Will health reform bring Finance and HR closer together?
If your Finance department is planning to spend a lot more time with the folks over in HR in the future, you’re not alone.
At least that’s what a recent Towers Watson/Forbes Insights study revealed.
According to the study, the effects of the healthcare reform law are likely to result in a more collaborative relationship between the two departments.
Currently, 81% of HR execs and 55% of finance execs believe their firm’s benefits/rewards strategy is led mainly by HR.
But moving forward, 38% of finance execs believe that their department will work more closely with HR when its comes to a benefits/rewards strategy.
Just 24% of HR execs see a more collaborative relationship with Finance in terms of benefits strategy, however.
No surprise here: The most important factor for both groups in making decisions about health reform was cost – with 82% of HR execs and 69% of finance higher-ups emphasizing price in this area.
To view the complete study, Joining Forces: Forging an HR/Finance Partnership to Shape Reward for the Futures, click.
- Share on
Free Training & Resources
White Papers
Provided by Anaplan
Webinars
Provided by SkyStem
Further Reading
As employers finalize their 2026 budgets, rising healthcare costs are forcing tougher decisions in financial planning and employee benefits...
CFOs and benefits professionals can only do so much to influence employees to invest in a company 401(k) plan. So-called influencers are of...
Earned wage access, also known as on-demand pay, is being leveraged by your peers as a key recruitment and retention tool for workers who m...
Financial wellness programs often sound expensive or complex, but the truth is that one simple step — helping employees better unders...
Layoffs, inflation, AI … these are just some of the factors making employees feel more stressed about their jobs and career future. S...
In April, Arkansas Governor Sarah Huckabee Sanders signed legislation making it illegal for Pharmacy Benefit Managers (PBMs) to own or oper...
