Mobile expats miss out on benefits package

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International companies should take a holistic approach as survey reveals that mobile expats miss out on benefits package, according to Michael Thraves, Financial Planner and Head of Corporate Services at Guardian Wealth Management.

“It’s becoming increasingly apparent that expats who move from location to location are falling victim to the benefits package challenge as employers find it difficult to keep track of different jurisdictions and individual nuances.”

HSBC Expat A study of the benefits offered by international companies showed that one fourth had no policy in place for mobile employees or had to arrange a benefits package on an individual basis.

“There is a growing trend amongst mobile expats to focus on a benefits package. Moving around the world for a company requires deep commitment and in return, employees expect a benefits package that provides generously for them. Multinational companies should adopt a more holistic approach and employ the use of a central strategy that allows employees access to their benefits once they retire.

“Employers must sit up and recognise the demands of their employees or risk losing out.”

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