On this page we describe the manner in which Towers Watson Netherlands B.V. and Willis B.V. comply with the rules concerning controlled remuneration policies. These rules apply to financial enterprises within the meaning of the Financial Supervision Act (Wft), such as Towers Watson Netherlands B.V. and Willis B.V. (together referred to as WTW).
WTW Remuneration Policy
WTW employees receive a compensation package that is in line with the market for their specific industry and which, in addition to fixed compensation, includes variable compensation. By making a portion of the compensation variable, a link is established between the performance delivered and the compensation. The package (along with the secondary benefits) is aimed at binding employees to WTW for the long term, so that our clients can be offered continuity of our services.
The variable compensation of WTW employees depends, among other things, on the individual performance and the individual functioning of the employee. The individual bonus percentage depends on the employee's level and performance. In order to assess performance, individual objectives are formulated annually, divided into four categories, namely Clients, Financials, Innovation and Excellence, and People.
Broadly speaking, it can be said that individual targets and behavior are both of equal importance in determining someone's individual variable remuneration. As someone has/gets more experience, the weight will shift, from more executive to client-facing components within the individual objectives. Assessment of the extent to which behavior is in line with the core values is of equal importance to all job levels and is therefore a constant.
Within WTW, an assessment takes place at least twice a year (halfway through and at the end of the calendar year). The manager of the employee receives feedback from colleagues who work together with the employee in various areas. Together with the general (horizontal) alignment, an overall picture of someone is formed, on the basis of which the individual variable remuneration is ultimately determined.
Based on the above structure, the amount of the individual variable remuneration of WTW employees cannot be influenced by taking undesirable and/or irresponsible risks for specific customers. Only by performing better individually and behaving in accordance with our core values can an employee influence his or her variable remuneration, with the understanding that the other factors mentioned above also play a role in the level of the variable remuneration. Accordingly, the interests of the individual customer are not and cannot be harmed by WTW's remuneration system.
