By Luis Gomez Mejia, Steve Werner
Reimbursement is a scientific method of supplying financial worth and different advantages to staff in trade for his or her paintings and repair. yet pay and prerequisites turns into a extra complex factor for multinational businesses which function throughout varied destinations and cultures, and who hire an more and more different diversity of body of workers. This distinct new textual content provides in-depth research of the main topics and rising issues confronted by means of worldwide firms whilst facing reimbursement matters. the 1st part, ‘Foundation Concepts’, appears to be like on the layout of reimbursement programs for a few varied worker teams; from offer chain administration to analyze and improvement, in addition to moral issues while facing a world context, and the idea that of functionality comparable pay. the second one part, ‘Global Applications’, appears to be like at present debates within the box, together with the impact of nationwide cultures on repayment schemes, discrepancies in CEO pay, and contrasts in wages among varieties. a part of Routledge’s worldwide HRM, this can be is a useful textual content for any scholar of HRM, company and administration, or any practitioner operating during this region.
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Extra resources for Global Compensation (Routledge Global Human Resource Management)
St-Onge et al. (2001) empirically confirmed that incentives systems for directors which are based on stock options not only serve to align the interests of principal and agent, but are also used in a symbolic sense as a sign that the company is imitating the practices carried out by other firms within the sector (independently of whether these provide greater or lesser efficiency for the organization). Thus, performance based compensation systems are not only used to minimize agency problems (Lazear, 1999), but also as mechanisms which the organization uses to offer a specific image in its environment and to attract a certain type of employee.
Personnel Psychology, 54: 115–45. Zucker, L. 1987. Institutional theories of organizations. Annual Review of Sociology, 13: 443–64. 2 National differences in compensation The influence of the institutional and cultural context Gregorio Sánchez Marín This chapter presents the main characteristics of the compensation systems designed by organizations in different countries in the three economically most important geographical areas of the world: Europe (Spain and Germany), America (USA and Mexico) and Asia (Japan and China).
China The philosophical ideas of Confucius, which still prevail today in the People’s Republic of China, underlie the importance of education, obedience to authority and interpersonal harmony as aspects which must direct the actions and attitudes of the individual. This philosophy, linked to traditional Chinese values of harmony, collectivity, perseverance, reciprocity and family duty, has a strong influence on the development of labor relations in Chinese businesses and, hence, in the design of the management of human resource practices, including those of compensation (Chou, 2004).