The document discusses international compensation strategies. It outlines that international compensation includes base salary, benefits, perks, and short and long-term incentives based on employee contributions. The objectives are to attract competent expatriates, facilitate movement between locations, provide reasonable pay levels across locations, be cost-effective, and align with business strategy. A compensation philosophy outlines goals, performance linkage, market targeting, and the role of appraisals. Compensation considers business factors, employee preferences, market practices, and is administered through salary bands, job pay rates, performance linkage, starting salaries, and reviews.
Staffing recruitment and selection of INTERNATIONAL HUMAN RESOURCES MANAGEMENTAparrajithaAriyadasa
In staffing in international business, HR managers must determine when or where to expatriation. Expatriate workers are frequently assigned to key positions in overseas operations. Human resource managers must also decide on the issue of compensation. The compensation of expatriate workers must be examined along with compensation of local workers and the compensation of workers in the home country. Differences in compensation packages have significant implications on staffing success, expatriate performance and business performance. HR managers must also address the issue of repatriation. Repatriation happens when the worker needs to come back to the home country, usually to continue working for the company. Repatriation also happens when the expatriate worker retires. These issues have significant effects on the perspectives and performance of expatriate workers and local workers, and the effectiveness of IHRM in staffing.
Staffing recruitment and selection of INTERNATIONAL HUMAN RESOURCES MANAGEMENTAparrajithaAriyadasa
In staffing in international business, HR managers must determine when or where to expatriation. Expatriate workers are frequently assigned to key positions in overseas operations. Human resource managers must also decide on the issue of compensation. The compensation of expatriate workers must be examined along with compensation of local workers and the compensation of workers in the home country. Differences in compensation packages have significant implications on staffing success, expatriate performance and business performance. HR managers must also address the issue of repatriation. Repatriation happens when the worker needs to come back to the home country, usually to continue working for the company. Repatriation also happens when the expatriate worker retires. These issues have significant effects on the perspectives and performance of expatriate workers and local workers, and the effectiveness of IHRM in staffing.
This slideshow focus on the challenges associated with expatriate management. It divided into five parts: expatriate selection, expatriate Training &development,expatriate compensation,repatriates retention and a case study about P&G Expatriate Program.
This slideshow focus on the challenges associated with expatriate management. It divided into five parts: expatriate selection, expatriate Training &development,expatriate compensation,repatriates retention and a case study about P&G Expatriate Program.
Total rewards is a concept that describes all the tools available to an employer that may be used to attract, motivate, retains and engages the employee.
Total rewards may also refer to the function or department within HR that handles compensation and benefits, or the combined intrinsic and extrinsic rewards (or value) that an employee perceives.
An increasingly dynamic market in the GCC requires companies to plan for and minimize the movement of their top talent. Also, they must effectively address the increasing emphasis on "nationalization". This presentation offers help in these areas where needed.
Strategic role of compensation, strategic compensation policy, total compensa...Ramona Beharry
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Building a Compensation Plan Part 1: Strategy & Executive SupportPayScale, Inc.
Your compensation strategy is the cornerstone of an effective compensation plan, and without one you’ll face more difficulty and opposition when it comes time to implement your plan. By investing time in defining your compensation strategy you’ll increase the likelihood of gaining executive support for your compensation plan as well.
Join us for part one of Building a Compensation Plan and learn:
Why a compensation strategy is so critical
The three questions that help define your compensation strategy
How to get senior leadership involved in your plan.
You’ll walk away from this session with crucial knowledge of how to build a foundation under your compensation strategy that supports business priorities and gets your executive team on board. Skip step one at your own peril.
The achievement and benefit received by employees for their job performance in an organization are known as rewards. Employees join the organization within the certain expectation of reward. Some may be expecting for better salary and wages i.e., economic rewards while others may be seeking for facilities like accommodation, transportation, health, safety, and other benefits as rewards. Thus, economic and non-economic benefits provided by the organization to employees for their job performance regardless of their expectations is known as a reward. Employees must be communicated about the reward provision in an advance. (HRM)
The presentation highlights the important compensation policies of Nestle. It will help the viewers to understand the compensation management and distribution procedure.
2. International Compensation Strategies
• International compensation is understood as provision
of monetary and non-monetary rewards, including base
salary, benefits, perquisites and long and short-term
incentives, valued by employees in accordance with
their relative contributions to performance.
3. Objectives
• Attract individuals who arc competent and interested in
international assignments.
• Facilitate movement of expatriates from one subsidiary
to another, from the home country to subsidiaries, and
from subsidiaries back to the home country
• Provide a consistent and reasonable relationship
between the pay levels of employees at the
headquarters, domestic affiliates and foreign
subsidiaries.
• Be cost-effective by minimizing unnecessary expenses.
• Be consistent with the overall strategy, structure and
business needs.
4. COMPENSATION PHILOSOPHY
• Compensation philosophy is the set of values and
beliefs that an organisation has with regard to monetary
and non-monetary benefits payable to employees.
• Often is combined with a set of guiding principles that
further assist in compensation administration.
5. COMPENSATION PHILOSOPHY
• What are the goals of the organization’s compensation
system?
• What percentage of compensation should be linked to
individual/unit performance and what should be the
base salary?
• What is the role of performance appraisal in disbursing
compensation?
• How to target the positioning of compensation of
employees relative to market?
6. COMPENSATION STRATEGY
Employee Inputs Business and Industry end Labour
and Preferences Operating Inputs Market Practices and
Trends
Compensation Philosophy and Objectives Based upon Business, Operating
and Human Resource Requirements
Base Pay Organisation Performance or Fringe Compensation
Variable Pay. Non-monetary Benefits Administration
Delivery
and Other Monetary Rewards
and Recognitions
7. Components of Compensation
• Base Salary
• Incentives
• Allowances
• Benefits
• Taxes
• Long Term Benefits
8. Variables Influencing Compensation
Internal and external
MNC Internal relativities MNC External
Environment Environment
• Goal Orientation • Parent Nationality
•Capacity to pay •Labour market
•Competitive strategy characteristics
•Organisational culture •Local culture
•Internal workforce •Home and host country
composition government’s role
•Labour relations •Industry type
Staffing
•Subsidiary role •Competitors strategy
Orientation
International
Compensation Strategy
9. COMPENSATION ADMINISTRATION
• Establishing salary bands
• Developing rates of pay for jobs
• Linkages to performance appraisal
• Starting salary for new employees and
• Salary increases’ reviews