Carol Baylis (pictured), total rewards director at Hitachi Data Systems, will speak at Employee Benefits Live on 26 September about the role of technology in employee benefits management.
Employee Benefits asked her a few key questions:
1. What has been your biggest challenge in 2013?
We have a global request to drive benefits savings without sacrificing the organisation, employees and future. It’s a real challenge. How can we make savings without actually making a negative impact in doing so? In particular, I’ve been asked for my region to identify one country where we can leverage the benefits plans to drive savings for Hitachi Data Services.
I’ve done a lot of work already in the UK with the benefits savings. Other countries in the Europe, Middle East and Africa (EMEA) region have very different benefits. For most of them, it is just a pension with life assurance and disability attached. It is really hard to find affective ways to make those savings without making a negative impact on the employee.
2. What issues or challenges is the industry currently facing?
For many people, auto-enrolment is a big challenge. I think, generally, with the pension changes that have come in over the last few years, the government, on one hand, is saying they want everyone to save for their pension, and on the other hand, are putting so many restrictions in place with regards to maximum amounts of pensions that can be paid in over a lifetime. It’s a challenge and it’s a contradiction. How do you make pensions attractive to employees?
3. What are the most important messages for people to take away from your session?
How technology can help with administration efficiencies and cost savings, as well as the challenges that come up with auto-enrolment, acquisitions and mergers, and how technology can help make those simpler and more efficient.
4. What do you most enjoy about your job?
It’s the variety. It’s working on benefits and compensation, and having the opportunity to work regionally and globally. It’s really, what I feel, is the best of both worlds.
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