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2012 Financial Plan

2012 Financial Plan. Watkins International Corporation. By: Brittany Sinzinger. A Year of Change….

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2012 Financial Plan

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  1. 2012 Financial Plan Watkins International Corporation By: Brittany Sinzinger

  2. A Year of Change….. Watkins International Corporation will be revising our pension program, to those already retired, as well as our current employees. This plan is to be implemented as of January 1, 2012. The reason behind this change is to ultimately serve our employees, to the best of our abilities, financially and professionally.

  3. Changes • A 5% cost of living increase for all present retirees worldwide • The elimination of pensions for all new employees hired after January 1 next year - These people will be eligible only for 401K plans • To trim costs, a special "early-out" option will be offered for staff who are at least 50 years old with 20 years of service

  4. Audience(s) • The new plan will impact all retirees of Watkins International Corporation as well as all 50,000 current employees, internationally. • Customers • Shareholders • Media- The media might see this as an opportunity to report news about a major corporation. They are an important aspect to keeping the company’s name in a positive light. • Related Companies- Other companies might see this as an opportunity to mimic our company’s plan, if it is successful. • European Unions • General public

  5. Objectives • To provide the best service to all of our employees, customers, and shareholders • Stay loyal to our company and employees • Stay open and honest with our employees, in order to increase teamwork and loyalty • Improve the care for our employees: during and after their employment with our company • Improve the care for our current retirees

  6. Our Goal Companysurvival Better serve ourcustomers Ensurefinanciallystability in ourpast and presentemployees Cutcosts and losses

  7. Tools for Communication • 401 K packets for employees and shareholders • Financial future handouts • Financial plan/401 K information on company • Letters to current pension holders • Letters to those over the age of 50 • Webcam conferences • Press Release • Surveys- These will be sent out after the implementation of the new system.

  8. Possible Issues Communication differenceswith international employees European Unions General Public Reactions Currentemployeereactions

  9. Timeline Plan

  10. Evaluations Surveys- Surveys/questionnaires will be sent out to all employees and retirees. It will ask them not only how they feel about the new plan, but will also ask them about the implementation of the new plan and how well it was communicated.

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