{"id":8260,"date":"2013-01-30T05:15:37","date_gmt":"2013-01-30T05:15:37","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=8260"},"modified":"2024-04-12T14:14:13","modified_gmt":"2024-04-12T08:44:13","slug":"designing-international-compensation-plans","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/designing-international-compensation-plans\/","title":{"rendered":"Designing International Compensation Plans"},"content":{"rendered":"
\n
\"Designing<\/a><\/figure>\n<\/div>\n\n

Designing International Compensation Plans-<\/strong> Many multinational companies are struggling to design international compensation programs as globalization gains control over the international business environment. Companies need strategies that take competitive, cultural, and operational issues into account to remain competitive. A daunting task, this may be done successfully if the task is approached with a clear strategic plan; simple, flexible approach and top-notch communication. Companies are also beginning to recognize that well conceived global rewards strategies can achieve significant cost savings through economies of scale, as well as meet the needs of internationally mobile employees. For the development of a global compensation plan, a sound global rewards strategy that is aligned to business objectives must be developed. It is critical to develop a community of guidelines and practices with consistent communication of key messages. Other factors that need to be considered include employee expectations, cultural and socio-economic factors, tax, legal and regulatory requirements and local market practices.<\/p>\n