Which of the following is generally NOT an important element managers consider while developing compensation packages for employees working abroad? A) personal trips B) allowances C) base remuneration D) incentives E) benefits
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Meaning of compensation package for employee:
A compensation packages in simple term refers to total amount of monetary and non-monetary rewards that an employee receives in an exchange for their work.
The purpose of a compensation package is to attract, retain and motivate employees.
Compensation packages depends on size, industry and location of the employer as well as the level of skills and experience required.
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- Why might compensation programs and hiring practices need to have local adaptation? What would be the risks if these were not adapted to local markets?Why might compensation programs and hiring practices need to have local adaptation? What would be the risks if these were not adapted to local markets?You are the compensation specialist at an organization making luxury bags that are particularly well received on the international market. Due to currency fluctuations, the profits this organization generates vary widely from year to year. Aiden Wong, who works for this organization, is in charge of a large product development group where the emphasis is on flexible performance, creativity, and “doing whatever it takes to get the job done.” What kind of reward system would you recommend for this group of employees? In particular, should there be a large incentive component? Should rewards focus mostly on money, or should this organization work hard to incorporate the other 12 rewards
- You are the compensation specialist at an organization making luxury bags that are particularly well received on the international market. Due to currency fluctuations, the profits this organization generates vary widely from year to year. Aiden Wong, who works for this organization, is in charge of a large product development group where the emphasis is on flexible performance, creativity, and “doing whatever it takes to get the job done.” What kind of reward system would you recommend for this group of employees? In particular, should there be a large incentive component? Should rewards focus mostly on money, or should this organization work hard to incorporate the other 12 rewards noted in Chapter 10 of the textbook?Pay-for-performance compensation models improve employee engagement and retention by clearly tying employee or company achievement of performance goals to tangible financial rewards. 1. What are the advantages and disadvantages if pay-for-performance compensation model will be adopted by the government? 2. Which government agency will benefit from this compensation model?Which of the following statements is true of how useful the notion of national culture (Hofstede's dimensions) is when managing international pay? A. National culture should only be a starting point, as there will likely be a great deal of variance within a country regarding cultural values between individuals. B. Managers should rely on the national culture to manage international pay. C. There is little difference in cultures and cultural values within or between countries. D. The importance of national culture on compensation decisions is, if anything, understated.
- a. Give recommendations of international compensation in Coca Cola Company. b. What is important findings of international compensation in Coca Cola Company.Answer the following: 2. Do you think, the procedures are still applicable at this present times? Identify the procedure/s in which you think not anymore applicable. 3. What can you suggest to improve the recruitment procedures of Unilever Kenya Limited?On one hand, we are appealing to the employee through intrinsic rewards, on the other hand we have to ensure that weare complying with South African legislation. Discuss the components of a compensation system and the variouslegislation involved in strategic compensation.
- 18 - Which of the following is not among the norms emphasized while defining wages in businesses? a) Justice B) Profit Maximization NS) Equity D) The value of the business TO) Need34 - Which of the following is the type of wage that represents the payments that the employee does not receive regularly, such as premiums, stock bonuses? a) Side Rights B) Basic wage NS) Social assistance and services D) variable fee TO) Minimum wageMexicana’s Compensation Strategy For many businesses in today’s belt-tightening economy, decisions on pay need to be strategic to ensure that employees are treated fairly and to ensure that businesses can remain viable. This requires knowing what your competitors pay their employees and knowing your own salary budget. But knowing what your competitors are paying can be both valuable and painful. As a primary stakeholder and former CEO of Mexicana (a fast growing chain of fresh Mexican restaurants) Bongani Ndlovu knew he was competing against some restaurant chains with competitive compensation systems. Mexicana is a fresh Mexican grill featuring Baja-inspired foods that are made from scratch daily. Following a trip to Cabo San Lucas on the Baja Coast in Mexico, Mexicana founders Bongani and Zandi Ndlovu were inspired with a vision to bring the freshly made Mexican cuisine with the vibrant lifestyle to South Africa. They started their first restaurant in 2008, and after just 13 years,…