120 likes | 312 Views
NYSE Euronext Global Mobility Program. Low Cost and Alternate Programs. NYSE Euronext-Who we are. The New York Stock Exchange was created in 1792 Became publicly traded company in 2006 Merged with Euronext in 2007 to create the world's leading and most liquid equities exchange group.
E N D
NYSE Euronext Global Mobility Program Low Cost and Alternate Programs © NYSE Euronext. All Rights Reserved.
NYSE Euronext-Who we are • The New York Stock Exchange was created in 1792 • Became publicly traded company in 2006 • Merged with Euronext in 2007 to create the world's leading and most liquid equities exchange group. • 2010 Net Revenue $2,511B • NYSE Euronext is the only Exchange group represented in the Fortune 500 • Corporate Headquarters – New York, NY • Other locations include Paris, London, Amsterdam, Lisbon & Brussels • Headcount: US - 1,723; Non-US -1,284; Total 3,007
NYSE Euronext-Global Mobility History • Prior to 2007, NYSE Group Inc. did not have global mobility policy • Following the Euronext merger, the company adopted the LIFFE mobility policy • The current policy did not reflect a global philosophy • Lacked policy and process consistency to support mobility growth • Lacked clear distinction with regard to the provisions that are provided for each assignment type • In 2009, the Global Mobility role moved to the US from France • For future assignments, we reduced the level from High to Moderate Living Standards • Benchmarked our current policy
NYSE Euronext Policy Redesign Objectives The new policy suite expanded our current policy option with a focus on establishing a consistent set of international assignment policies to achieve consistency in the treatment of assignees and providing a greater degree of flexibility to meet the changing demands of the business.
NYSE Euronext Policy Redesign Objectives (continued) • New Global Mobility framework and policy enabled us to: • Use global mobility proactively and design programs to develop high-potential and highly skilled talent • Enhance mobility options, to align with business realities, that can flex with the business unit needs • Provide flexibility, balance ease of mobility with assignment cost and assignee satisfaction • Provide fair and equitable treatment to the entire assignee population • Manage and deliver cost savings through standardization and rationalization to market benchmarks • Effectively contain and manage compliance risks Approval Process (“Gatekeeper”) • Require management committee approval for each assignment • HR to administer policy adherence with limited exceptions 5
Executive Permanent Transfer Objective Key Strategic or business critical transfer with no immediate plan to repatriate Reserved only for senior level executives (ie. Management Committee) Paid in the local country and receive local benefits Support Package Immigration Destination/Relocation Services Tax Assistance Miscellaneous Relocation $10,000 USD or local equivalent Permanent Transfer Transition Payment Home Leave up to 3 visits in 2 years Additional optional support provided with BU approval Standard Permanent Transfer Objective Volunteer and business driven transfers with no immediate plan to repatriate Mid level employees and technical resources Paid in the local country and receive local benefits Support Package Immigration Destination/Relocation Services Tax Assistance Miscellaneous Relocation $7,500 USD or local equivalent Home Leave up to 3 visits in 2 years Additional optional support provided with BU approval Permanent Transfers are less expensive than defined period assignments NYSE Euronext Permanent Transfers
Standard Long Term Assignment Objective Assignment has moderate mission-critical focus Provide global work experience to enhance their value of the organization Reserved for strong performers with high potential-mid to senior level employees Duration 1 to 2 years with an option to extend to 3 years Paid in the home country and receive assignment benefits Support Package Immigration Destination/Relocation Services Tax Assistance Miscellaneous Relocation $7,500 USD or local equivalent Goods & Service Differential if applicable capped at $200,000-based on CLP Housing Home Leave – one per year Healthcare coverage Additional optional support provided with BU approval Short Term/Development Assignment Objective Skill-based assignment for professional or technical employees to fill a specific business objective and/or capability building and obtaining a diverse experience Consistent high performer with specialized skill set, mid level employees Duration 3 to 12 months Paid in the home country and receive assignment benefits Support Package Immigration Tax Assistance Miscellaneous Relocation $5,000 USD or local equivalent over 6 months only Per Diem 6 months or less/G&S Differential over 6 months capped at $200,000-based on CLP Housing Home Leave – 6 months or greater – one for every 3 months Healthcare coverage Additional optional support provided with BU approval NYSE Euronext Long and Short Term/Development Assignments
NYSE Euronext Commuter Assignment • Commuter Assignment • Objective • Frequent business traveler outside of home country • Employees with business responsibilities in multiple locations • Reserved for mid level employees and technical resources • Duration - up to 2 years • Paid in the home country and receive limited assignment benefits • Support Package • Immigration • Tax Assistance • Per Diem • Housing • Additional optional support provided with BU approval
NYSE Euronext Permanent Transfers • In 2010, we completed 14 permanent transfers and of those 11 utilized the new permanent transfer policy while the other 3 localized from previous assignments without any reduction schedule • In 2011, we have completed 8 permanent transfers to date and working on an additional 5 • Recent Cost Comparison • 3 Year assignment from London, UK to Hong Kong for an employee making $145,000 • Standard Permanent Transfer was about $160,000 • Standard Long Term Assignment for 3 years was over $550,000
ASSIGNMENT STATUS (as of 1 June 2011)
NYSE Euronext Global Mobility Challenges • Exceptions, Exceptions, Exceptions • Budget Constraints • Business Needs vs. Assignee Needs • Payroll Support