The executive pay model is under significant pressure from a variety of sources: a difficult economic environment, highly volatile financial markets, continued criticism from pay critics and new legislative initiatives. The most immediate impact has come from legislation; the bank bailout package passed by Congress in October 2008 includes lower pay cap deduction levels, an expanded definition of golden parachutes and limits on incentives to take “unnecessary and excessive risks” for a company. While these provisions have not yet been applied to the rest of corporate America, influential lawmakers have indicated that they intend to introduce similar restrictions in the near future.
In mid-November 2008, Watson Wyatt surveyed a broad cross-section of 138 Canadian-based companies to understand what adjustments they are making to their HR programs (e.g., staffing, pay, benefits) in response to recent events in the economy and financial markets.
Global Strategic Rewards Report and EMEA findings
As health costs continue to rise and the economy slows, employees are being challenged to take more responsibility for their own health. But, in order to develop effective plans and support programs for employees, employers must first understand what drives their workers’ health care decisions.
The drive towards a sustainable low-carbon economy presents both risks and opportunities for the commercial real estate sector according to Watson Wyatt, a leading global consulting firm.
The 2008/2009 study findings show that an integrated approach to reward and talent management correlates not just with improved attraction and retention results but also with stronger financial performance.
Recent market events have had a substantial impact on securities lending practitioners and their clients. Notably, the demise of Lehman Brothers, some government restrictions on short-selling activity and under-performing money market funds, have all played their part in putting pressure on the lending industry.
This 2008 study identifies the global market pressures that North American multinational organizations are concerned will affect people costs in their non-U.S. locations and pinpoints the actions they plan to take in the next twelve months to reduce costs.
The P&I/ Watson Wyatt global 500 ranking is prepared using joint research by Pensions & Investments and Watson Wyatt.
Hong Kong Accounting Standard 19 - Employee Benefits (HKAS 19) was issued by the Hong Kong Institute of Certified Public Accountants in December 2001. HKAS 19 is essentially IAS 19 issued by the International Accounting Standards Board and adopted as applicable to Hong Kong companies by the Hong Kong Institute of Certified Public Accountants.
Technical and Policy Papers are available for download free of charge to registered members of My Watson Wyatt .
