Global Employee Benefits. Cliff Caldwell, GPHR Managing Director
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1 Global Employee Benefits Cliff Caldwell, GPHR Managing Director
2 Ascende and Energy Acumen Benefit Plan Surveys Ascende is a human capital consulting firm based in Houston, TX. Over our nearly 20 year existence we have grown and evolved with the clients and markets that we serve. Today, we are a firm with key insights into employee benefit trends, particularly related to the energy industry. This knowledge and understanding of the trends that impact an industry where attracting, developing and retaining top talent is critical, has been developed through our day-to-day client engagements and our continued investment and support of employee benefit plan surveys. The Energy Acumen surveys are unique in the industry and provide critical insights through sector and client specific benchmarking data and analytics. This document is a summary of the information presented to Global Employee Benefit survey participants at our recent Energy Forum. 2
3 Global Benefits: Survey Composition Benefit benchmarking data and trend analysis based upon: 27 participating companies Over 140,000 domestic employees Over 23,000 international assignees (U.S. expatriates and Third Country Nationals) Our largest global benefit survey to date. Note: For purposes of this survey, Ascende utilizes the term expatriate to refer to U.S. expatriate employees. We use this approach in recognition of the participation (in many cases) of U.S. expatriate employees in 401(k) and Section 125 benefit programs. For this reason we use the term third country national to refer to all non-u.s. expatriate employees. Information is broken out separately for these two groups of employees where appropriate. 3
4 Global Benefits: International Trends The international health care trend has been in the low double digits for the last several years and is likely to remain elevated in the coming years. This stands in contrast to the underlying trend line in the U.S. which has been in the mid to low single digits for the last several years. Key drivers of the international trend: Increased investment in health care infrastructure and technologies globally Increased demand for health care services within the local markets Aging global population increased utilization Constrained social systems (cost or service shifting to private plans) Impact: Expatriate health plans have typically enjoyed a cost advantage over domestic (U.S.) health plans in the past. This advantage has eroded resulting in some plan sponsors questioning the value of these plans. 4
5 Global Benefits: International Trends Changes in the marketplace new players enter Over this last several years, new players (insurers and service providers) have entered the U.S. market or substantially enhanced their international health plan capabilities. This is a positive trend from the past when the market was dominated by a few key players. The absence of effective competition has resulted in a marketplace that has lacked pricing transparency, particularly for the smaller insured expatriate health plans. Plan sponsors should expect to see enhanced service capabilities and potentially more competitive pricing in the future. 5
6 Global Benefits: International Trends Impact of Affordable Care Act (ACA) on international health plans The transitional relief granted by the Department of Labor and Health and Human Services in March of this year provided some direction for plan sponsors of expatriate health plans. However, it failed to permanently resolve the fundamental question of whether expatriate health plans should be subject to the ACA in the future or not. Plan sponsors are left with the mixed bag of implementing some aspects of the ACA while not being required to implement others. This also leaves open the question of the long-term viability of including U.S. citizens on a non-u.s. based health plan which typically lack ACA compliant provisions. 6
7 Global Benefits: Employer Opinions About Benefits 3.8% 3.8% A majority of the survey participants felt that their global employee benefits program satisfied their need to attract and retain talent. Further, the participants indicated that the benefits allowed the organization to effectively compete within the industry. Provides a strong incentive to attract new talent Provides a strong incentive to retain existing talent Permits us to compete effectively in our industry 34.6% 38.5% 34.6% 3.8% 42.3% 38.5% 53.8% 15.4% 3.8% 3.8% 15.4% 3.8% 7.7% 3.8% Plays no role in our attraction and retention strategy 7.7% 15.4% 15.4% 53.8% 0% 20% 40% 60% 80% 100% Agree Neutral Disagree Somewhat Agree Somewhat Disagree Not Applicable 7
8 Global Benefits: 2013 Health Changes Medical deductible There were limited changes in the structure of expatriate health plans over the last year. Some of this may be attributable to the desire of maintaining a competitive benefit plan in a tight labor market. Medical coinsurance amounts Pharmacy Coinsurance Amounts 8.7% 8.7% 8.7% 13.0% 82.6% 91.3% 87.0% Interestingly, more companies increased the company subsidy amount for health coverage compared to those that decreased the subsidy. Out-of-pocket maximums Company subsidy amount 4.3% 8.7% 31.8% 18.2% 87.0% 50.0% 0% 20% 40% 60% 80% 100% Increase Decrease No Change 8
9 Global Benefits: Benefit Changes Added new benefit programs While none of the participants eliminated an existing benefit program, there was limited evidence of an underlying effort to either add new benefits or enhance existing programs. Eliminated existing benefit programs 19.0% 81.0% 100.0% We did see some movement where organizations were seeking to enhance their overall communications efforts for international assignees. Enhanced existing benefit programs 28.6% 71.4% Enhanced communication efforts 25.0% 75.0% 0% 20% 40% 60% 80% 100% Yes No 9
10 Global Benefits: Local Nationals Corporate Oversight of Local National Plans An area where we did see a change from prior surveys was in the role that the corporate location plays with respect to oversight and direction of local national programs. The next series of slides suggest an increasing corporate role in key aspects of local national programs. Vendor selection Funding/ budgeting 66.7% 62.5% 33.3% 37.5% Line of sight from a risk management perspective, driven by concerns over local compliance, as well as the desire to develop a broader benefits strategy in the face of rising local national costs are leading factors in the increasing role being played by the HQ location. Plan design 70.8% 29.2% 0% 20% 40% 60% 80% 100% Yes No 10
11 Global Benefits: Local Nationals Corporate Oversight of Local National Plans Compliance was the leading factor behind the increased role of corporate involvement in the local national programs. This was followed by competitiveness and cost of the local programs. These factors reinforce the need for the development of a global benefits strategy that can be effectively implemented at a local level. Cost escalation in local national programs is a concern Competitiveness of local programs is a concern Compliance with local laws and regulations is a concern Corporate oversight of local programs is a priority Organization has a clearly defined global benefits strategy 20% 25% 35% 65% 50% 15% 30% 15% 35% 30% 15% 15% 15% 20% 10% 10% 10% 5% 5% 5% 5% 15% 10% 10% 10% 10% 10% 0% 20% 40% 60% 80% 100% Agree Neutral Disagree Somewhat agree Somewhat disagree Not Applicable 11
12 Global Benefits: Local Nationals Corporate Oversight of International Operations Half of the survey participants were either actively managing or in the process of implementing oversight measures of local national programs. Another thirty-five percent were planning to analyze their local programs within the next two years. 35% 5% 10% 30% 20% Actively managing local plans at this time Implementing oversight measures at this time Planning to analyze local programs within the next two years No plans to analyze local programs Not applicable 12
13 Ascende Energy Acumen Surveys Energy Services Benefit Plan Survey Drilling Industry Benefit Plan Survey Midstream Industry Benefit Plan Survey Exploration and Production Benefit Plan Survey Engineering and Construction Benefit Plan Survey Global Employee Benefit Plan Survey 13
14 Conclusion This document is a summary of the materials presented at the 2013 Energy Forum in Houston, TX. Full survey results are available to survey participants only. Detailed benchmarking around health, ancillary, retirement, time-off and other benefits are included in the survey document. For more information about the 2014 Global Employee Benefits survey or an energy sector survey and how they can benefit your company, please contact us. Survey enrollment will commence in November with the online survey opening in January, Ascende, Inc marketing@ascende.com 14
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