Human Resource Consulting Companies Essay
Based in Virginia U. S. A. , Watson Wyatt is a world leading consulting firm in Benefits, Technology and Administration Solutions, Human Capital, Investment Consulting and Insurance and Financial Services. It started with R. Watson & Sons in 1878 until it got incorporated as Watson Wyatt Worldwide Inc in 1958, to its full incorporation of WisdomNet in 2007. It operates globally outside of the United States in Canada, Europe, Latin America and Asia. It has US$1. 3 billion in revenue and 7,000 associates in 32 countries.
Particularly, its human capital consulting service is primarily rendered through extensive, comprehensive and distinctive research on various initiatives and development in people asset management. The details and results of such research becomes the basis of its intrinsic fact based recommendation. They have a patented and registered research methodology called “Human Capital Index®”. This methodology enables their client companies to discern and pinpoint the appropriate and excellent human capital process that will redound to increased corporate performance, thus, increased value of shares.
Watson Wyatt’s consultancy strategy on human resource development likewise devises attitudinal analysis towards work through its equally registered and patented “WorkAttitude Research”, i. e. , WorkUSA®, WordCanada™, WorkAsia™, and WorkEurope. This evaluates the workable and
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“The strategy of human capital management is a key differentiator for financially successful organizations. Beyond traditional human resources activities, a strong human capital strategy allows for direct connections between the value employees offer and a company’s bottom line. ” (WatsonWyatt, 2008) As pension plans benefits are part of warranting employee performance, Watson Wyatt has been an open book in recognizing its adoptability to changes necessitated by particular work environments and laws. In its cooperation with the mandate of the Canadian government, Watson Wyatt agreed to work on the new guidelines.
“Watson Wyatt recognizes that an effective solution will be one which enhances the pension system for all stakeholders – pensioners, employees and plan sponsors. We also recognize that the Government of Ontario is concerned with the financial risks associated with the [Pension Benefit Guarantee Fund] PBGF, the operational effectiveness of Financial Services Commission of Ontario (FSCO), and the role of the private pension system in ensuring income security for Ontario seniors. We expect improvements to Ontario’s pension system will require concessions by all stakeholders. ” (Special Memorandum, 2007)