Watson Wyatt Worldwide
July 28, 2011 – 11:22 am
Business Profile
Watson Wyatt Worldwide, Inc. (Watson Wyatt) is a global consulting firm that provides employee benefits, technology solutions, human capital strategies and financial and insurance services.
The Company has been in market since 1946. In 1958 B.E. Wyatt and seven other co-founders formed The Wyatt Company in Delaware. In 1995 merger of two companies that are Wyatt Company and a UK based company R Watson & Sons incorporated Watson Wyatt Worldwide. It is a public company and its share was traded on New York Stock Exchange under the ticker “WW “. The company has about 96 offices in 30 countries and has more than 6,600 associates worldwide.
The company has acquired several businesses worldwide some of them are as following.
• Watson Wyatt Netherlands – In 2007 the company acquired Watson Wyatt Brans & Co. (Watson Wyatt Netherlands), its partner in Netherlands.
• Watson Wyatt LLP – In 2005 the company acquired the WWLLP business. Both companies had jointly provided several services since 1995.
• Dr. Dr. Heissmann GmbH – In 2007 company acquired all stocks of Dr. Dr. Heissmann GmbH. It is a Germany based actuarial and human resources consulting firm that also have various subsidiaries in Austria, France, Ireland and Netherlands.
• WisdomNet – In July 2007 company acquired WisdomNet. It is a Denver based consulting and talent management solution firm.
The company has following segments.
Benefits Group
The Benefits Group provides consulting solutions in retirement, group and various healthcare solutions to customers. In fiscal year 2007 the Benefits Group reported approximately 59 % of total revenue. The Company provides various retirements and integrated consulting services for employers.
The Company helps customer on the design, financing, strategy, delivery, ongoing planning, communication, and management of welfare and health programs. The company provides services to various multinational companies.
Technology and Administrations Solutions (TAS) Group
TAS Group helps to customer in organizations optimization through human resources solutions and its benefit services. The Company offers administration solutions for retirement, benefits administration for health & welfare, administration for compensation, online communication, benefits portals and call center support. The company also provides administration, outsourcing, consulting and various technology services. In 2007, the TAS Group reported approximately 12% of the total revenues.
Human Capital Group
The Human Capital Group assists clients to make and implement various strategies for retaining, attracting, and motivating its employees. This Group focuses in five key areas: strategic reward, executive compensation, sales management and rewards, data services and organization effectiveness. In 2007, the Human Capital Group reported approximately 12% of total revenues.
Investment Consulting Group
The Investment Consulting Group assists to sponsors of pension plan and other clients of institutional investment that helps him to fulfill their investment goals. It provides various services like asset and liability modeling, asset allocation studies, investment policy development, governance, investment policy implementation, analysis of investment structure, and monitoring. In fiscal year 2007, the Investment Consulting Group reported approximately 9% of total revenues.
Insurance and Financial Services Group
The Insurance & Financial Services groups provide consulting advises to insurance companies and various other financial institutions on financial and strategic issues. The group provides various services such as business strategy for development that includes market studies and several business strategy designs, advice on various issues of financial management, such as value and risk management, statutory reporting, asset liability modeling, embedded value and various market valuations.
The company provides following services.
Communication
Watson Wyatt provides innovative, forward-thinking, award-winning communication solutions to the customers by deriving best out of investment in people, systems and programs. The company uses experts from global network in change management initiatives, communication that is web-based and techniques used in traditional communication.
Compensation
The Company helps its clients to assist in aligning performance based pay plans across organization to enhance value. Its compensation expert helps executives and BOD (Board of Directors) on compensation programs, which include cash and stock, linked incentives. The company also through its global Total Rewards approach assists in mixing non-monetary and monetary rewards and hence provides right pay to relevant people and thus help in alignment of company goals.
Data Services: This service is provided by WWDS (Watson Wyatt Data Services), which is a fully owned subsidiary of WWW (Watson Wyatt Worldwide). The company seeks various data, conducts analysis and publishes on-line survey reports.
Government Consulting: Government Consulting Services provide specialized services to fulfill the customer’s requirements. It combines the human capital practices from private sector with deep experience of government sector to meet customer’s unique needs.
Group Benefits and Health Care: Watson Wyatt is a leader in group benefits and health care segment. It provides consulting, advises to various clients on design, strategy, financing, communication, health management and welfare programs.
Human Capital / Organization Effectiveness: The company provides various human capital consulting solutions including Organization Measurement, HR Transformation, Talent Management and Compensation Benchmarking.
Insurance & Financial Services: Watson Wyatt provides independent and valuable actuarial advice on various aspects of general insurance and life assurance.
Investment Consulting: Investment Consulting help clients to develop efficient and disciplined investment strategies to fulfill client’s investment goals.
Mergers and Acquisitions: Watson Wyatt helps advisers and companies to solve their critical issues through negotiation, integration and acquisition process.
Multinational Consulting: Watson Wyatt offers international consulting services to help various multinational corporations. It provides global perspective on various benefits and human resources issues.
Retirement: Watson Wyatt provides advises on retirement plans and providing consulting and actuarial services for both defined contribution (DC) and defined benefit (DB) plans.
Sales Effectiveness: The company provides sales management processes to help companies in cash management, globalization and performance expectations.
Technology and Administration Solutions: Watson Wyatt helps organizations to optimize the benefits services and delivery of HR.
Software & Tools: Watson Wyatt offers various software and tools to interact and help the customers.