Topic > Globalization and Compensation - 1502

The advent of the multinational organization offers unique challenges for HR professionals in the area of ​​compensation and benefits. Effectively administering human resources programs involves challenges for which there is no clear historical path and must address not only the training and development of the multinational employee, but in many cases the family, which can be a costly endeavor due to the high rate of human resources. of failure that depends on the expatriate's worldview. Compensation programs exist under the purview of the human resources professional within the multinational organization (MNO), and the difficulty in creating and maintaining an effective, creative and competitive compensation program, in recruiting high-value human capital personnel keeping the company profitable is a daunting task and can be overwhelming at times. Finding the right candidate, with the right attitude can be half the battle in recruiting and placing expatriates versus host country nationals. Focusing on the three main attitudes of global management; polycentric, ethnocentric and geocentric, the success or failure of any global venture could swing the pendulum towards success or failure, as “the failure of an expatriate can be costly if he or she leaves the company” (Schaffer, Harrison, Gregersen, Black & Ferzandi, 2006, p. 110). The discussion explored in this paper will highlight some issues that arise from maintaining a global employee presence on the world stage and globally recognized best practices related to expatriate and host country compensation. Polycentric Attitude The polycentric Attitude is the belief that employees in the host country, which is the country in which a company...... middle of paper...... HV (2012). Implementation of Article 32 of the Convention on the Rights of the Child as a national statute: protection of children from abusive labor practices. Case Western Reserve Journal of International Law, 44921.Lee, H. W. (2005). Factors influencing expatriates. The Journal of the American Academy of Business, 273-278.Shaffer, M., Harrison, D. A., Gregersen, J. H., Black, J. S., & Ferzandi, L. A. (2006). You can take it with you: Individual differences and expatriate effectiveness. Journal of Applied Psychology, Vol. 91: 109-125Shelton, T. (2008). Global Compensation Strategies: Managing and administering split pay for an expatriate workforce: Multinational companies need an effective and efficient solution to manage, monitor and calculate complex split pay arrangements. Compensation and Benefits Review, 40(1), p. 56-60. doi:10.1177/0886368707312219