Discuss the strengths and weaknesses of the following methods for establishing base pay in international contexts
Discuss the strengths and weaknesses of the following methods for establishing base pay in international contexts
DQ1
Please select ONE of the three questions below to answer:
1.Discuss the strengths and weaknesses of the following methods for establishing base pay in international contexts: home country-based pay, headquarters-based pay, and host country-based pay.
2.For a country of your choice, conduct research into the cultural characteristics that you believe should be important considerations in establishing a core compensation program for a U.S. company that plans to locate there. Discuss these characteristics. Discuss as well whether you feel that pay-for-performance programs are compatible. If compatible in any way, what course of action would you take to promote this compatibility?
3.Allowances and reimbursements for international assignments are costly. Should companies avoid international business activities? Explain your answer. If you answer no, what can companies to do minimize cost?
Guidelines: In your answers please draw from your own professional experience and provide examples from your own life, either as a leader, helper, employee, or observer. Review the reading, draw from your own ideas, examples or experience– and conduct some additional research as needed.
DQ2
Research Paper Guidance via Weekly Discussion:
Please note the following: the weekly discussion assignments will guide you through the writing of your research paper, to allow you to begin working through the sections of your paper and receive feedback on it. This semester you are all going to be entrepreneurs. Pretend that you are planning to open your own business within the next year, and that you are writing your business plan. For your research paper, you will analyze the IT requirements for your proposed business and write a proposal for how you plan to meet the IT needs of your new company. Each week on the discussion board, you will have an activity related to your research paper. This is an opportunity for you to begin formulating ideas for your research paper and for you to receive constructive feedback from your peers and your instructor, as you develop your ideas.
R1
Hello Class,
International assignments are an essential aspect of the global economy, as they enable companies to expand their operations, increase market share, and tap into new sources of talent and innovation. However, the allowances and reimbursements associated with international assignments can be costly for companies. While avoiding international business activities may seem like a reasonable solution to minimize costs, it is not a viable option for most companies. Instead, companies can take several steps to minimize the cost of international assignments.
First, companies can develop a comprehensive compensation and benefits package for international assignees that balances the need to attract and retain top talent with the need to control costs. This package should include base salary, performance-based incentives, and benefits such as housing, health insurance, and education allowances. By providing a competitive compensation and benefits package, companies can motivate international assignees to perform at their best and reduce the risk of turnover.
Second, companies can implement cost-saving measures such as housing and transportation allowances that are commensurate with the cost of living in the host country. This can help to minimize the overall cost of the international assignment without compromising the quality of life for the assignee.
Third, companies can leverage technology to reduce the need for international travel. For example, video conferencing can be used to facilitate virtual meetings, reducing the need for face-to-face interactions that require travel. This can help to minimize travel-related expenses and reduce the carbon footprint of international assignments.
Fourth, companies can consider partnering with local companies or hiring local talent to reduce the cost of international assignments. Local talent can provide valuable insights into the local market and culture, and partnering with local companies can help to reduce the cost of establishing a presence in a foreign market.
In conclusion, while the allowances and reimbursements associated with international assignments can be costly, avoiding international business activities is not a viable option for most companies. Instead, companies can take several steps to minimize the cost of international assignments, including developing a comprehensive compensation and benefits package, implementing cost-saving measures, leveraging technology, and partnering with local companies or hiring local talent.
References
Collings, D. G., Scullion, H., & Morley, M. J. (2017). Contemporary debates and new directions in expatriate management research. Journal of World Business, 52(1), 1-6.
Dowling, P. J., Festing, M., & Engle Sr, A. D. (2017). International human resource management. Cengage Learning.
Shen, J., Chanda, A., D’Netto, B., & Monga, M. (2009). Managing diversity through human resource management: an international perspective and conceptual framework. The International Journal of Human Resource Management, 20(2), 235-251
R2 &R3
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