Healthcare and flexible/hybrid working (43%) are deemed the most valuable benefits for multinational companies’ employee value propositions, given a high rating by 61 per cent and 43 per cent respectively, according to new research.
Data from MBWL International, the global consulting arm of Barnett Waddingham, shows global minimum standards are being applied across an increasing number of benefit plans, with flexible working and EAP the most popular, applied to 75 per cent and 66 per cent of employers participating in the survey respectively.
The survey received responses from 147 multinationals with employees in over 100 countries, representing 17 different industries.
The survey also found global benefits management and governance has become less effective and more challenging, and that ESG and DE&I continue to be important considerations for benefits strategies.
Cost and employee communication also continue to be significant challenges for employers.
Isabel Coles, head of international consulting at MBWL International, says: “Global benefits leaders are facing an ever-changing set of challenges, and we see their priorities are evolving accordingly. With the right strategies and governance, we believe there is great opportunity for these leaders to add tremendous value to their organisations and employees worldwide.
Paul Augeri, managing director and Global EB consulting leader at Milliman says: “Employee benefits remain critical to the employee value proposition worldwide, and increasingly challenging to get right. It is incredibly important for multinationals to review their approach to global benefits management and strategy, to optimize return on investment and maximize their limited time and resources.”
Amit Bhayani, senior consultant at MBWL International, says: “We recommend global benefits leaders stay attuned to today’s global and local benefits trends – including the influence of AI across benefit design, delivery, and utilisation, global minimum standards, and increased focus on providing flexible benefits/choice to employees.”
