We live in a increasingly global economy characterized by growing interdependence, integration and interaction among people and corporations around the world. The number of multinationals (corporations that operate in more than one nation at a time) has jumped from 7,000 in 1970 to 40,000 in 2000 to an estimated 50,000 today. Both the challenges and opportunities for multinationals are of course larger, exasperated by the sheer size and complexity of a worldwide marketplace.
It can be argued that Human Capital asset management is the critical challenge in any business model. In the global arena, employee and channel optimization is especially important. Brand image, increased customer equity and incremental expansion are at stake.
To offset the administrative complexities of recognizing employees across the world, smart firms are getting help from providers that have implemented (and tested) global award fulfillment delivery systems. The most successful method offers separate in-country award offerings that are culturally appropriate and reflect cost of living coefficients for employees in any nation. An in country solution manages taxes, shipping and service support at a localized level. Companies that use this solution are uniquely positioned to support award issuance in all global regions but in a cost effective and efficient manner. In effect by using this solution, they gain an aggregated and integrated answer for each of the countries they do business in without having to manage each country separately. This advantage helps them gain (and keep) the upper hand in the global battle for talent.
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