A strong global benefits strategy is the key to attracting top talent and keeping your workforce satisfied. Quality employees know what their individual needs are and what their time is worth, so it’s important for businesses to show that they not only understand their team’s value, but they also know how to position themselves as an attractive place to work. As the term “global benefits strategy” suggests, creating a benefits package requires careful planning to ensure employees’ needs are met, no matter where they’re located.
A global benefits strategy is a plan that aligns the goals and resources of the employer with the wants and needs of the employees. The end goal is to provide a relevant, comprehensive, and cost-effective benefits program. Some of the many benefits of a global benefits strategy include:
Imagine trying to harness these benefits without a strategy. You may have some successes, but it’s likely that you’ll overlook important details.
There’s more to rolling out a global benefits strategy than making a few high-level decisions and hoping for the best. It’s important to anticipate potential roadblocks and devise a plan for dealing with them. These are some of the most common challenges of developing a global benefits strategy:
You can overcome these hurdles with the right approach. Understanding your goals and priorities makes it easier to recover from a setback and create a well-defined global benefits strategy.
You don’t want just any global benefits strategy—you want a successful strategy that works for your unique employees. Here are some tips that can help:
No two companies will take the same approach to designing a global benefits strategy, but these general tips are always helpful.
Creating a global benefits strategy is a win-win. It benefits the whole company, as well as individual employees.
At Oyster, we can help take your strategy to the next level. Our Oyster Health makes it easy to find the perfect global health benefits plan for team members in nearly 200 countries. This allows you to hire and manage global talent in the same manner as local candidates and employees.
Our global employment platform is designed to enable visionary HR leaders to find, hire, pay, manage, develop, and take care of a thriving distributed workforce. Oyster lets growing companies give valued international team members the experience they deserve, without the usual headaches and expense.
Oyster enables hiring anywhere in the world—with reliable, compliant payroll, and great local benefits and perks.