2000 Guide to Global Compensation and Benefits Book

The primary goal of Guide to Global Compensation and Benefits is to provide practitioners with the tools needed to design and manage global compensation and benefits programs and to provide advice on how to use those tools within the context of sound corporate strategies. The Guide is divided into five sections and three appendixes. Section 1, an overview of the field of global compensation and benefits introduces the reader to the evolving remuneration challenges faced by corporate practitioners as their companies grow from purely domestic organizations to global corporations. Section 2 examines expatriate compensation strategies and practices. Because of the inherent complexity of the subject and the small numbers of employees involved (less than 2% of the overseas workforces of North American and European corporations), there has been a tradition of surveying the practices of other companies and adopting a majority position with the hope that this represents best practice. Indeed, this section includes the results of several surveys and suggests other similar sources of information. The intent of this section, however, is to describe the many options that have been developed for compensating expatriates and to guide readers to the approach or combination that best meets their objectives, demographics, dynamics, and needs. It includes extensive "how to" material and a thorough discussion of expatriate taxation. Section 3 covers government social security programs and corporate employee benefit programs worldwide. A well-known consultant and a leading corporate benefits executive describe significant differences in government programs around the world and recommend approaches to satisfy the complex legal and financial reporting requirements of both headquarters and foreign governments and other agencies. They describe how to design corporate benefits programs to meet the varying requirements of different countries. Section 4 divides the world into nine major regions and countries. Specialists summarize compensation and benefits practices within each area, highlight major differences in practices within the area and compared with other regions, and provide guidance on additional sources of information and assistance. Section 5 analyzes specific compensation challenges for motivating professionals in sales and research and development as their corporations globalize. A leading consultant assesses the impact of technology on the field. Finally, based largely on the foundation of the earlier chapters, a speculation about where the field is headed is provided.Read More