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During the contract renewal process, companies can take certain steps to maximize their provider relationship for even greater business and cost impact. One of the keys is to start the process early—about 15 to 18 months before the contract expires to allow ample time for review, and a transition to a new provider if necessary. Another key step is to review all services
to determine if they still meet your organization's needs, or whether some should be eliminated or new ones added. Be sure to check that your contract has all the latest technology offerings and that fees are in line with current market pricing. Finally, remember that a spirit of collaboration with the provider during renewal will lead to more creative and flexible solutions. For more information, visit
www.hewitt.com/renewal.
Asia's strong economy continues to sustain healthy salary increases across much of the region, according to Hewitt's
Asia-Pacific Salary Increase Survey
for 2005-2006. Employers across 11 Asian markets reported increases for 2005 as high as 13.4%
in India and 8.1% in the Philippines. The trend is projected to continue,
with salary increases for 2006 estimated as high as 14% in India, and 8.1% in both the Philippines
and China. While Korea, Malaysia, and Thailand expect salary increases for 2006 in
the 5% to 6% range,
economic conditions in Japan and Hong Kong
are keeping salary increases to 2.8% and 3.4%, respectively. A
more comprehensive report on Asia-Pacific salaries can be found at
www.TotalCompensationCenter.com.