How to create a wellbeing strategy that is both personalised and global
Global platforms, local implementations
For HR professionals working for multinational companies, the key lies in adopting a global-but-local approach.
A Forbes article called The World Is Not Global, It's Local outlines the importance of this approach, sharing that the key to business localisation is to have global platforms with local implementations. “For HR software, this means implementing global systems for HR, recruiting, and learning which are designed to enable local customisation”.
The article also refers to a study on best practices in HR and found that, “while companies want order and consistency around the world, the highest-performing companies don't standardise everything: they localise”.
This means offering localised benefits with local suppliers in the relevant country.
Personalised benefits
Localisation goes hand-in-hand with another key component for an effective wellbeing strategy – personalisation.
Every day we are all bombarded with an overwhelming amount of information. The only way we can process all this information is by filtering what is relevant to us. This is where personalisation plays a big part.
When employees view their employment package and benefits offering, they should see information and offers that are specific to them, based on their own unique situation. This includes any geographical and generational considerations.
For wellbeing benefits to be of use to employees, they must be useful to every individual.
Putting it all together
To create an effective global yet local, personalised wellbeing strategy, think of the following:
- your organisation makes a global decision to offer wellness benefits to every employee in each country
- the wellness benefits offered in each country are localised based on the local market and fulfilment is made through local suppliers and vendors
- finally, employee benefits are personalised when employees are given the flexibility to choose, for example, how they wish to spend their benefits budget or which supplier or doctor they want to visit.
Flexible budget models
One practical way of offering a personalised wellbeing strategy is through the implementation of a flexible benefits budget model. A flexible benefits budget offers every employee a fixed amount, which they can choose to spend how they wish based on their own life circumstances and needs.
A flexible budget model satisfies the global-but-local strategy by offering localised benefits through local suppliers.
Flexible benefits plans
Another way for multinational companies to offer a global wellbeing strategy that is personalised is through a flexible benefits plan.
Whether employees are given the ability to choose their preferred supplier for healthcare or childcare services, or given a choice to choose their own pension or insurances, flexible benefits plans allow employees to personalise their benefits offering to match their needs.
Like flexible budget models, flexible benefits plans enable multinational companies to address the needs and preferences of each generation and in each country.
At a time where companies are competing to attract and retain talent like never before, offering a wellbeing strategy that not only meets the needs of each employee but in each country is imperative.
This article is provided by Benify.
In partnership with Benify
Benify offers the market's leading global benefits and total reward platform.
