Human resource management
This International Compensation Experiential Exercise necessitates your answering the questions from the employers perspective.
Assignment Scenario:
The Vice President of Human Resources for the international position you pretended to apply for in the International Job Search experiential exercise is trying to determine the appropriate compensation for the job. Based on the key components of an international compensation program mentioned in your textbook, you are being asked to develop a compensation package for the position you pretended to apply for in the international job search assignment. Explain the rationale for your design. Your recommendations must include numerical data, percentages, etc. based on the text and research, and must include your response to the following instructions:
1. a) Identify and describe the compensation approach you believe is best for the position you have applied for? (Going Rate Approach or the Balance Sheet Approach) b) Keeping the international firms location in mind, detail the advantages and disadvantages of this approach as they relate to the position you applied for.
2. a) How much of a base salary will you propose for the position? b) What percentage of base salary will the inducement comprise? Be specific express the computations in percentage (%) and in the currency amounts (Pesos, Euros, Franc, Yen, Etc.) from the region for which you have applied.
3. a) Of the Allowances mentioned in your textbook, identify at least four for the international assignment. b) What percentage of base salary will the Allowances comprise? Be specific express the computation in % and in the currency amounts from the region for which youve applied (Pesos, Euros, Etc.). Be sure to include the COLA as one of your allowances (You will have to do some research here)
4. a) Now that you have determined the components of the salary for the position, what Benefits will you include in the compensation package? b) What are the main points you will have to consider when deciding how to provide the Benefits you are proposing? For example, what considerations are there for pension plans?
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