REBA Inside Track: The tool you need to tackle multinational benefits head-on
Whether you’re a fast-growing multinational organisation with a handful of employees in a small number of countries, or a large global entity with employees across the world, creating an employee benefits strategy that can be applied in any territory is not an easy task.
With more reward and benefits professionals taking on multinational responsibilities, we know that managing rewards and benefits on a global scale is a multifaceted challenge.
By leveraging the experience of global benefits directors from a range of sectors, REBA’s latest research, in association with Howden Employee Benefits & Wellbeing, identifies the five key challenges facing organisations expanding into new regions. It outlines how to overcome these issues to create a multinational benefits design strategy which takes into account wider diversity, equity and inclusion policies, as well as environmental, social and governance requirements, and can be applied to any country, either locally or from a regional or global centre.
A multinational approach
The Global Employee Benefits Insights 2023 includes qualitative research from leading global employers. It considers how to get started with implementing a multinational benefits strategy that can support organisational objectives and the employee value proposition, and what to consider when building a multinational benefits structure.
Whether creating a new benefits structure or integrating an acquisition, understanding what you’re setting out to achieve, and the factors you need to consider, is essential. Only then will you be able to identify and select the benefits and technology you need to make your strategy a reality.
Finally, pulling together the business needs, the research considers how to navigate cultural nuances and the governance issues relating to multinational benefits.
The road to success
Regardless of size, the issues and questions employers need to tackle are often similar. From understanding the business needs and the purpose of the overarching multinational benefits principles, through to identifying and selecting appropriate benefits and navigating cultural nuances and governance requirements, the journey to globalisation is complicated but exciting.
By drawing on a series of interviews with multinational employers to help support globally expanding businesses with their benefits strategy, we hope we have created a toolkit of real-life learnings and best practice.
With thanks to both the employers and the Howden team who contributed to this research by sharing their approaches and experiences of the journey to globalisation.
In partnership with Howden Employee Benefits & Wellbeing
Howden provides insurance broking, risk management and claims consulting services, globally. We work with clients of all sizes to provide dedicated employee benefits & wellbeing consultancy.
