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Global HR executives face a distinct set of challenges every year. Our rapidly, constantly changing world is growing more sophisticated, expanding its labor pool and pressing employers, at every turn, to find new and efficient ways to add value to their organizations. Multinational companies must compete as employers of choice to meet their financial and overall organizational goals in 2016 and beyond.
The role of Cultural Skills in Mitigating Corruption Risks in Corruption-prone Industries and Geographies – a Case Study of an International Jv in the Oil & Gas Sector
“Corruption, and the perception of corruption, erodes trust in governments, businesses, and markets. In the aftermath of the greatest financial crisis of our time, we need to rebuild that trust more than ever before.
While the concept of employee engagement has been around for over two decades, its importance as a competitive driver for employers has sharply increased in recent years. Maximizing gains from the total rewards budget and attracting the best workforce, and then retaining employees by maintaining their motivation, has never been more critical to global business.
Research conducted by the London School of Economics (LSE) in the U.K. proves the value and causal link between companies’ investment in communication and increasing their employees’ engagement with their pension, ultimately improving their retirement outcomes.
The Dutch pension system, and the frequent changes in that system, have been the subject of many (international) publications over the past decades. Readers of such publications are very likely to have lost track, as there probably have been too many changes to digest.
Mobility has never been in the mainstream of HR. Originally few employees transferred among international locations, and those that did were a nomadic and independent bunch. They completed one assignment and then moved on to the next one or returned home; as long as their occasional updates to HQ showed progress they were left alone.
Brazil’s Social Security sector has undergone several transformations since it was implemented in the distant year of 1821, when the country still was a Portuguese colony. The existing models date back to 1923, when the country’s railway companies created a Retirement and Pensions Fund to cover their employees. Today, Brazil has three main pension schemes: the General Pension Scheme, managed by the National Social Security Institute and run by the government, to which all formally employed workers are entitled; the Special Public Servants’ Regimes; and Supplemental Pension Plans.
Sending Employees into Harm’s Way – and Yourself into Big Trouble: The Role of HR in Ensuring The Safety of Globally Mobile Employees
As global markets turn more positive and the financial markets recover, employees are turning their attention to better managing their talent and headcount. While cost and efficiencies remain the key priorities in global mobility and business travel programs, we also see a new focus emerging: a duty of care to employees.
In a low-interest rate world, alternative investments may provide some relief – and unexpected benefits too. In today’s financial markets characterized by very low interest rates, higher-than-expected risks, and high volatility in equity prices, investing for the long term is a challenging proposition. Decent returns, even at the unexciting level of one two percentage points above inflation, may be difficult to achieve without bearing substantial risk.
Most multinational companies have a single property and casualty insurance policy that covers their factories and offices around the world in case of flood or fire or theft. But when it comes to global employee benefits, many have a different contract—or even many more than one—for each country, through several brokers, and a pooling or captive arrangement to boot.
Human resources has successfully partnered with various functional areas for many years. Finance and HR partner to manage costs and optimize the value of compensation packages and other employee rewards. Operations and HR partner on devising solutions for work design, scheduling, and staffing. Marketing and HR partner to convert the firm’s brand into organizational culture and an employer brand.
Depending on health insurance plans is a common reality in Brazil. According to figures released by the Brazilian Geography and Statistics Institute (IBGE) in June, 27.9% of the population had some type of health insurance plan in 2013, and more than one-third of the monthly payments were made by the policyholder’s employer. If we consider that this data is from 2013, we can assume that the total amount of private health insurance purchased by companies for their employees is even higher today.
The 2015 IGP Conference held in Boston, MA, IGP’s hometown, included three presentations that provided unique perspectives on otherwise well-known topics. GBV reports on the impact of a changing workforce and on adherence to a global benefits structure in this issue and will cover progressing from a wellness program to an integrated wellbeing approach in the March 2016 Special Issue about Wellness.
The MAXIS Conference devoted to sleep, “Sleep, a Business Case for Bedtime: The hidden Global Health Issue Impacting Employee Performance,” took place in November 2015 in Amsterdam, with the support of Zilveren Kruis, the health insurance division of Achmea.
Demographic factors and the current socio-economic context present major challenges to the statutory (i.e., state) pensions system. Lowering the statutory pension age is not an option, nor is increasing contributions. These two factors together inevitably lead to a tightening of the conditions for access to statutory pensions and to early retirement, as recent government measures in this area confirm.
While Mexico’s principal mandatory pension system began as a Defined Benefit (DB) program in 1973, in 1997 it was changed to a Defined Contribution (DC) plan, with individual accounts managed by financial institutions such as banks and insurance companies. This DC system is still open to new members, while the DB pension one is closed.
In June 2010, Benefits & Compensation International published an article by Ms. Le Men-Tenailleau on variable compensation for bankers. It focused on the employment and tax law aspects of the regulations issued by the French government in 2009 and 2010, following the Pittsburgh G20 summit of September 2009.
Executive pay is a high-profile topic and almost everyone has an opinion on it. Many shareholders, workers and politicians believe the entire system is broken and requires a substantial overhaul. But, despite being well-intentioned, their suggested reforms may not be targeting the elements of pay most critical for shareholder value and society.
Captive insurance has been an increasingly popular alternative risk transfer mechanism for U.S. companies for decades. But what may come as a surprise is that one of the great growth opportunities isn’t a new property or casualty exposure. It’s employee benefits.
As the largest UK market place, Group Life is the best place to start our review. Every year the two most important surveys for U.K. Group Risk Insurers come out in April and June. Swiss Re’s ‘Group Watch’ shows how the Group Risk market is doing, and ORC International’s syndicated Group Risk adviser research shows how the industry is performing across the whole customer journey and anticipated future trends.