Your SlideShare is downloading. ×
Global compensation balancing between workforce and organizational requirements
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Global compensation balancing between workforce and organizational requirements

285

Published on

In this era of globalization, when companies have a multicultural and multilingual working environment, and a large mobile workforce, an organization’s performance is dependent largely on the …

In this era of globalization, when companies have a multicultural and multilingual working environment, and a large mobile workforce, an organization’s performance is dependent largely on the compensation factor to its employees.

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
285
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Global Compensation: Balancing Between Workforce and Organizational RequirementsIn this era of globalization, when companies have a multicultural and multilingual working environment,and a large mobile workforce, an organization’s performance is dependent largely on the compensationfactor to its employees. Compensation relates to a meeting point of the employees priorities andorganizational goals and plays a major role in acquiring and retaining the human resource.The human resource professionals of the multinational organizations need to develop globalcompensation policies, which would meet organizational strategies as well as accommodate theinterests of the employees worldwide. A number of factors need to be considered while designing globalcompensation benefits. While dealing with diverse cultures, the HR personnel are dealing with diversecost of living standards, currencies, inflation, and tax systems. An attempt to provide the best to theemployees need a proper understanding of the local compensation practices, compliances prevalent in aregion, employee values and expectations based on cultural diversities as well as organizational businessrequirements based on mergers, acquisitions or joint ventures.Compensation includes formal and informal system of rewards that acts as the driving force for effectivemotivation and management of human talent. The global compensation benefit program is not a ‘onesize fits all’ because of the cultural, legal and social differences. To provide organizations with effectivehuman resource solution requires industry experience and an ability to strike a balance between acentralized and decentralized compensation. Besides organizations, also need to consider adherence toHIPPA security compliance and ERISA compliance as a part of employee benefit services.Industry leaders with expertise in delivering global human resource solutions can seamlessly integrateemployee compensation programs, compliances, payroll and retirement plans. Globalization andcustomer demands call for business penetration to new markets. Under such circumstances, enterpriseswith expertise in global compensation can help in handling of human resource through effectivestrategy and planning. Through a structured approach these leaders gains a comprehensive study of aclients business, analysis, identifies challenging issues, and develops a lasting solution customized forthe organization.Know more on: Global human resource management

×