Address expatriate benefits with solid help and resourcesExpatriate compensation for overseas employees is complex at best. There are companies who can handle both expat compensation and expat benefits professionally and efficiently, making it a great deal easier for the employee to get business done for you.
Not only do expatriates face the challenges of being away from family and friends for long stretches, when expats do get to talk to family members an friends, it is typically at odd hours or through static-filled phone calls. The cost of managing expatriate benefits should include compensation for both their work while on the job as well as the challenges they face outside of their work environment, including phone and video technology for communicating with family in the U.S.
The key to handling expatriate compensation is to recognize the challenges expatriates face, and compensate accordingly. Weigh the following when you put together expatriate compensation packages:
1. Internal versus external support for expat employee benefits;
2. Foreign laws and regulations for expat compensation; and
3. Salary hikes in place of complete expatriate compensation packages.
Offer solid expatriate benefit management
Provide help with foreign health care in expat compensation packagesIn a survey of at least 700 expatriates, 55% felt a lack of health care support hindered their job performance and peace-of-mind. If an expat isn't feeling well or is battling ongoing health issues, chances are it will have a dire effect on work performance. Turn to well-established benefits specialists for medical care and compensation. Offer comprehensive packages and include coverage for office and emergency visits. For expats who spend more than 2 years at a time overseas, find a package covering intensive care and transplants.
Find expatriate salary information onlineSalary is the deciding factor when it comes to making the decision to work in another country. When employees leave home, they leave behind family and friends for foreign customs, and they are typically well compensated. If you decide not to offer a benefits package, you can handle expatriate compensation with salary as long as you offer some other kind of support system.
- Select an expatriate medical package that covers expenses in both the U.S. and abroad, in the event the expatriate needs care when returning for holidays or family visits.
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