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Employee Benefits Risk Management 2020 – the importance of collaboration
November 18, 2020 - November 19, 2020
As the pandemic continues to roll on, employers have been challenged with new ways of working. For many the question remains: what will happen next? And how will that impact the organisation.
Come what may, there is unlikely to be a return to the “old days” of pre-Covid and companies will be looking to reshape their organisations. Key to their success will be the ability to be flexible and agile. For many this will include a look at their employee benefits and reworking their offerings.
However, other issues have not disappeared – the ‘battle for talent’ continues to increase and multinational companies are waking up to the fact that employee benefits need to be procured, organised and managed in a more consistent and cost-efficient manner than in the past.
It is increasingly clear that most benefits can be organised in one seamless and centrally managed global insurance programme that ensures that all benefits are procured and managed in the most efficient and cost-effective manner possible.
The key to making this work is effective collaboration between HR, risk and insurance management and other departments such as legal and compliance. It is also about understanding and the sharing of knowledge.
For this reason, Commercial Risk, supported by a number of European risk management associations as well as the International Employee Benefits Association [IEBA] will bring together a group of experts to discuss why it makes sense to procure and manage employee benefits within a centrally managed global insurance programme and how HR and risk and insurance management teams could and should work together.
This virtual conference held over two days is designed to provide attendees with education focussed sessions and practical workshops enabling them to gain a better understanding of the importance of collaboration to ensure high quality of service delivery and, of course, achieve significant cost-savings.
What has the response been from business, what has been highlighted and what need to happen next?
How have companies responded to these extraordinary circumstances brought about by Covid-19 and the lockdowns to maintain business continuity?
What have we learnt about the risks to business associated with mass homeworking and people not used to working from home on a sustained basis?
Why do we need to take on board and share these learnings and how can we use the experience to build sustainable resilience and why is collaboration important?
How important is it for leaders to be aware of different home working situations and condition and the risk to the wellbeing of their teams and employees
A more agile and flexible approach to work life has an impact on leadership - how are corporates going to minimise associate business risk and come out on top?
This keynote address will explain the importance for firms to adopt a talent driven approach and the requirement for HR roles to be elevated within the corporate chain in order to manage talent. It will also explore the need for adequate risk management with a People Risk Reporting Framework.
What was the role of the HR team and the risk management teams?
How are HR and risk management departments working together to manage employee benefits?
What opportunities can this offer and how is the process best managed?
What challenges have we seen for HR executives and for risk management executives?
Who needs to lead the process and hold ultimate responsibility?
What lessons did they learn along the way/what would they do differently?
How can HR managers work with risk and insurance managers to achieve the best risk financing result for the company and for employees?
Why could and should employee benefits be included within the global insurance programme?
What is a global programme, how do they work and why does adding employee benefits risks makes sense?
Why do companies use global programmes to centrally purchase and manage their property and casualty risks rather than allowing local managers to buy coverage locally?
What risks are typically included within global programmes and which are typically excluded and why?
How are global programmes typically structured to achieve maximum coverage at minimum cost?
How effectively companies manage their risks often separates successful companies from those that fail. Therefore, corporate governance is viewed as increasingly critical to a company’s long-term success.
Annual costs of benefit programmes and legacy liabilities often make up a significant portion so it is surprising that boards and senior management of multinationals are concerned about the increasing costs and risks of their global benefit programmes.
The impact of economic downturns in recent years on pension liabilities, rising costs of healthcare and government legislation have driven many companies to consider transferring benefits related risks to third parties and/or to employees.
What is good governance and how should it be managed and measured?
What key challenges are companies facing in managing their global benefit programmes? Are the relevant processes in place? Is the relevant information and benefits data available? What are the execution challenges?
Speaker information will be announced at a later date.
For sponsor or speaker information, please contact Stewart Brown [email protected]
For speaker opportunities, please contact Stewart Brown [email protected]
For sponsor opportunities, please contact Stewart Brown [email protected]