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Willis Towers Watson Public — Willis Towers Watson — Investor Presentation (April 2020)
25 slides from Willis Towers Watson Public's investor presentation, Apr 30, 2020
Slide 1: Navigating the Covid-19 Crisis: The New Normal of the Workforce
Navigating the Covid-19 Crisis: The New Normal of the Workforce Sharing by Willis Towers Watson for the Malaysia Context (Version 1.1 – Updated April 30, 2020) The content herein was presented in partnership with ICDM for the Covid-19 Webinar Series - Navigating the Covid-19 Crisis: The New Normal o
Slide 2: Today's Agenda and Speakers
Today’s Agenda Willis Towers Watson Speakers Shai Ganu Snapshot of the current environment ICDM Faculty Managing Director, Global Leader - Executive Compensation and Governance, Willis Towers Watson Guiding principles to shape ethical and responsible actions in light of Covid-19 Lim Chin Han Managin
Slide 3: Malaysia Covid-19 Lockdown Timeline
Today is a time unlike no other in our collective experience as people, communities and organizations due to the Covid-19 pandemic and Malaysia has now gone through four rounds of Movement Control Order (MCO) extension in efforts to flatten the curve Malaysia Covid-19 Lockdown Timeline 5/03 18/03 31
Slide 4: Sampling of employer actions and policymaker responses
Employers and policymakers are taking a variety of actions in response Economic effects have spurred Sampling of employer actions policymakers to action ▪ Delayed salary review, reduced increment funds or frozen ▪ Stimulus package to enable industries, support salary increment business owners and he
Slide 5: Half of employers expect a negative Covid-19 impact on their business
Unsurprisingly, half of employers think Covid-19 will have a negative impact on their business in the next year and most are uncertain about the impact for the next two years What impact will Covid-19 have on your business results over the next 6 months? 12 months? 2 years? Positive impact Total: To
Slide 6: No two companies will be affected in the same way
While the extent of impact remains to be seen, no two companies will be affected in the same way – some industries will be impacted positively and others negatively, hence there is no one-size fit all solution Global health crisis Global economic crisis Humanitarian crisis Significant number of the
Slide 7: Employers must rapidly recalibrate their focus and response
Employers must rapidly and dramatically recalibrate their focus and response While focus has been on the public health, economic and societal implications of the pandemic, workforce implications are no less profound In 2019, fewer than 10% of business leaders from G20 and OECD countries considered t
Slide 8: Most Malaysian organizations feel very prepared to operate during the crisis
Interestingly, most organizations in Malaysia indicated they are very prepared to operate during the current Covid-19 crisis – with majority taking a variety of immediate and short term actions Was your company prepared / equipped to operate during the current Covid-19 crisis? 1% 16% 14% Very Prepar
Slide 9: State of Wuhan post-Covid lockdown
Wuhan is on a slow path back to normality after 76-day coronavirus lockdown – but life post-lock down is anything but normal and after effects can still be felt by enterprise, businesses and people Large industrial enterprises have resumed operations – but State of Wuhan post-Covid lockdown not at f
Slide 10: Five key principles for shaping an effective course of action
The Covid-19 pandemic underscores the material value of the health and contributions of people to business success We believe there are five key principles for shaping an effective course of action See this crisis as a defining leadership moment— and continue delivering the best 1 possible outcomes
Slide 11: Three distinct stages and key scenarios
We see the situation unfolding across three distinct stages, along with the key scenarios and its priorities to address the current realities and prepare for the journey forward to protect, preserve and create human capital value Three distinct stages Key scenarios and priorities 1 | Managing throug
Slide 12: Three stages and scenarios impacting the workforce
Three distinct stages and key scenarios that will impact the workforce and inform immediate, short-term and mid- to long-term actions to underwrite organization and people risks 1 | Managing Through The Crisis 2 | Restoring Stability 3 | Operating Post-Crisis Protect and Preserve Human Capital Value
Slide 13: Leaders face challenges managing a dispersed workforce
As companies go through the Covid-19 crisis, leaders are facing challenges in managing a dispersed workforce in an uncertain and complex environment 1 | PEOPLE MANAGEMENT & 2 | POLICIES & 3 | TECHNOLOGY & ENGAGEMENT PROCESSES ENABLERS Lack of work clarity Higher need to actively Compliance to regula
Slide 14: React and Resolve: the defining leadership moment
React and Resolve – The course of action taken during the first stage is the defining leadership moment in shaping the values held by organisations to guide decisions affecting its workforce 1 | Managing Through The Crisis Protect and Preserve Human Capital Value React and Resolve Challenges in lead
Slide 15: React and Resolve: actions considered
Work Employee Experience React and Resolve – Guide and action items to focus on Total Rewards Wellbeing 1 | Managing Through The Crisis React and Resolve Protect and Preserve Human Capital Value MCO Implemented Move to remote work Overcommunicate Immediate ▪ Implement work from home arrangement and
Slide 16: Framework towards supporting WFH to maintain productivity
Framework towards supporting WFH to maintain productivity and performance Key elements to address for WFH 1 | Work Process 2 | Structuring Teams 3 | Leadership & People 4 | Technology & Enablers What is the role of leaders to achieve What technology infrastructure and What is the nature of work and
Slide 17: Employers taking immediate and short-term actions in response to Covid-19
Employers are taking a variety of immediate and short-term actions in response to Covid-19 Most actions are addressing immediate business priorities (e.g. putting in work enablers, safety measures and awareness), with only 38% are including overall wellbeing of employees as part of the priorities fo
Slide 18: Return and Reorganize: restoring stability
Return and Reorganize – Have the courage to rewrite the rules for the new normal to bring people back to work, focusing on reorganizing the workforce to balance short-term costs with medium-term resilience and rebound 2 | Restoring Stability Return and Reorganize Regenerate Human Capital Value Chall
Slide 19: Return and Reorganize: actions considered
Work Employee Experience Return and Reorganize – Guide and action items to focus on Total Rewards Wellbeing 2 | Restoring Stability Return and Reorganize Regenerate Human Capital Value MCO Extended / Lifted Plan for return to work Review implications to PM & Total Rewards Short-Term ▪ Segment workfo
Slide 20: Malaysian companies' actions affecting pay and rewards
Even as Malaysian companies are taking actions that impact pay; others continue to evaluate options and companies need to design a program that is customized to balance their business needs with their workforce needs Pay & Rewards Paid vs. Non Paid Leave 77% of organizations said 2020 annual bonus p
Slide 21: Objectives for managing work and rewards in the short term
We suggest the following objectives for managing work and rewards in the short-term Tactical ▪ Invest in the infrastructure required for the Strategic ▪ Identify business focus areas and required “new normal” and to ensure continued work acceleration/deceleration areas protection for employees as th
Slide 22: Forces shaping the future way of work
While engaging in immediate and short-term actions, organizations should start having initial ideas for medium and long-term planning as Covid-19 has accelerated the future way of work 1 Changing demographics (Five generations in the What we already knew: workforce and a borderless economy – baby bo
Slide 23: HR 4.0 for a positive transition to the future way of work
Idea in brief: HR 4.0 will be critical for a positive transition to the future way of work From current way of work… To future way of work… Workforce made up of employees, supported by Workforce made up of optimal combination of process-driven systems and technology employees, contingent workforce a
Slide 24: Key takeaways to respond to Covid-19
Key takeaways to respond to Covid-19 and prepare for the way forward Have a clear exit strategy to navigate the aftermath of lockdown, while prioritizing wellbeing of employee post-crisis world There is no one size fit all solution – assess the level of impact Covid-19 will have on the business and
Slide 25: Thank you
Thank you Towers Watson (M) Sdn Bhd “The best way to predict the Menara Dion, #26-01 27 Jalan Sultan Ismail future is to create it” 50250 Kuala Lumpur Tel: +603 2372 0500 - Peter Drucker - If you have any questions about this document, please contact: ▪ Shai Ganu – Shai.Ganu@willistowerswatson.com ▪
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