Developing a core-flex program can be challenging, especially for organizations that are inexperienced with corporate mobility.
Determining Precisely What Benefits to Offer
The choice of benefits should be competitive – but it should also be financially viable. The included services must be representative of the company culture and the level of employer support employees can expect, while at the same time fitting within the constraints of the available budget.
Balancing Core and Flexible Benefits
Again, this needs to be competitive and realistic. Adding more services to the core component might bring in more talent, but it could also result in a larger financial investment than necessary or even possible.
Establishing Reporting and Metrics Procedures
Organizations need robust reporting and metrics procedures to keep track of the costs and success of the program. Most corporate mobility companies provide client dashboards where this data is collected and analyzed for review. Employers that wish to manage this aspect in-house will need to integrate relocation reporting and metrics into their existing HR management systems.
Ensuring Consistency of Policy Application
It's critical to be consistent in applying the core-flex policy to ensure compliance and employee satisfaction. Establishing clear rules regarding qualifying factors is a requirement to make sure all decisions to provide specific services to employees are based on data, not personal preference or guesswork.
Developing New Processes
Companies should develop new processes to assess employees' eligibility, assign the appropriate services and accurately document each case. Clear and efficient processes reduce the chances of errors and complications. HR should collaborate with the mobility manager and any other stakeholders to establish streamlined processes that facilitate the implementation and periodic reassessment of the core-flex policy.
Creating a core-flex program is a complex endeavor, and one that requires a certain amount of expertise. Yet it’s also one that can yield considerable returns in terms of employee productivity and engagement, as well as improve employer brand reputation. For many companies, it is the optimal policy to blend the employer's strategic goals with employees' unique needs, providing service benefits while containing costs.
It can be helpful to work with a corporate global mobility company that can assist in developing a comprehensive program that contains mobility expenses, while simultaneously offering a competitive set of core and flexible services.