Aon and ABC Survey Reveals Progress with Global Governance of EB
Aon and the American Benefits Council have released the Global Benefits Governance and Operations Study 2018/2019.
The study queried over 200 multinational companies ranging in size from over 100,000 to fewer than 10,000 employees, and asked global compensation and benefits leaders for their views on best practices in global benefits management.
The survey also explored key issues such as what these organizations can do to improve the alignment of benefits with organizational strategy, and how they can better manage the costs and risks of global benefits.
The results reveal that companies worldwide feel as though they are making progress with global governance of employee benefits, while indicating that there is still room for improvement, citing:
- The persistent primary barriers to progress are lack of time, resources and budget
- Lack of suitable technology and expertise about the norms and opportunities exist in many countries
- Those who have made the most progress cite internal and external collaboration as having been the key enablers
- Those who have progressed have also typically started by getting clarity of strategy and structure
- By contrast, others have often hit a barrier of uncertainty around next steps after collecting data from around the world
- The findings were remarkably common by size of company and headquarters location
- Companies describing themselves as generally centralized had made the greatest progress with global governance
- The expectation of further progress is backed by an expectation of further corporate centralization
The full study was released in April 2019 and can be accessed by sending a request to Aon through this portal.