The Case for Comp:
Why Your RMC is The Best Partner For many mobility and HR professionals managing the global compensation activities of their employee population is cumbersome, overwhelming and fraught with trepidation. With so much riding on getting it right, most companies look to the expertise of a Big 4 tax firm as their provider of choice; however, working with your own relocation management company (RMC) may be a less costly and even better alternative. Here’s why:
Seamless Strategy and Process Just like with any other aspect of business, keeping knowledge and data centralized with one provider can provide a better overall experience. With Altair Global, clients take confidence in the knowledge that our Global Compensation Management Program is led by mobility financial services veterans with years of experience in delivering global compensation, tax data reporting and payroll administration. Because this team is integrated into and aligned with every aspect of your overall global mobility program, there is less chance of a break in process or misaligned objectives. Using your RMC for global compensation can streamline your company’s process to ensure comprehensive compensation accumulation from home/host locations and regulate your global payroll experience for international employees on assignment. Who better to know how benefits are delivered based on local nuances? This local understanding equates to a clear path for total compensation accumulation and ultimately, tighter compliance.
Reduced Costs with Better Insights Working with an RMC versus a Big 4 tax firm often comes with a significantly smaller price tag; however, we also believe it comes with better insight into your overall program. Instead of paying exorbitant hourly rates, working with an RMC means more access to support teams with less hassle and expense. No nickel and dime fees for inquiries or special reporting since RMCs just work differently. Altair Global works to become an extension of our clients’ internal teams and that means a more collaborative, strategic partnership with no out of scope fees. Further, through centralization of total cost aggregation and comprehensive compensation accumulation via your RMC, clients have full visibility of program costs, can project future spend and support key finance requirements through a single source. By effectively delivering accurate and updated assignment data, our clients are better prepared to make informed decisions on compensation management.
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