In 1988, The New York Times published an article predicting that in the years leading up to 2000, U.S.-based companies would rapidly expand into the global market. At the time, global employee benefits weren’t a major focus. However, the New York Times article suggested that the global economy was on the brink of significant change. Today, companies like Grayce help employers adapt by providing comprehensive family care solutions, ensuring employees receive the support they need in an evolving workforce.
No one could have foreseen how technology (hello, Zoom meetings, and social media) would make international growth possible. Indeed, no one could have imagined how quickly businesses would expand into every continent and become internationally intertwined.
The U.S. Bureau of Economic Analysis reports that since the turn of the century, multinational employment by U.S. parent companies has increased by nearly 15%. The number has increased rapidly in the last five years, averaging over 2% year-over-year growth.
This global growth is excellent for businesses and employees. Still, navigating a global workforce can be challenging, especially regarding international employee benefits.
HR leaders are facing the challenge of finding global employee benefits solutions to align with the needs of a multinational workforce. As you can imagine, an employee in India has very different needs than an employee in Indiana, and so on.
The important thing is that while all employees need benefits, their needs are not universal. The benefits that employees need vary greatly depending on various factors, including cultural, societal, and geographical differences.
DocuSign partnered with Grayce and used global employee benefits strategies to attract and build a global workforce. As companies like DocuSign navigate the needs of employees around the globe, they are looking to find global employee benefit solutions that align with their vision of supporting all employees, no matter where they live.
Most countries operate on a 40-hour workweek, but some (like specific sectors in India) work as many as 50 hours a week. Other countries (such as Denmark) have adopted a 32-hour workweek. This variance means employees in certain countries and cities need different paid leave policies.
Another example is that some companies in Europe and the U.S. have adopted “Unlimited PTO” policies. These policies assume that employees will take the time they need. This works great in many places, but one employee, speaking anonymously, explained that in her culture, time off is considered an earned perk. So, if employees in her office were given unlimited PTO, they would likely take none, leaving them prone to burnout and stress.
Standardizing leave time is impossible and unproductive. Instead, companies need to assess the needs of their global workforce on a more personalized basis to ensure that each employee has the leave they need to be productive at work and home.
In addition to leave time, health care is another benefit that varies dramatically and is difficult to standardize across the global employee benefits landscape. Excellent health insurance is often cited as a top priority for U.S.-based employees. For these employees, employer-paid health insurance is a must-have benefit. In countries that have universal health care systems, employer-paid health insurance is not only unnecessary, but it doesn’t exist.
Insurance and healthcare systems vary significantly worldwide. Grayce member Jubin described trying to find appropriate health care for his parents, who lived in India. It was hard because everything in India differed from the United States. Their hospitals had different clinical hierarchies; health care was paid for differently, and transportation to appointments was managed differently.
Jubin’s Grayce Care Partner found healthcare solutions for Jubin’s parents even in India, making it possible for Jubin to help care for his aging parents from thousands of miles away.
With our rapidly expanding multinational workforce, many employees live outside their country of origin. Navigating a new healthcare system can be daunting, so employees must have the resources and support to do so. Additionally, these employees often live half a world away from their families, so that they may need multinational support.
Family care benefits like Grayce have become essential to global employee benefits packages, but different cultures have different approaches to family care. Caregivers who care for young children, older adults, or both have very different needs depending on where they live.
New parents are entitled to months of government-paid family leave in some countries. As they navigate this leave, they may need access to educational resources, support groups, and return-to-office support. In other countries, paid leave is much more minimal, so these parents need help securing childcare and making an early transition back to work.
When caring for older adults or those with chronic illnesses, caregivers must navigate health care appointments, transportation, hospice care, and paid time off. As you can imagine, these systems and resources are very different in different parts of the world, meaning adaptable family care benefits are essential.
These factors demonstrate the need for adaptable resources that address the concerns of multinational employees so that they can do their best work regardless of where they live.
When the New York Times predicted rapid global growth, it couldn’t have imagined the world we live in now. The last 40 years brought exponential changes–and we imagine the next 40 years will get even more.
We are so proud at Grayce to be at the forefront of these changes. We have carefully considered our current marketplace, and our platform is poised to support an ever-growing multinational workforce. This will allow companies with multinational offices to provide meaningful support for each employee’s needs, regardless of where they live and work.
