Lesson 2 Global Economy

INSTRUCTIONS:

1) Please watch the following video:

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http://globalbusinessprofessor.com/best-practices-for-developing-a-world-class-global-compensation-strategy/

2) Based on the information contained in the video, please respond to the following:

a) What are the biggest challenges companies face today with regards to compensation?

b) What do companies that are considering going global today need to consider when it comes to paying their employees? How can companies ensure their compensation packages are fair and equitable across the globe?

SAMPLE SOLUTION

a. What are the biggest challenges companies face today with regards to compensation?
Compensation issues are at the forefront of companies and these are significantly affected by many factors such as taxation. The biggest challenges faced by companies regarding compensation arise from the passage of the Tax Cuts Jobs Act, particularly, the repeal of non-taxable moving expenses. The changes meant that moving expenses paid to or on behalf of the employee are now considered taxable events (Global Auto Industry.com., 2018, July 26).
Secondly, employees that conduct the move by themselves because they have been granted work permits may not be as productive because they still focus on their families and the move itself (Global Auto Industry.com., 2018, July 26). With this companies find themselves struggling to establish whether an employee…

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