8 reasons to go global29.09.22
How do you know when it’s time to go bigger with your benefits offering? These factors can help you decide.
Global Benefits Director
The globalisation of business is big business – and with smarter tech facilitating communications with ease across multi-national organisations, there has never been a better time to unify a benefits and rewards offering.
Why is consistency so important?
We know that all employees expect a consistent experience from their company but the importance of keeping the same ‘identity’ across locations cannot be underplayed. Workers are demanding more from their employer: more relevancy, more flexibility and more cohesion – in all their rewards and benefits options particularly since the pandemic and in the wake of the Great Resignation.
What’s more, as companies increasingly offer internal mobility schemes, and opportunities to work at international locations, as well as the rise of the workation, a cohesive experience becomes even more important to the employee experience and underpins the employer brand. Our research also reveals that 86% of employees would like to be able to access all the benefits, content and resources that they get from their employer in one place.
Ready to rollout?
There are multiple factors at play when an organisation is on the brink of an upgrade to a global benefits platform, some of the most common reasons that businesses are ripe for a rollout include:
1) Headcount – so many new employees means it’s time to get the reward and benefits offering in order once and for all
2) Moving into new regions/ acquisition of new locations – scaling up needs a cohesive approach
3) Too many vendors – things are getting complicated, and one platform simplifies everything
4) Market readiness – it’s the right time for a particular region and a case of striking while the iron’s hot
5) Employer urgency – have there been more enquiries from your people? Keeping on top of demand is paramount in order to bolster the employee experience
6) Benefits – currently your offering is complicated and there is a need for a unified strategy
7) Employee feedback – what are employees wanting – rewards/ wellbeing/benefits/pensions? Now is the time to introduce the things your people really want
8) Employer readiness – growth of business demands a new solution – there is no time like the present to introduce and establish a dynamic new offering for your people
Every business has its own requirements. For some, creating a centralised employee experience for the current workforce, with scalability to support its future headcount is the way forwards. For others, fast growth means implementing new, user-friendly platforms to manage a rapidly evolving workforce that is spilling into new territories.
Our latest global benefits report gives you the essential steps you need to take to ensure a smooth, fuss-free rollout across global locations and reveals how others have managed the process too.
Whatever the practical reasons for needing a cohesive benefits and rewards platform, one of the key drivers in getting it right first time is the desire to meet the new demands of a post-covid global workforce – and that cannot be underestimated in the current climate.
What else can you expect?
There are additional benefits to having the right tech in place to facilitate the level of consistency expected by global organisations, such as easing the admin burden and helping retain and attract great people in an increasingly competitive job market. Indeed, effective digital employee platforms offer targeted relevant comms; benefits, rewards and wellbeing initiatives; and the all-important data to discover and respond to insights and help impact the bottom line. Garnering this information from across all locations will help fine-tune the benefits you offer, and can provide valuable insights into your people’s needs, demands and preferences.
Download the report here.
Paul joined Benefex from Mercer in 2019 with a wealth of international benefits experience, having worked with a large number of high-profile, multinational clients to review their approach to global talent and reward. He leads Benefex’s global benefits delivery team and he’s doing an excellent job of it, if we may say so ourselves. He is skilled in international risk assessment and management, legislative compliance, trend research, cross-border claims, and customer relationship management. AND, he can speak fluent French, mais oui!