For international Human Resource Management purposes, there is another dimension to the responsibility of the organization to its employees on international assignments regarding the health, welfare and benefits management of people. The attraction and retention of talents in the highly competitive global marketplace demands more than salaries alone, but rather readily available worldwide medical coverage that forms one of the most important elements of an international compensation plan. Companies not providing good medical insurance for International Assignees can expect to suffer from higher turnover and lower productivity and a drop in the attractiveness as an employer.
Expat group medical insurance offers organizations a systematic and economical approach to manage all the overseas health care requirements of an internationally mobile workforce through one consolidated policy.
Providing expat group medical insurance as an add-on to a benefits package demonstrates an organization’s authentic commitment to employees health and welfare, positioning multinational firms to lure, retain and sustain premium expatriate talent that might otherwise be tempted to opt for services from a rival organization. International personnel research regularly indicates health insurance coverage to be high on the list of ex patriot employee prerogatives.
Providing expat group medical insurance gives organizations a meaningful competitive advantage in global talent markets while fulfilling their duty of care obligations to internationally deployed employees. Below is an infographic outlining seven key benefits of offering expat group medical insurance as part of an international employment package.
