IWS Documented News DAILY POSTINGS

IWS Documented News Service
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Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Towers Watson

Joining Forces: Forging an HR/Finance Partnership to Shape Employee Rewards for the Future [15 December 2011]

http://www.towerswatson.com/research/6033

or

http://www.towerswatson.com/assets/pdf/6033/Towers-Watson-HR-Finance-Partnership.pdf

[full-text, 18 pages]

Against the backdrop of a tough economy, tight labor budgets and continued escalation of health care costs, concerns about the

impact of health care reform have the potential to expose sharp diff erences in views from the two organizational functions

closest to cost and talent issues. Yet a new Towers Watson-Forbes Insights survey of more than 300 finance and HR executives at

organizations across the U.S. reveals far more agreement on cost and talent objectives than many might expect.

Press Release 15 December 2011

Finance, HR Executives See Roles Changing in the Wake of Health Reform, Towers Watson Survey Finds

Vast majority expect to maintain health care benefits for active employees; no change anticipated to reward mix

http://www.towerswatson.com/united-states/press/6058

NEW YORK, December 15, 2011 — A tighter partnership between corporate finance and human resource executives may be on the horizon as U.S. companies begin to address the implications of health care reform for their reward programs and talent management strategy, according to a new survey by global professional services company Towers Watson (NYSE, NASDAQ:TW) and Forbes Insights. The survey, Joining Forces: Forging an HR/Finance Partnership to Shape Rewards for the Future, found that both groups of executives share an expectation of further increases to their health care and other reward budgets in the next few years, although surprisingly, neither sees any change in the mix or cost allocation for their overall reward programs.

The survey of more than 300 HR and finance executives at U.S. companies found that both groups of respondents see changes ahead in their own roles when it comes to reward programs. Currently, the majority of HR executives (81%) and finance executives (55%) agree that setting reward program strategy is largely driven by HR. However, in terms of budgeting for rewards, a greater number of finance respondents (53%) indicate they are more involved, compared with 47% of HR executives who see themselves in the lead.

AND MORE....

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This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.

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Stuart Basefsky                   
Director, IWS News Bureau                
Institute for Workplace Studies 
Cornell/ILR School                        
16 E. 34th Street, 4th Floor             
New York, NY 10016                        
                                   
Telephone: (607) 262-6041               
Fax: (607) 255-9641                       
E-mail: smb6@cornell.edu                  
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