As benefits plans evolve and change in response to both internal corporate realities and regional variables, communications play a critical role in obtaining company-wide understanding and synchronization. Almost two thirds of responding GBGH members (65%) indicated that their companies communicate internally regarding governance issues.
Most members indicate that corporate HQ has a compelling need to keep regional and local finance and HR offices informed—whether annually or as needed—in the aftermath of reviews or when changes are made in areas such as company philosophy, overall governance structure, benefit design and matrices such as approval procedures. In fact, the importance of communications can be seen vividly during the course of the approval process.
Based on member interviews, some findings about different aspects of communications include the following:
For Global Business Group members, it is clear that communications occur more on an as-needed basis than at specific intervals or in any kind of formal, structured way.