Willis Towers Watson Launches New Software Product for Compensation Professionals

ARLINGTON, Va., Feb. 01, 2016 -- Willis Towers Watson (NASDAQ:WLTW), a leading global advisory, broking and solutions company, today launched Willis Towers Watson Compensation Software. This solution is an industry-first software offering that enables organizations worldwide to manage compensation programs more efficiently by allowing users to fully integrate survey data, and job-leveling and global grading information.

“Effectively managing compensation has never been more essential,” said Max Caldwell, Willis Towers Watson’s global HR Software leader. “But many organizations access market pay data, and design job and salary structures using an assortment of databases and tools. Now there’s a better way.”

Willis Towers Watson Compensation Software is a fully integrated global compensation product building on the market-leading REWARD software. It includes a number of features that provide compensation professionals with enhanced usability and efficiency:

• Enhanced market pricing: Compensation survey libraries help market-price jobs consistently and efficiently; survey search capabilities will find the right matches with minimal effort.
  
  
• Improved job leveling: Users can determine the relative value of jobs in the organization through a globally applicable, culturally neutral job evaluation process.
  
  
• Leveraged salary structures: The software uses job-leveling and job-pricing results to develop and maintain salary structures within the organization that are both externally competitive and internally equitable.
  
  
• Comprehensive cost analysis: Bring-to-target analyses and merit matrix wizards help conduct cost-impact analyses for proposed compensation program designs.
  
  
• Advanced reporting and insights: This feature enables more control of compensation data with advanced reporting and analytics, and also modifies standard reports to meet specific requirements.

“We’ve developed this enhanced software based on the needs of compensation professionals,” said Caldwell. “We spent hundreds of hours testing and refining our solution with client users and our reward experts. The result is a powerful, intuitive and timely solution. In fact, a recent client survey showed that nearly 45% of the survey’s HR software users are considering purchasing or upgrading their software in the next one to two years.”

“Willis Towers Watson is really advancing the efficiencies of compensation management software while continuing to elevate its products for their clients. Replete with a new capability for guidance in the compensation processes, it comes as no surprise this software received the ‘Hot’ rating, for the highest level of excellence, in our Value Index research,” said Mark Smith, chief executive officer and chief research officer, Ventana Research.

About Willis Towers Watson

Willis Towers Watson (NASDAQ:WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

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