The Evolution of Employee Benefit Programmes in Asia
Over the course of the last 10 years, the face of Employee Benefit Programmes have changed drastically. Prior to the financial crisis, the “full package” is how we used to refer to the remuneration structure that started an expatriate assignment. This phrase meant that you were not a penny out of pocket for virtually anything – rent, car, healthcare, children’s education, a home-leave flight for the family in business class, electric and able bills, air conditioning and heating bills, or just about any other fixed expense. Employers also provided additional compensation if the employee accepted a role based in a third world country, also knows as a hardship posting. With every expense covered, expats simply paid for their social life and personal travels.
Employees had the expectation that their employer would provide for all treatment and care whilst employed with the company and there was little room for disappointment as this would risk a request to be repatriated home and the expense the company had borne to relocate the family for the role.
The company took care of everything in an effort to entice you abroad, however In 2008, the expatriate package changed very quickly. To continue reading, click here.