PayScope: Navigating global salaries and benefits

About the Speakers:

Host: Demetra Tofarides - Marketing and Events Specialist
Originally from Paphos, Cyprus, Demetra’s studies brought her to the UK where she achieved a Masters in Events Management. Demetra worked as a production assistant following graduation, creating largescale events for clients such as EasyJet and Toyota. Now based in Mauve’s Dubai office, Demetra brings her events expertise to the marketing department. 

Expert Speaker 1: Tam Ellerington – Global Business Development Manager
Tamalyn joined Mauve in 2016 as a Channel Partner Executive and is now our Global Business Development Manager. With a background in education and business support, Tamalyn, who is based in York, UK, brings a wide range of skills to this dynamic role to drive our company's growth initiatives. 

Expert Speaker 2: Karolina Zachara – Global Benefits Manager
Karolina, our seasoned Global Benefits Manager, brings over a decade of industry expertise to our company since joining in 2023. With a rich background in the field, she infuses our team with invaluable insights while also offering a fresh perspective. Karo is dedicated to optimising our global benefits strategy, ensuring our employees receive comprehensive and competitive packages tailored to their needs.


Overview:
In this podcast, our experts unravel the intricacies of global expansion, focusing on the challenges surrounding global salaries and benefits. Delving into the complexities of managing talent on a global scale, they address pressing questions and offer insightful solutions to navigate the ever-evolving landscape of international workforce management. Emphasising the importance of remaining compliant, they stress the necessity of engaging a salary benchmarking service to ensure alignment with industry standards and regulations.


Key Takeaways:
1. Experts experts like Mauve Group for their salary benchmarking service to ensure compliance, staff retention, and competitiveness in the market.

2. Regularly reassess global salaries and benefits, ideally annually or bi-annually, to adapt to market changes, evolving employee needs and ever-changing rules and regulations.

3. Distinguish between mandatory benefits and standard industry practices; while employers are obligated to provide mandatory benefits, adhering to industry standards can enhance attractiveness and competitiveness as an employer.

4. Salaries and benefits exhibit variability across countries, and even within regions, necessitating tailored approaches to compensation strategies.

5. Align benefits for employees in foreign locations with their local requirements rather than those of the parent company's country.

6. Health insurance stands out as the most sought-after benefit among candidates and employees globally.

7. Discrepancies between desired employee benefits and employer offerings persist, although recent trends indicate a narrowing gap between the two.