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Up to this point you have learned about the different aspects of compensation and benefits, including current trends, internal and external equity, performance evaluation, the role of the board of directors in creating compensation for executives, and international compensation. Probably the most difficult of these concepts is that of international compensation, because it is so heavily dependent upon the country. There are so many different laws and regulations that govern compensation in different countries that it makes it difficult for an HR department in an international company to create and maintain effective plans. However, as sometimes difficult as it is, this is something that must be done effectively in businesses today, as the majority operates internationally to some extent.
Assignment: Develop a Compensation Plan for International Personnel
Due to the increased globalization of your business, management has asked you to design a compensation program for international personnel. Individuals will be coming to the United States and traveling from the United States to other countries. Describe in detail the most important elements of the compensation and benefit programs for individuals moving ?in either direction.? Explain in detail some of the challenging issues and prospects of doing business abroad. Issues will include dealing with international travel, cultural issues, currency fluctuation, and global unrest. Prepare a series of options for management to consider, including a final recommendation for a plan. You may choose the international countries in which the organization operates
Support your paper with seven (7) scholarly sources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.