Business Globalization is an emerging trend that many successful mid-size employers are considering and executing in an effort to stimulate growth.
For organizations that are moving into new global markets, there are many issues, responsibilities and potential risks involved particularly as it relates to recruiting and managing talent.
Expanding into new and unfamiliar international markets often creates added pressure and uncertainty. Employers are required to learn about local regulatory requirements and quickly respond to comply with these laws. For example, many countries offer nationalized healthcare plans to local citizens and some of these plans include complex layers of mandated coverage. When recruiting local international talent, employers need to be aware of the minimum healthcare insurance requirements and consider offering supplemental coverage as a means to enhance employee coverage.
Progressively minded and high performing organizations recognize that in order to attract the most talented employees, action must be taken to offer benefits that go beyond the minimum local national compliance requirements. To that end, comprehensive analysis of local coverage requirements and the strategic execution of additional coverage ultimately helps organizations gain a competitive edge when recruiting talented employees.
At Optimal BenefitsTM, we can help your organization clearly understand local mandated healthcare coverage, compare with industry benchmarks and offer supplemental insurance plans that will help you gain a competitive edge. In addition, our benefit advisory services include global assistance with entity set-up so that you can focus on immediate market opportunities in these international locations.
Given the opportunity, Optimal Benefits can assist your organization with the analysis, design and implementation of international employee benefits particularly as it relates to the following areas: