The most challenging aspects of compensation and benefit plans for the international organization include differences in labor laws, market rates, hardship, and taxation regimes. For instance, it would be impossible to have the same plan being applied in the UK to be used in Nigeria. In the UK, the cost of living is higher, thus attracts a higher remuneration package. In Nigeria, the level of hardship is higher than in the UK, hence higher compensation in that matrix. The market rates for remuneration also vary from one economy to another. In addition, the labor laws and taxation regimes are dissimilar from one region to another.
What are the most challenging aspects of compensation and benefits plan design for organizations doing business globally?
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Academic.Tips. 2021. "What are the most challenging aspects of compensation and benefits plan design for organizations doing business globally?" June 10, 2021. https://academic.tips/question/what-are-the-most-challenging-aspects-of-compensation-and-benefits-plan-design-for-organizations-doing-business-globally/.
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Academic.Tips. "What are the most challenging aspects of compensation and benefits plan design for organizations doing business globally?" June 10, 2021. https://academic.tips/question/what-are-the-most-challenging-aspects-of-compensation-and-benefits-plan-design-for-organizations-doing-business-globally/.
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"What are the most challenging aspects of compensation and benefits plan design for organizations doing business globally?" Academic.Tips, 10 June 2021, academic.tips/question/what-are-the-most-challenging-aspects-of-compensation-and-benefits-plan-design-for-organizations-doing-business-globally/.
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