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Compensation Practices Around the World

Why is it important for HR and compensation professionals to learn about compensation practices in other parts of the world? Support your answer.

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I think that it is great to examine what is going on outside of North America.

For HR personal, the goal is to attract top talent, and keep them. Employee attrition or turnover is expensive for a company, and has other effects on the moral of employees and managers. As well, each time an employee leaves there is a long list of "to-do" items in order to replace this person. You need to recruit someone new, train them, have the old employee show them the ropes and teach them about their position.

If we could learn of ways to make people more satisfied in their job, then perhaps this will reduce employee attrition and help maintain top talent.

Compensation practices differ drastically in the world. Let us first look at vacation days. According to ...

Solution Summary

The solution examines compensation practices around the world.