One of the first HR challenges an organization faces when it decides to go global is how to select and compensate the first expatriate. This booklet helps employers answer some key questions such as whether to conduct or purchase a survey of corporate practices, hire a consultant, follow the competition, be creative in designing pay strategies, negotiate with each expatriate candidate or simply pay the second expatriate the way the first one was paid, and so on.
North American organizations operating abroad have tried several different compensation approaches for expatriates with varying degrees of success. This booklet describes and compares the most common methods of expatriate compensation: negotiation; localization; the balance sheet; and lump-sum and cafeteria approaches.
As businesses continue expanding internationally, and as geographic and social boundaries blur, the global economy continually provides both challenges and opportunities for employers and employees both at home and abroad. Countries and governments operate autonomously, and differences persist in legal and social frameworks, working practices, corporate governance and management practices. Labor laws, tax regimes, social security structures, along with compensation and benefits structures all remain unique to each country.
This sole purpose of this book is to help total rewards professionals find solutions to complex international issues. It's a compilation of thoughts and data to enrich your understanding of all things global: strategic, technical and tactical.
This second edition is a collaboration of articles from workspan and the WorldatWork Journal (2005-2010). Plus, the collection now includes a listing of related surveys and "Creating a Sustainable Rewards and Talent Management Model: Results of the 2010 Global Talent Management and Rewards Study" full survey report by TowersWatson (2010).
This resource publication features article reprints from WorldatWork's respected publications, workspan magazine and WorldatWork Journal, from 1995-2000. It offers readers numerous resources on a variety of international HR topics, as well as selected references.