There are three strategic approaches most employers consider after they’ve investigated the eight elements of a successful global benefits program. It is also vital that senior executives agree with the approach up front.
The three approaches are: a global benefits approach, a locally appropriate approach, or a locally appropriate approach that meets minimum standards. In this post we’ll review the aspects of global benefit design.
The Global Benefit Design Approach
Global benefit design means the employer choses to offer a range of benefits that are provided globally, but local mandatory and expected benefits are added to the package.
The Up Side
- Employees across the globe are treated similarly
- The global brand, and staff moving across territories, are supported
- Global benefit purchasing power is possible
The Down Side
- It is expensive
- Some benefits may be inappropriate or not needed in some countries
- It may be difficult to purchase some benefits in some countries
If you have questions about your global employee benefits program Asinta can help. Send your global benefits questions to us and we’ll put you in touch with the appropriate Asinta Partner.