Multinational companies rarely have the ability to develop innovative, cost saving, strategies for their existing Employee Benefit- / Compensation- / Pension-Plans globally.
Programs are difficult to manage
Financials are reported in a fragmented way
- Global HQ typically does not have exposure to detailled reporting
EB compliance must adhere to local and national laws
- Insurance Laws, Bribery, Rebating, HIPAA, ACA, etc.
Contracts are decentralized
Brokers and vendors operate outside of a connected network
Economies of scale are not leveraged
Client Reaction to Challenges
Clients will typically transfer Responsibility & Controls
In-house Brokers and / or HR Structures
EB-Networks for Pooling
….and this is the reason Global HQ loses control and oversight of the program