services or access to timely GP appointments) rather than a traditional comprehensive health insurance plan. “We have developed a package of healthcare benefits
that specifically focuses on the areas where employees want help,” she said. “That is unique to us and it wouldn’t have happened without active listening. It helps our employees because it allows them to get treatment quickly and not be absent from work that could result in statutory sick pay, for example.”
HOW TO CREATE A FINANCIAL WELLBEING KIT AT WORK Owain Service and Emily Trant say that it is important to ensure that any financial wellbeing package you introduce is tailored to the needs of your workforce and considers their circumstances, including volatility of earnings. “Financial education can be helpful, but unless it’s
to save consistently. As Owain pointed out, when you make the desired action easy, people are far more likely to follow through. Rebecca Pearson, general manager, care services, Bupa
Global, India & UK, was instrumental in introducing a savings scheme for new employees, but said that initially she had been concerned that the policy might seem “paternalistic”. In fact, by listening carefully to employees, Bupa enabled employees to build up a savings pot and over time to increase their financial resilience. This meant that employees could achieve ambitions like buying and running a car for the first time or having an emergency financial fund for unexpected expenses. “We listened to feedback from our employees and
came up with this concept to help them,” she told the CIPD panel. “When new employees joined the organisation, they could enrol with Wagestream, which is one of Bupa’s most popular employee support benefits. We would automatically enrol them into the savings products and they had to physically opt out of that. “When we were taking that step, we wondered if that
felt a little bit bold because people hadn’t asked for that, but we felt confident about the feedback we had received. We speculated that a good number of people would choose to opt out, but actually, that’s not what happened. We have seen more than 70% of the employees keep the savings plan and they make regular savings. There are some lovely stories about things our employees have achieved that wouldn’t have been possible without that change in behaviour.” In other words, financial wellbeing is no longer just
about offering a workplace pension scheme, although that is an important aspect of employee benefits. It is also about using behaviour science strategies to help people make meaningful and sustainable changes. “We were making a call on where people’s cash went,”
Rebecca explained. “We had very strong feedback that people wanted help to build resilience and to feel the psychological benefits of having resilience. In the end, the worries that we had didn’t materialise.” Bupa also discovered that employees wanted health benefits that addressed specific needs (such as mental health
paired with actionable and accessible financial security tools it’s likely it will fall short of the mark,” they say in the report. When considering a financial wellbeing offering, ask the following questions:
• How does this create financial inclusion for women and individuals from ethnic minority backgrounds?
• How does this work for individuals on variable pay? • What access to financial products do individuals need to successfully use this?
• What proportion of the workforce will be able to use this?
• Are there any particular groups who are more or less likely to benefit from this?
Employers can put together a benefits package that
has real meaning for their workforce, including zero- interest payroll deducted loans of up to £10,000 with no tax implications, group insurance benefits that eliminate underwriting biases faced by lower-income workers and particularly individuals from minority ethnic backgrounds and policies that drive greater financial inclusion and financial wellbeing. “Our people are our biggest asset, so just keep
listening, really active direct listening because the answers are there and you will really get something that works for your employees,” Rebecca said. Owain added: “Once you’ve done the listening, don’t
assume that you can change the way that your employees think about a situation, but do provide them with the tools that enable them to take action.”
GLOBAL MOBILITY MINI FACTSHEET: WORK-LIFE BALANCE
GLOBAL LEADERSHIP MINI FACTSHEET: STRESS & STRESS MANAGEMENT
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Work-life balance
Maintaining a good balance between work and family life is important for health and wellbeing. International assignees often find themselves having a poorer work- life balance than before accepting their posting. Interventions are needed to mitigate this problem.
POOR CULTURAL ADJUSTMENT International assignees’ work-life balance can be affected by the inability to adjust and adapt to the new culture. If they find themselves unable to cope culturally, they may be unable to trust their subordinates and delegate work to them. This can lead to taking on far more duties themselves, leading to long hours of work and greater pressure. This
Stress & stress management
can lead to stress because assignees are trying to reach targets in an environment they are finding difficult to operate in. In time, this can lead to burnout.
LIMITED LEISURE TIME Conference calls that take place outside normal working hours due to time zone differences, scheduled for the convenience of operations in other parts of the world, can lengthen the assignees’ working day. Assignees often find themselves unable
to take their full leave allowances. This is usually because they are undertaking a more demanding job but the problem is exacerbated if they have not been able to forge good working relationships with subordinates due to cultural differences.
LOSS OF SOCIAL CONTACTS International
assignees typically
The effect of stress on employees’ physical and mental ill-health is major cause of workplace absence and loss of productivity. It also has serious consequences for individuals’ personal lives and wellbeing.
carried back to the family and what happens in family life is transferred across into the assignees’ work life. This spill-over blurs the boundary between home and work life, creating poor work-life balance.
Understanding stress and taking action to reduce it is a key leadership responsibility.
experience a loss of social contacts. They leave extended family and friends behind. Those undertaking single status assignments, in particular, can suffer from loneliness. Solos who have not have not made new friends can find themselves with little else to do but work, creating poor work-life balance.
WORK & FAMILY LIFE
DEFINING STRESS Stress results from a person’s response to a disturbance producing strain within the individual. People experience stress when their attempt to manage problems, taxes or exceeds their coping mechanisms. This eventually damages their physical and emotional stability creating ill-health. Stress is experienced individually; what is stressful to one person might simply just be a challenge to another. When an individual experiences a threat, the body’s defence mechanisms become active. This is triggered by the sympathetic nervous system. The body releases hormones that prepare for the “fight or flight” reaction. Once the threat has been countered, the parasympathetic
SPILL-OVER nervous system engages to return the Assignees
typically experience gr ater
spill-over between work and family life and vice versa than employees working in a domestic context. This is because the assignee and family often live close to the work site and have a local social life that revolves around work contacts. Spouses/partners who are unable work and children who are trying to adapt to new schools can put pressure on assignees and affect their ability to focus well in the workplace.
to What goes on in the workplace gets
individual to the equilibrium/steady state. If the individual is unable to cope
with the threat, they will remain in a heightened state
of anxiety with the
hormones that trigger the fight/flight reaction remaining highly active. If the stress continues long-term beyond the individual’s ability to cope, their defence mechanisms cannot work effectively. It is this heightened state for long periods that can be damaging to health.
ORGANISATIONAL SUPPORT Cross-cultural and language training are critical to help assignees manage local staff more effectively. Assignees must be encouraged to take up training offered although, ideally, it should be mandatory. By delegating where possible, assignees’ working time can be reduced, facilitating take-up of necessary leisure time. Mentoring can assist assignees to operate more effectively. Organisations should ensure that
conference calls/meetings are scheduled such that assignees are not expected to work outside of normal local working hours due to time zone differences between meeting participants. Local rest days and public holidays should be respected. Assignees should be encouraged to
take their full leave allowances and any rest and relaxation leave offered in policy. Networking and buddy systems
COPING STRATEGIES The most effective coping strategies are built upon the fight/flight reaction. This reaction is inherent to protect us from danger. For example, our ancestors facing a dangerous wild animal would fight or flee. Today, physical exercise can act naturally as an adjuster/coping mechanism to return to a steady state. Relaxation such as escape to a calm environment can also act as a helpful coping mechanism.
STRESS SYMPTOMS Behavioural symptoms include irritability, difficulty in making decisions, suppressed anger, concentration difficulties, and the inability to finish one task before rushing to another. People can feel targeted, threatened, tearful and/or constantly tired. If action is not
taken through
engaging appropriate coping mechanisms, symptoms such as indigestion, insomnia, headaches, nausea, and skin conditions can result. These can lead to serious physical and mental ill-health. Conditions include high blood pressure, heart digestive disorders, and depression.
problems,
can help build social relationships for assignees, spouses/partners and children.
INTRINSIC WORK STRESSORS Intrinsic factors in the workplace that cause stress include: poor communication, long hours, long commutes, inefficient technology, work overload and poor work-life balance. Role ambiguity/conflict, poor work
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relationships and having responsibility without authority are further stressors. Job insecurity, a lack of career development, and poor performance appraisal are additional factors. Participation, decision-making and a
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sense of control all play a part in stress at work. There is higher stress-related ill-health absence amongst factory floor and production line workers than among
senior management, primarily because lower-graded workers have no, or very little, sense of control.
WORKPLACE STRESS MANAGEMENT INTERVENTIONS Leaders must take action to reduce workplace stressors. Flexible working can help people balance their work and family life. Access to flexible benefits, including sponsored gym membership and the ability to trade pay for additional holiday, is helpful. Good communication, performance
and career management systems, and participation and engagement initiatives must be instituted.
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23
GLOBAL LEADERSHIP SUPPLEMENT
FINANCIAL WELLBEING
© 2024: Relocate Global & Think Global People
GLOBAL MOBILITY MINI FACTSHEET: WELLBEING SUPPORT
Wellbeing support
Global mobility can be stressful and this can lead to poor health and wellbeing for employees and families on the move. Supporting wellbeing requires an holistic, human-centred approach to ensure successful global mobility.
WHY WELLBEING SUPPORT IS IMPORTANT Research has indicated that international assignees are frequently dissatisfied with the wellbeing support offered when they are relocated internationally. Such dissatisfaction can affect assignment outcomes negatively. Managers play a key role in ensuring
that assignees and their families are supported emotionally as well as via financial and practical support. Regular communication is crucial to identify potential problems and manage these before they become a concern. Successful approaches to managing
wellbeing in the workplace require a comprehensive policy approach that responds to both physical and emotional demands on individuals being relocated as well as their family members.
WELLBEING OF MINORITY GROUPS Minorities are less likely to have their wellbeing issues identified and addressed. Flexibility in policy is needed to ensure that ethnic minorities, the disabled, and the LGBTQ+ community are supported effectively. Women are still in the minority as international assignees
and their wellbeing issues also should be addressed specifically. Tailored support is important as every
individual’s needs are likely to be different. This need not become a major burden for managers provided that the assignment policy in place is both appropriate and flexible. Supportive management is important to ensure both business needs are met but also that individuals can work in a way that enhances their wellbeing.
CAREER SUPPORT INTERVENTIONS Career progression is one of the leading drivers for accepting an international assignment and support to ensure that this takes place is crucial to wellbeing. Mentoring, coaching, networking, and career counselling are all helpful interventions providing support for relocated employees particularly when working in unfamiliar cultures. Financial support packages for
international assignees are typically comprehensive. However, in today’s cost- cutting environment, cutbacks in financial support may damage wellbeing by causing stress to assignees and their families. Support with career management for accompanying partners (and working age children as appropriate) can provide an important intervention to assist in promoting family wellbeing.
ASSIGNMENT TRAVEL International assignments can take various forms including frequent mobility through short-term, commuter and rotational assignments. In addition, business travel that takes place while on assignment adds to the stress involved in the posting through frequent flying. Excessive travel is tiring and can cause
physical health problems particularly through crossing several time zones and
when flying long-haul. Where possible, the requirement to travel frequently and irregularly should be minimised in order to reduce the likelihood of burnout and improve the health and welfare of assignees. Wellbeing is also promoted through the reduction of periods of family separation.
ACCESS TO WELLBEING INTERVENTIONS Access to wellbeing interventions for employees and families is crucial for positive mental and physical health. For example, employee assistance programmes provide the opportunity for employees and family members to discuss their personal issues in a confidential and supportive environment. Access to courses, such as on mindfulness, can prove to be very beneficial to improving mental health.
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© 2024: Relocate Global & Think Global People
© 2024: Relocate Global & Think Global People
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