There are three strategic approaches most employers consider after they’ve investigated the eight elements of a successful global benefits program. They 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 the locally appropriate method. Note that it is vital that senior management agrees with the chosen approach up front before any work begins.
The Locally Appropriate with Minimum Benefits Approach
When you take this path it means a country specific benefit package is designed locally to match local legal requirements and employee expectations. However, a minimum standard is applied.
The Up Side
- The benefits match local market needs.
- Minimum benefits provide a global approach to your company’s benefits strategy.
The Down Side
- This approach is administratively complex.
- Globally, staff will be treated differently.
- It’s more expensive than ‘local only’ approach.
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.