Client Challenge #7:
A technology client was researching solutions to provide an equitable wellbeing benefit to employees across the globe. They intended to reimburse up to USD 2,000 per year for costs like gym memberships, exercise equipment, or continuing education; however, they needed a way to modify the benefit amount by the cost of living in each country. For example, the company offered USD 2,000 to employees in the U.S.A. but they thought they may need to offer more to employees in Switzerland and less to employees in India. The client needed a simple report that provided this cost of living conversion data for all of their operating countries.
Solution:
AIRINC's Global Reward Index Calculator compares average cost of living data across countries. Our tool allowed the client to defensibly vary the benefit amount by country, thereby creating a better-aligned program. They determined that employees needed the following allowances to maintain the same purchasing power as their peers who received USD 2,000 in the U.S.A.:
- Employees in Switzerland needed USD 2,828
- Employees in India needed USD 1,280
This client used the tool for calculations related to wellness: the Global Reward Index Calculator can also help you establish globally equitable allowances for remote work, fitness, small performance rewards and cash. Calculations are quick, easy, and transparent.
