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Wage rates in the United States are higher than similarly sk

Wage rates in the United States are higher than similarly skilled workers in other countries such as China, Mexico and India. Consequently, many U.S. businesses have outsourced their manufacturing and production needs to take advantage of these lower wage rates. Discuss how, working collaboratively, the federal government and U.S. businesses can modify employee compensation packages to become more globally competitive.

My text says, "The components of a compensation package vary significantly among different regions of the world and even country by country. Two major factors that influence the design of compensation packages are (1) major differences in tax rates and tax deductions from country to country, and (2) government-provided or -directed social security and welfare systems" (p.34). It seems simple enough - but I am still coming up blank on how they can modify these packages to become more globally competitive??

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Wage rates in the United States are higher than similarly skilled workers in other countries such as China, Mexico and India. Consequently, many U.S. businesses have outsourced their manufacturing and production needs to take advantage of these lower wage rates. Discuss how, working collaboratively, the federal government and U.S. businesses can modify employee compensation packages to become more globally competitive.

My text says, "The components of a compensation package vary significantly among different regions of the world and even country by country. Two major factors that influence the design of compensation packages are (1) major differences in tax rates and tax deductions from country to ...

Solution Summary

Wage rates in the United States are higher than similarly skilled workers in other countries such as China, Mexico and India. Consequently, many U.S. businesses have outsourced their manufacturing and production needs to take advantage of these lower wage rates. Discuss how, working collaboratively, the federal government and U.S. businesses can modify employee compensation packages to become more globally competitive.

My text says, "The components of a compensation package vary significantly among different regions of the world and even country by country. Two major factors that influence the design of compensation packages are (1) major differences in tax rates and tax deductions from country to country, and (2) government-provided or -directed social security and welfare systems" (p.34). It seems simple enough - but I am still coming up blank on how they can modify these packages to become more globally competitive??

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