Global companies continue to refine their global policies to manage talent effectively, support strategic growth, consider individual/family needs and remain competitive in the marketplace. At the same time, they seek ways in which to provide sufficient benefits to attract and retain talent while avoiding frills and expensive exceptions. At TRC, we are most commonly seeing the following policy approaches to controlling assignment costs:
- Exercising greater discretion in selecting candidates and factoring in their need for support
- Applying a more limited cost of living allowance (COLA) policy
- Revising or eliminating foreign service premiums
- Developing an “expat lite” policy to include reduced benefits, using an efficient purchaser index
- Introducing a bare-bones, “essentials” policy while allowing employees to keep home country benefits and long-term incentives.