Explain the Benefits of Gaining International Business Experience and Working as an Expat - Essay Example

Assignment Benefits of Working as an Expatriate Chapter Number: 10th September Explain the Benefits of Gaining International Business Experience and Working as an Expat.Benefits of Gaining International Business ExperienceThere are numerous benefits which can be availed from working in a country other than the native country of a professional. In every country, the way of doing businesses differ, therefore gaining international experience can be helpful in understanding the way in which the business is conducted in foreign world.

In this way, the person gets familiarized with the different working environment in the field of business. Some of the most prominent benefits of international experience include the following. It can help in building relationships with foreign clients, business partners and suppliers. Relationships can be developed with local clients in order to reach the different demographic communities. One can represent their home country or company and in this way can contribute to international experience, language and skills which will support the global competitive position of the company.

One can develop their own personality and skills by working in a country other than their native country. It will help in understanding cross cultural situations and will eventually contribute to the native country’s cultural competence by making it more competitive and booming in the global marketplace.Having experience of working in international business environment helps in knowing the, products, service and needs of the ethno-specific markets. Benefits of Working as an Expatriate Benefits are offered to a worker depending upon the region in which a person is operating.

A person working in some parts of Europe might not get the same benefits which would be offered in Middle East. Some of the most common benefits which are offered in most of the countries include the following.Paid VacationMany employers offer their employees a 30 day paid vacation. Individuals working at some senior status positions often get 40 days paid vacation. The benefits of vacation vary depending upon the size and status of family i.e., married, single or family. Medical Allowance Most positions provide medical benefits with no co-payments or deductibles of any type.

Most clients take in prescriptions along with the basic medical care. Guaranteed Yearly BonusMost positions outside the native country offer a “Yearly Contract Completion Bonus”. Employers held this type of bonus in escrow and paid to their employee when they re-patriate to their home country. Transportation AllowanceMost of the positions offer transportation allowance to facilitate their employees. Others also furnish the automobiles. Generally, furnishing a car is primarily for those employees who are at sales positions or senior level.

Other Benefits While working as an expatriate, some companies offer other benefits which include incentive bonuses, child education, perks, performance increases etc. All benefits are explicated by the recruiting staff of the relevant company. Works CitedCentennial College, . "Benefits of International Experience ." 2007. Web. 10th September 2012. Richard Fearon. "Financial director." Why getting international experience matters . 28th November 2010. Web. 10th September 2012. The Leslie Corporation, .

"The major benefits of an overseas job ." The Leslie Corporation. n.d., Web. 10th September 2012. http://www.lesliecorp.com/benefits.html