http://www.watsonwyatt.com Latest Watson Wyatt Human Capital Strategies Articles and News en-us Copyright 2009 Watson Wyatt Worldwide http://backend.userland.com/rss091 1/5/2009 8:18:45 PM 20 According to a new survey, the number of companies implementing cost-cutting measures has increased sharply in just two months. Among the changes are moves towards layoffs, hiring and salary freezes and smaller pay raises. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=20311On December 23, 2008, President Bush signed the Worker, Retiree and Employer Recovery Act of 2008 into law. While the legislation, which Congress passed by unanimous consent, includes provisions to provide much-needed relief for pension plan sponsors as well as individual investors, it does not include a number of key proposals the business community is seeking. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=20292Implementation clarifications for China’s Labor Contract Law have been published and are in effect as of September 18, 2008. The new regulations include provisions for the absence of employment contracts and the calculation of severance payment. [CHINA]http://www.watsonwyatt.com/search/parser.asp?ID=20291Proposals announced in the 2008 Pre-Budget Report, released by the U.K. government on November 24, 2008 include increases in employer and employee National Insurance contributions. This increase is part of a move to improve the economic sustainability of public finances in the medium term, and will take effect largely in 2011 when the government expects the economy to be recovering from the current downturn. Also proposed were several measures intended to provide an immediate boost to the national economy, including a reduction in value-added tax. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=20295According to recent survey findings, many defined benefit plans (DB) in the U.K. expect employer contributions to rise following their next valuation. Also, the financial turmoil and subsequent recession is expected to drive pension plan change generally, including plans closing to new entrants, closing to future accrual for existing members or making other changes to reduce costs. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=20296Financial services companies are stopping hiring and are implementing organisation-wide restructuring, but are not expecting to introduce widespread pay freezes in 2009, according to consultants Watson Wyatt. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=20268With general uncertainty about what the economic future holds, the need for organisations to keep a tight focus on employee reward strategy will be more important in 2009 than ever before, according to Watson Wyatt. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=20262Employee engagement in many Asia-Pacific countries - including Hong Kong, Singapore, South Korea and Taiwan - has declined over the past year, according to Watson Wyatt''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''s 2008/2009 WorkAsia(TM) study. [ASIA-PACIFIC]http://www.watsonwyatt.com/search/parser.asp?ID=20210 [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=20189By international standards, UK senior managers receive a high proportion of their earnings in the form of bonuses and profit share. However, this pattern does not follow for middle ranking and more junior employees. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=20177Companies risk losing their most recession-experienced executives at just the point they most need them, according to Watson Wyatt. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=20108As the impact of the global economic crisis takes hold, a quarter of U.S. employers expect to make layoffs in the next 12 months. However, most companies are focusing on increased employee communication and smaller cost-saving measures, according to a survey by Watson Wyatt, a leading global consulting firm. [LATIN AMERICA/CARIBBEAN]http://www.watsonwyatt.com/search/parser.asp?ID=20104A medida que se agrava el impacto causado por la crisis económica global, la cuarta parte de los empleadores de Estados Unidos planifica despidos en los próximos 12 meses. Entretanto, la mayor parte de las empresas se enfoca en aumentar la comunicación con los empleados y en tomar medidas menores de contención de gastos, según una encuesta realizada por Watson Wyatt. [LATIN AMERICA/CARIBBEAN]http://www.watsonwyatt.com/search/parser.asp?ID=20105À medida que o impacto da crise econômica global se agrava, um quarto dos empregadores dos Estados Unidos planeja demissões nos próximos 12 meses. Entretanto, a maioria das empresas está preocupada em aumentar a comunicação com os funcionários e tomar medidas de contenção de despesas, conforme pesquisa da Watson Wyatt. [LATIN AMERICA/CARIBBEAN]http://www.watsonwyatt.com/search/parser.asp?ID=20106As the impact of the global economic crisis is felt, a quarter of U.S. employers expect to make layoffs in the next 12 months; however, most companies are focusing on increased employee communication and smaller cost-saving measures. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=20073According to a recent survey, a quarter of U.S. employers plan to make layoffs in the next 12 months as the global economic crisis continues to unfold. However, most companies are responding by focusing on increased employee communication and smaller cost-saving measures. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=20013La inflación global es una de las principales preocupaciones de las transnacionales estadounidenses [LATIN AMERICA/CARIBBEAN]http://www.watsonwyatt.com/search/parser.asp?ID=20005Inflação global é a maior preocupação das multinacionais norte-americanas [LATIN AMERICA/CARIBBEAN]http://www.watsonwyatt.com/search/parser.asp?ID=20006A bill, expected to come into effect in 2009, will make employer discrimination based on race illegal in Hong Kong. The bill will be applicable to all employees, whether they are permanent, part-time or contract workers. Employees under commission-based and outsourcing arrangements are also covered. The bill was passed in July 2008. [HONG KONG]http://www.watsonwyatt.com/search/parser.asp?ID=19990Nearly 50 per cent of companies surveyed by consultants Watson Wyatt are reviewing their executive remuneration policy and philosophy because of the current financial and economic turmoil. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=19980