually engage in order to retain them long term. A lack of understanding of the value of Total Reward amongst employees is still the main challenge for employers as reported by 57% of respondents. There is much room for improvement, as only 9% of employers offer Total Reward statements globally i.e. in multiple countries, and an astounding 52% do not provide Total Reward statements even in one country.
- This creates the call to action, which is “you need a global benefits strategy, centred on having a global framework for comms, admin and governance, allowing for local differences in benefit policy and design”.