International reward strategy - home, host and globalist approaches to compensation and benefits

The components in Relocate Global’s new online mobility toolkit provide information, practical advice and support for HR, global mobility managers and global teams operating overseas, and are now available to download.  The content of this Relocation Policy Design and Review: International reward strategy - home, host and globalist approaches to compensation and benefits factsheet – part of the Relocation Policy Design and Review Toolkit – includes:

• Thought leader viewpoint
• The need for a strategic approach to international reward
• Theoretical frameworks driving international reward approaches
• Strategic choices: home, host and globalist approaches to compensation and benefits
• Building a policy suite fit for purpose
• Useful contacts
• Further reading

To keep up to date with best practice, and to gain strategic insight and operational know-how, download your free copy today. 

SAMPLE CONTENT

The need for a strategic approach to international reward

Strategy provides an over-arching framework for decision-making. It refers to making choices and giving full consideration to the consequences of judgements made. Being outcomes-driven, as well as supporting the overall objectives of the organisation, international reward must be considered within a strategic context.With regard to the deployment of international assignees and other globally mobile personnel – such as frequent business travellers – reward strategy must consider how individuals can be motivated to undertake what can be a disruptive and potentially stressful life event. Simply throwing resources at personnel to encourage them to move is not a sensible strategic approach. A wide variety of factors needs to be weighed up in the decision-making process, balancing how best to engage internationally mobile staff set within the context of meeting business objectives efficiently and effectively, and making the organisation ever more competitive. Bearing this in mind, organisations’ global mobility rewards should not be excessive, but an approach will be required that attracts, motivates and retains the talent considered critical to add value to the business.Devising an appropriate international reward strategy can draw upon evidence-based practice. The CIPD defines this as “an approach for improving decision-making in HR, which takes account of the best available evidence and critical thinking”.

 

For a full list of Global Mobility Toolkit components, and to download your free resources, visit our Global Mobility Toolkit Resource Centre page.

For information on sponsorship opportunities, call Fiona Murchie, managing editor, on +44 (0)1892 891334, or email toolkit@relocatemagazine.com

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