Global Pay, Job Description Analysis And Development, Appraisal And Compensation

1928 words - 8 pages

Global Pay Paper PAGE 1
Novelette AnglinHRM 424/0545Global Pay PaperJocelyn FriemarkUniversity of PhoenixCompensation ParityWhether a company operates in a single country or many countries, we are uniquely positionedTo help develop effective total compensation programs. The transition to a global totalCompensation platform allows companies to be more competitive locally and internationally,And To ensure internal parity in the way they reward their employees.We help companies align their executive and employee compensation (base pay, annualIncentives, long term incentives, and local and international stock option plans) with businessObjectives, and solve the unique challenges of global stock option plans by focusing on riskManagement, cost reduction, and employee perception of value.By blending our HR and financial expertise, we are able to help companies tie their employeeRewards to business goals and shareholder value.Total compensation services include:Executive compensation programsTotal compensation planningAnnual incentive and stock plan design servicesWage and salary advisory servicesGlobal equity plan servicesCommunicationExpatriate EmployeesExpatriate workers are valued employees: higher-than-average income earners with promisingFutures on temporary assignments that average three to five years. These employees eventuallyA mass high levels of disposable income, largely because of generous financial incentives andExpense coverage provided by employers. Typically, they earn more than their counterparts inThe home country even before adding the additional expense items associated with the typicalExpatriate assignment. Organizations can use compensation packages to enhance theEffectiveness of expatriate assignments. However, compensation policies can create conflict ifLocals compare their pay packages tote expatriate's and conclude that they are being treatedUnfairly. Planning compensation for expatriates requires management to follow three importantGuidelines:Provide the expatriate with a disposable income that is equivalent to what he or she wouldReceive at home, This usually requires granting expatriate employees an allowance for priceDifferences in housing, food, and other consumer goods. Allowances for children's schoolingAnd the whole family's medical treatment may also be necessary. Corporate Resources groupPublishes the best-known cost-of-living index for worked locations.Maintaining income equality with home office is not an exact science, for example, findingHousing in Happen comparable to that available in U.S. suburbs is nearly impossible, but as aGeneral rule, it is better to err on the side of generosity.Organizations also should provide an explicit "add-on" incentive for accepting an internationalAssignment. This type of incentive is one that may take several forms. The company mayProvide a sign-on bonus before departure. Or it may offer the expatriate employee a percentageIncrease Over his or her home base...

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