Watson Wyatt releases Western Europe updates
26 August 2008

Written by Sophie Baker

Financial consultant Watson Wyatt has published the latest editions of its employee benefits and employment terms and conditions for Western Europe.

The annual reports are in their 35th and 34th editions, and are references for executives with management responsibility for European or global operations.

Covering 19 countries – Austria, Belgium, Cyprus, Denmark, Finland, France, Germany Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK – the reports are aimed at ensuring employment packages are customised according to local legislative and cultural environments.

Karin Bogart, consultant at Watson Wyatt and editor of one of the reports, highlighted the importance of addressing demographic ageing and its impact on the workforce. She said: “Europe is facing a growing shortage for high-skilled labour, especially in the technology and engineering sectors. With such a shortage, will Europe be able to sustain global competition with countries such as China or India?”

Senior consultant Luc de Wée added that Western Europe is moving towards a multi-pillar pension system, such as that already in place in Eastern Europe: “It is obvious that time will be necessary for the appropriate legislation to evolve, but the spirit has always been there and this is certainly the trend for the future. Therefore, the conversion from what applies today to a future multi-pillar pension system will not be straight forward, but it is very likely to happen.”

Watson Wyatt also produces Eastern and Central European reports, and is developing combined Benefits and Employment Conditions reports for Middle Eastern and African countries such as Egypt, Bahrain and South Africa.

The Western Europe editions of the Benefits and Employment Terms and Conditions can be purchased for €1,850 each from Watson Wyatt Data Services at customerservice@watsonwyatt.com.