Multinational companies (MNCs) operate on a global scale, traversing diverse cultures and navigating unique laws and customs. Amid this diversity lies a common thread: the fact that many team members are also parents.
As forward-thinking companies recognize the importance of work-life balance, they may offer a range of family-friendly supplemental benefits tailored to support parents. These benefits not only attract and retain top talent but also promote workplace satisfaction, unity and productivity.
In the first blog post of this series, we discussed statutory parental leave. In this second installment, we will now delve into some of the top supplemental benefits most appealing to parents.
Top supplemental benefits that are most appealing to parents
Fertility support: Fertility issues can be a significant source of stress for parents. Many companies offer fertility support programs that include counseling, fertility testing and financial assistance for procedures like in vitro fertilization (IVF). Such programs can help workers navigate this complex and often expensive process – making it easier for them to balance work and family obligations.
Supplemental medical benefits: MNCs may look to offer more family-friendly supplemental medical benefits. For example, they can choose plans that offer additional coverage for pediatric care, immunizations and mental health services. In some markets, they may also offer flexible spending accounts or health savings accounts that enable employees to pay for eligible expenses with pre-tax dollars.
Topping off salaries during statutory leave: Paid parental leave is increasingly becoming a standard benefit for workers worldwide. However, in some countries, statutory leave is limited and the pay is often lower than an employee’s regular salary. MNCs can offer a salary top-up during parental leave to help workers maintain their standard of living.
Additional family leave: Besides parental leave, MNCs can offer additional family leave to support team members caring for elderly parents, sick spouses or other dependents. Such leave can help team members balance work and caregiving responsibilities and make it easier for them to stay productive.
Return-to-work flexibility: After parental leave, employees often struggle to readjust to the demands of the workplace. MNCs can offer return-to-work programs that ease the transition, such as phased returns, flexible schedules and part-time work options. These programs help team members balance work and family responsibilities, making it easier for them to stay productive.
Childcare assistance: Many parents face the challenge of finding affordable and quality childcare, which can be a major source of stress. Companies can explore offering childcare assistance by providing subsidies for daycare or offering referral services to trusted providers.
Employee assistance programs (EAPs): EAPs can provide a range of services targeted to parents, such as counseling, legal advice, financial planning and wellness programs. These services can help parents manage stress, improve their mental health and cope with various personal and professional challenges.
Maternity and paternity concierge services: These services provide parents with personalized support and assistance during and after pregnancy. They can help parents navigate medical appointments, insurance and childcare options, as well as provide advice on baby gear and other baby-related products.
Unlocking supplemental benefits through Employer of Record (EOR) hiring
An Employer of Record (EOR) can play a crucial role in helping you build effective supplemental benefits packages that resonate with your team members – no matter where they are in the world.
Trusted EORs, like GoGlobal, have deep expertise in local laws, customs and cultural norms. This allows them to provide you with customized support and compliant supplemental benefits.
With an EOR, multinational companies can develop benefits packages that meet the specific needs and preferences of your team members in different countries. For workers that are parents, this may include some of the family-friendly benefits outlined above and more.
By leveraging the expertise of an EOR, you can create a more family-friendly workplace culture that unifies your cross-border team, supports parents and helps drive international business success.