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When employers operate across national borders, financial compensation is relatively simple. Software can effortlessly convert currencies and send payments around the world at the snap of a finger. But benefits packages for a global workforce? Well, they’re a bit harder to translate across international borders.
If you’re struggling to provide perks for your global workforce, here are some tips to help you craft the best benefits package possible for everyone on your team.
Centralize Your Tech Stack
Before you start strategizing about a benefits package, make sure you have a solid platform in place through which you can run your global compensation activity. Distributed HR provider Oyster refers to this as a “global employment platform.”
A “global employment platform” is an all-in-one solution for distributed companies that want to compliantly hire, pay, and provide benefits to talent around the world. Compensation and benefits are just one piece of the employment puzzle. Why not centralize your tech stack and use one solution to help with hiring and paying your team, too?
A global employment platform streamlines everything from onboarding to payroll. In essence, it creates a central hub through which you can funnel the bulk of the compensation and benefits you offer to your employees. While it isn’t technically necessary, having this in place beforehand is useful.
If you plan on expanding your team around the world quickly, a sprawling tech stack can definitely slow you down. Laying a strong foundation in the beginning can be a game changer!
Remember That Not All Benefits Are Created Equal
When creating a benefits program designed to cross national borders, it’s important to consider each country and culture you’re working within. Something that is considered a benefit in one place might be an assumption in another or even an unwanted or unnecessary luxury.
HR Morning provides a good exam… Read More
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