Compensation is a systematic approach to providing monetary value and other benefits to employees in exchange for their work and service. But pay and conditions becomes a more complicated issue for multinational companies which operate across different locations and cultures, and who employ an increasingly diverse range of personnel. This unique new text gives in-depth analysis of the key themes and emerging topics faced by global enterprises when dealing with compensation issues. The first section, ‘Foundation Concepts’, looks at the design of compensation packages for a number of different employee groups; from supply chain management to research and development, as well as ethical considerations when dealing with a global context, and the concept of performance related pay. The second section, ‘Global Applications’, looks at current debates in the field, including the influence of national cultures on compensation schemes, discrepancies in CEO pay, and contrasts in wages between industry types. Part of Routledge’s Global HRM, this is is an invaluable text for any student of HRM, Business and Management, or any practitioner working in this area.
Author(s): Luis Gomez Mejia, Steve Werner
Edition: 1
Year: 2008
Language: English
Pages: 248
Book Cover......Page 1
Title......Page 6
Copyright......Page 7
Contents......Page 10
Illustrations......Page 14
Notes on contributors......Page 15
Foreword......Page 18
Preface......Page 20
Acknowledgments......Page 22
SECTION 1 Foundational concepts......Page 24
1 The influence of institutional and cultural factors on compensation practices around the world......Page 26
2 National differences in compensation: The influence of the institutional and cultural context......Page 41
3 Universal and national norms for Organizational Compensation Ethics: Using severance pay as an illustration......Page 52
4 Performance measurement issues, incentive application and globalization......Page 64
5 Contracting for success in the era of globalization: Aligning the supply chain manager’s compensation contract with the company’s supply chain strategy......Page 80
6 Incentives to stimulate innovation in a global context......Page 95
7 Executive compensation in an international context: The role of informal and formal institutions......Page 109
8 Shareholders’ value maximization and stakeholders’ interest: Is CEO long-term compensation the answer?......Page 123
9 A global perspective on executive compensation......Page 136
SECTION 2 Global applications......Page 152
10 The global convergence of compensation practices......Page 154
11 Compensation and national culture......Page 165
12 Pay for performance for global employees......Page 181
13 Global wages in industries with low entry barrier occupations: The case of quick service restaurants, call centers and hotels/motels......Page 192
14 Employee benefits around the world......Page 202
15 Explaining high US CEO pay in a global context: An institutional perspective......Page 215
16 Beyond financial performance: Is there something missing in executive compensation schemes?......Page 229
Index......Page 242
