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International Remuneration (TYPES (Hourly, Commissions, Salary, Benefits,…
International Remuneration
TYPES
Hourly
Commissions
Salary
Benefits
Benefits
Incentives and Bonuses
APPROACHES
Home-Based Approach
Host-Based Approach
Hybrid
FACTORS AFFECTING
INTERNAL
Job Evaluation and Appraisal
Ability to Pay
Business Strategy
Workplace Culture
Organisation Culture
Employee
EXTERNAL
Localisation vs Standardisation
Taxation
Culture
Economic Factors
Competitive Labour Market
Laws and Regulation
Collective Bargaining, Employee Representation and Government Mandates
Definition
Remuneration is one of the most important HRM functions. It can help to reinforce the organization's key culture and key values and to facilitate the achievement of its strategic business objectives. Remuneration is what employees receive in exchange for their work. Includes pay and benefits (total remuneration) or just pay i.e. cash remuneration.