| Navigating turbulent waters |
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"Managing risk is very important for us. We wrestle with every eventuality and put all the lessons and building blocks in place before setting sail. By the time the starting gun goes, I have always done the race many times in my head."
The film of Pete Goss sailing through a storm used to launch the subject of risk at theGathering felt particularly appropriate.
Hewitt Global Consulting President Yvan Legris had already told delegates: “As we navigate the biggest economic storm in our long-term history we know there are difficult times ahead. The decisions we will all make in the next weeks and months will prove whether we are winners or losers. Organisations are likely to be different. Speed of execution will be very important. We must ask ourselves whether we have the mechanisms and agility to take advantage of opportunities in the next few months“.
Our speakers reviewed some of the main longer-term trends having an impact on business, such as significant shifts in demography and the fast-changing regulatory environment. The conclusion was clear: with risk comes opportunity. However, both Finance and HR must be managed with rigour and strong risk management tools to navigate turbulent waters successfully. |
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The Risks and Opportunities of Managing Human Capital |
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| Hewitt HR Consulting leader Jamil Husain believes strongly that Human Capital risk management should be used as a focus for innovation. He stressed that one thing HR and Finance must have in common to work together efficiently is data. An HR R&D function could be key to applying financial management and risk practices to the way we manage human capital data in the future. |
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| Risk and Retirement, exit is not the only option |
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| Kevin Wesbroom, Head of Global Risk Services at Hewitt, highlighted the very real risk attached to corporate pensions - a point well illustrated by Robert French, Pension Risk Manager at British Airways. Kevin examined some of the risks to be managed in the years ahead – and presented some ideas for future solutions. |
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| The Pan-European Pension |
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| Hewitt’s Leonardo Sforza, Head of Research and European Affairs and Andrew Warwick-Thompson, Defined Contribution Services Leader, mapped out some of the opportunities created by new legislation for companies to establish pan-European pension schemes. For the first time, it is possible to shop across Europe and design your own ‘best of breed’ pension offering a perfect match for both organisational and employee requirements. |
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