Whether it is your company's first endeavor in global expansion or you've set up numerous overseas operations, determining what is required for your business in a new market can be overwhelming and time-consuming. Implementing statutory and non-statutory benefits is one of the most difficult tasks any HR department faces in its overseas ventures - albeit critical for success.
Some HR departments make the mistake of not aligning local requirements and expectations with the company's long term growth goals, resulting in penalties, unexpected costs and failure to retain employees. However, a global integration strategy that encompasses both local statutory benefits and integrates certain voluntary benefits across markets can pave the way for success - and help a company develop a dynamic, sustainable workforce.
For more information, please download our step by step guide to implementing employee benefits in Asia's key markets and contact us at +1 (973) 780-0105 or info@us.tricorglobal.com.