The partnership combines Towers Watson’s expertise in benefits, investment and communication consulting with Vebnet’s technology to support organizations that need portal-based flexible employee benefit schemes. According to the announcement, Vebnet and Towers Watson have a similar, successful partnership in Asia Pacific.
By combining Vebnet’s technology, bespoke communication programs delivered through multimedia channels, and consulting and implementation teams, Towers Watson can develop and deliver a differentiated employee benefit strategy and solution to leading companies. This solution can include communications plans, total rewards statements, flexible benefits and online pay slips to bring more choice, empowerment, flexibility and automation to the company’s benefit scheme. The technology can be deployed in multiple languages and currencies and be the application controlling multinational or global employee benefit scheme provision and administration.
The announcement said this technology currently supports over 260 organizations, covering 400,000 employees. The technology is deployed in over 20 countries and in different languages including Chinese, Thai and Spanish.According to Vebnet, the partnership is designed to assist companies facing any issues prevalent in Latin America such as escalating benefit cost inflation, increasing complexity and cost in benefit scheme administration, increasing diversity in the workforce and different employees’ needs, a desire to leverage the value that employers spend on benefit provision, the challenge of engaging employees through relevant and effective communications, an obligation to educate and inform employees of the need to save for and plan for retirement, and becoming an employer of choice with a differentiated reward and benefit strategy.