Benefits And Benefits Of Employee Benefits

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I’ve chosen the topic of employee benefits and the varying considerations given to benefits as part of total compensation around the globe. What are the issues to be considered? What about the MNE employee?
The content of this paper includes key excerpts and a condensation (compacted by >80%) of current knowledge regarding the administration of employee benefits as published by McGraw-Hill 2011 in “The Handbook of Employee Benefits: Health and Group Benefits, 7th Edition. Jerry S. Rosenbloom, editor”. This is the reference textbook for the International Foundation of Employee Benefits Plans (IFEBP), and Wharton (University of Pennsylvania), for those looking to certify as “Certified Employee Benefits Specialists” (CEBS).

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This process entails a balancing act among:

• “Local benefits objectives with local and global business objectives and philosophies
• Differing competitive environments and economic realities
• The cost and benefits available from old age, survivors, and disability programs with supplemental retirement and capital accumulation plans
• The cost, quality, and availability of national health insurance programs with emerging private medical practices in many countries
• Changing regulatory environments that impact the design, delivery, and cost of supplemental benefits plans with local and global benefits objectives”
• ..(Rosenbloom 2011)

Added to these local concerns, individual differences may need to be accommodated according to where the employee was hired and where they will be assigned. Benefits that meet the employee’s needs in the home country may not be portable nor meet their needs in the assigned country.
Local issues include the following:
1. Government-required benefits.
2. Government-provided benefits.
3. Legal/Regulatory environment.
4. Taxation of benefits.
5. Local economic conditions
6. Labor unions & labor environment.

Coverage amounts and funding: Common benefits offerings include retirement, death,
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