Willis Towers Watson Public Limited Company · NASDAQ:WTW
Willis Towers Watson Public — WTW — Investor Presentation (2023)
14 slides from Willis Towers Watson Public's investor presentation, Aug 6, 2023
Slide 1: 2023 Benefits Trends Survey Global
2023 Benefits Trends Survey Global wtwco.com © 2023 WTW. Proprietary and confidential. For WTW and WTW client use only.
Slide 2: Introduction
Introduction Employers are facing a range of challenges, including rapidly rising benefit costs Our 2023 Benefits Trends Survey examines the future direction of an and difficulties in the ability to engage, attract and retain key talent. With a organization’s benefits strategy; how innovative soluti
Slide 3: About the survey
About the survey Region Industry 5,233 employers Manufacturing 26% Europe 1,294 22.9 million employees North America IT and telecom General services 17% 15% 725 Asia Pacific Financial services 14% 72% 46% CEEMEA 440 1,746 Healthcare 9% Wholesale and retail 9% Latin America of employers are of respon
Slide 4: Executive summary
Executive summary 01 Conflicting ambitions 02 Driving efficiencies 03 Enhanced portfolio Desire to improve benefits to attract and retain Increased focus on streamlining operations and Current focus on benefits that meet employees’ talent and to better reflect new workforce models adopting more effi
Slide 5: Global trends – 2021 to 2023
Global trends – 2021 to 2023 What’s changed in the past two years? Shifting focus Accelerating Incremental growth Lagging Attention to cost management ⚫ Mental health support ⚫ Employee listening and ⚫ Offering flexibility and choice analytics around the employee across benefits ⚫ Improving terms wi
Slide 6: Competition for talent and rising costs are the key issues influencing benefits strategy
Competition for talent and rising costs are the key issues influencing benefits strategy Competition for talent 76% Competition for 1 talent Rising costs Flexible work arrangements 36% 51% Focus on inclusion and diversity 33% Rising mental health issues 22% 2 Rising costs Organization restructuring
Slide 7: Competition for talent and rising costs are the key issues influencing benefits strategy
Competition for talent and rising costs are the key issues influencing benefits strategy 2021 2023 Focus on inclusion Competition #1 and diversity for talent Competition #2 for talent Rising costs Flexible work Flexible work #3 arrangements arrangements Advances in Focus on inclusion #4 technology f
Slide 8: Employers are facing significant talent challenges
Employers are facing significant talent challenges They are also focused on supporting an effective workforce 79% 70% Attraction and retention Overall employee wellbeing of key talent 71% 65% Work engagement Employee productivity and effectiveness Q: To what extent is your organization prioritizing
Slide 9: Understanding benefits strategy
Understanding benefits strategy Strategy Navigator Align benefit portfolio with business and talent goals, Apply data-driven insights company culture and purpose, to inform decision making employee needs, and and measure outcomes Analytics and industry and market norms reporting Portfolio Manage com
Slide 10: Key areas of focus for the benefits strategy
Key areas of focus for the benefits strategy Financing and portfolio are the top areas of focus Plan cost 55% 1 55% Meets needs for all employees 50% Plan cost Wellbeing 46% Benchmarking and market trends 38% 2 50% Support choice and employee experience 22% Meets needs for all employees Choice and f
Slide 11: Alignment issues between employers and employees
Alignment issues between employers and employees Are employers delivering the benefits employees want? Ranked top 3 Employer Employee Gap Greater (Employer — Employee) employer focus Health benefits 62% 32% 30 Inclusion and diversity 27% 12% 15 Career, training and development 40% 29% 11 Mental heal
Slide 12: Employers want to improve their current position across wellbeing and career
Portfolio Employers want to improve their current position across wellbeing and career Percentage of employers looking to improve their benefits positions Financial wellbeing/ 1 short-term finances Financial wellbeing/short-term finances Mental health support 31% 39% Retirement plan/long-term financ
Slide 13: Top priorities when considering vendor partners to use for benefits
Admin & Top priorities when considering vendor partners to use for benefits Operations Enhanced employee experience 59% Enhanced Operational efficiency 50% 1 employee experience Lower-cost solution(s) 48% Demonstrated credibility 40% Ability to address a broad range of needs 39% Operational 2 effici
Slide 14: Measuring the effectiveness of benefits strategy
Measuring the effectiveness of benefits strategy How do employers assess themselves? Administration and operations 24% 45% 30% Portfolio 19% 53% 28% Financing 24% 50% 26% Employee experience 31% 44% 26% Analytics and reporting 31% 44% 25% Low Medium High Note: Percentages may not add up to 100% due