Infographic: HR and Finance Partnership Opportunities - Towers Watson

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A new survey shows HR and Finance have similar views on the top risks of their employee reward programs, which include inadequate leadership development, retention and investment in talent.

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Infographic: HR and Finance Partnership Opportunities - Towers Watson

  1. 1. Optimizing Cost/Driving Performance A Joint Strategic Agenda for HR and Finance FINANCE HR Our rewards programs are instrumental in driving the behavior and actions needed for profitable growth Investment in rewards produces an acceptable ROI Rewards strongly tied to financial goals Rewards strongly tied to talent goals 57% 58% 61%56% Ensuring the right rewards to drive the right behaviors Improving ROI on rewards spending Creating alignment with financial and talent goals 74% 60% 64% 61% HR and Finance have a shared mandate: Reduce labor costs, sustain or enhance productivity, and keep the talent pipeline full — all at the same time. It’s a tall order that neither function can effectively do alone. Sustaining and improving performance needs to be a shared responsibility. A basis for collaboration Better linkage from programs to behaviors to financials is key to improving results Link rewards more closely to company performance 48%40% Link rewards more closely to individual performance 43%38% More clearly differentiate rewards across talent segments 56%37% Key future priorities Building a balanced scorecard bridges the functions Current metrics in use show gaps in scorecardCurrent metrics in use show gaps in scorecard Perceived collaboration gaps Tomorrow, partnership will expand — but in what direction and at whose impetus? Developing annual budgets for rewards programs 62%46% Setting workforce strategy 23%35% Dealing with talent management issues 20%32% 57%69% 48%56% 42%50% 6% More collaboration 70%49% No change Less collaboration 0%2% 25%36% 21%30% Financial Workforce None Customer Operational 21% People programs and process Financial performance Employee behaviors Customer behaviors DRIVE IMPACT AFFECT

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