Towers Watson and Vebnet have announced a formal partnership in Latin America.
The partnership combines Towers Watson’s knowledge in benefits, investment and communications consulting with Vebnet’s technology to support organisations that need portal-based flexible employee benefit schemes.
The two organisations already have a similar partnership in Asia Pacific.
Towers Watson will combine Vebnet’s Fix and Flex technology with its own communications programmes to deliver an employee benefits strategy that can include communication, total reward statements, flexible benefits plans and online payslips.
The technology can be deployed in multiple languages and currencies. It is currently used by 260 organisations, covering 400,000 employees, in 20 different countries.
The partnership is specifically designed to assist organisations facing any of the issues prevalent in Latin America including:†
- 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;
- Becoming an employer of choice with a differentiated reward and benefit strategy.
Segundo Tascon, Latin America benefits director at Towers Watson, said: “The increasing diversity of today’s workforce makes flexibility an essential component of benefit provision and total rewards programmes. Together, Towers Watson and Vebnet will offer a fully integrated yet highly configurable solution to [employers] and their employees.
Gerry O’Neil, chief executive officer at Vebnet, added: “We are very pleased to partner with Towers Watson and bring our clients a solution that will address a number of key employee benefit issues and deliver innovative market-leading and truly differentiated benefit solutions.”
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