Respond to discussion post below:
One Global Total Rewards Plan Discussion
Jeffrey Schoff posted Jan 28, 2020 7:11 AM
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Cultural and local practices have a huge impact on how rewards and benefits are managed across the globe. In different parts of the world many factors play into what is an important benefit or reward. In the Military many different duty stations exist that have different benefits. To entice members to accept jobs in foreign or remote locations they offer substantial financial benefits to the member.
For example, if you are stationed in Bahrain, you are considered to be in tax free zone. This amounts to thousands of dollars in savings. In Italy for example, you are giving an extra stipend called cost of living allowance (COLA) that covers the difference in currency and the high utility rate in Italy. These are just a few examples at my organization.
As in my organization, MetLife also offers similar benefits for its employees worldwide. Velocityglobal (2017) mentions that the desire for great benefits is universal, every culture has different opinions in regards to what employers are required and expected from their employers. In India, many employers offer free lunch to their employees as a benefit. In Mexico, companies are trending towards benefits such as voluntary health programs and pet insurance programs. Wellness is also an important benefit in Australia, where companies are focusing on areas that accelerate recovery after an illness and focus on bettering “mind, body, and spirit.”
Another benefit you could offer is to promote the different cultures you have in your workforce. Ensure you utilize each culture to your advantage. Give your team opportunities to showcase their culture. Culture is a significant aspect of your team, and giving your employees opportunities to display it will go a long way in terms of morale and understanding international teammates Velocityglobal (2020).
There are many different ways you could offer benefits to global employees and in this day and age it is critical to the success of any organization in a growing global world.
velocityglobal September 12, 2017 How to Implement International Benefits for Global Employees retrieved from https://velocityglobal.com/blog/international-benefits-global-employees/
velocityglobal January 24, 2020 4 Tips for Communicating with Your Global Team retrieved from https://velocityglobal.com/blog/4-tips-for-communicating-with-your-global-team/
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