For a global benefits programme to be effective it is critical to ensure you are partnered with a consultancy that has global reach.
The procurement and placement of multinational benefits requires a number of key competencies that few multinational benefits consultancies can provide, including:
- understanding the statutory framework and social security
- understanding the 'market norms' for benefits provision
- having the global reach and bargaining power to broker the best terms and the lowest costs
Without these, global operating expenses increase dramatically and organisations fail to be competitive. As a result, multinational companies are more frequently seeking out one central point of contact to procure and manage their benefits locally and in their offices around the world.
When it comes to the process of multinational procurement, it pays to partner with a consultancy with global reach and market experience, local-level expertise and bargaining power.