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Insurope Montreal May2012 Modified Jun


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Global trends affecting the provision and design of employee benefits for a mobile workforce

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Insurope Montreal May2012 Modified Jun

  1. 1. Trends Affecting Mobility and the Impact on Employee Benefits Paul Pittman, The Human Well © 2012 All Rights Reserved © 2012 All Rights Reserved Tel: 905905 842 7916 +1 842 7916
  2. 2. Emerging Business Trends• Businesses continue to progress toward a global focus – political boundaries are blurring from a management perspective• However, Government policy will remain an important factor affecting immigration, education, social planning• Competition for talent is the #1 challenge globally – the need for employee mobility is rising, while supply declines• Home country “discrimination” disappearing• Technology will play a larger role and offers new options but brings new challenges• Developing countries more relevant than ever before © 2012 All Rights Reserved Tel: 905 842 7916
  3. 3. The New Employee Population• View international assignments with less enthusiasm – they don’t have the cache that attracted boomers• Do not recognize borders as boundaries – have already travelled extensively and are world citizens• Family and lifestyle are more important as they reach mid-career than seeing the world• Generational cohorts have differt needs on assignment and seek far more information – nothing left to trust• Benefits moving from Insurance to life style• Service through technology expected © 2012 All Rights Reserved Tel: 905 842 7916
  4. 4. Future Assignments• There will be more assignments but lower key and less complex• Traditional “build-up” approach will disappear as economies and tax systems continue to harmonize• National benefit structures both current and post employment will take longer complicating benefits admin• Transparency and demands to provide comprehensive coverage will lead to clear separation of mobile and domestic benefit philosophies• Assignment locations are likely to become less hospitable• Will include more personal choice and flexibility © 2012 All Rights Reserved Tel: 905 842 7916
  5. 5. Evolution of Benefit Plan Coverage FROM TO • Home Country or • Comprehensive Local • Host Country or Plan or • Home and Host • Global Plan Country or • Greater choice and • Reimbursement or flexibility • International Plan • Focus on short term • Focus on access and long term protection protection © 2012 All Rights Reserved Tel: 905 842 7916
  6. 6. Design Considerations• Will reflect your organization’s unique profile• Different generations with distinct needs• Access to services e.g. Life style features, alternative therapies, medi-tourism• International EAP and language support• Security and Evacuation• Carrier selection will be based upon service, risk and design © 2012 All Rights Reserved Tel: 905 842 7916
  7. 7. Successful Employers• Evolve remuneration and benefits delivery in response to changing environment and employee populations• Plan mobile talent attraction and utilization strategically• Avoid traditional thinking to differentiate their employment brand and attain superior results• Collaborate with mobile employees to build better delivery mechanisms• Improve transparency and depth of available information• Harness contemporary technology for assignment application © 2012 All Rights Reserved Tel: 905 842 7916