Getting the Best Advisement in an Unfamiliar Labor Market

Often in business it is more about asking the right questions than having the right answers. As any human resource director knows, having an established network of resources is vital for successfully analyzing policy issues and recommending positions to management. Nowhere is this more apparent than in global human resource management. As quickly as markets and economies change, so too will policy have to be adapted for those changes.

In this assignment, you will decide what kind of information is important to have and whom you would choose to advise you. Just like in the regulatory environment, the specialist holds the most current information, and unless you are a large conglomerate, you probably will not choose to have that expertise in-house because the cost does not make sense for most companies.

Currently, there are a number of excellent consultants specializing in human resource global strategy who provide well-recognized surveys. Many of the surveys are quite expensive but contain rich data. Far more economical will be the professional human resource organizations that will collect information for their membership. There are always the popular management books as well.

For this assignment, consider what combination of resources you believe would be ideal to help you make the most effective decisions if you were practicing international human resources, by considering the following questions:

• Who will be on your advisory board for getting the pulse of the local country’s policies and practices for compensation and benefits?
• Why is an advisory board important in assisting the operations of a multinational corporation?
• What kind of information would you want to have for developing a total compensation strategy that includes benefits and incentive plans?

Assume you are an HR representative for a multinational company known for being a leader in the industry. In this assignment prepare a one- to two-page paper that addresses the following required elements:

• Prepare a report that selects a team of advisors for your compensation and benefits policy team.
• Explain why you chose this combination and what information you specifically want from each member.
• Analyze how you expect your company to retain its position as the premiere employer wherever it may operate in the world.
• You may want to review the Web sites of some of the larger human resource consultants, as well as professional organizations, to determine which ones might be good for your needs.

Explain which individuals are best suited when it comes to having knowledge of local country policies and practices regarding compensation and benefits.(33%)[Competency]

 

Explain the types of information necessary for developing a total compensation strategy.(33%)[Competency]

 

Provide a rationale for how an advisory team is assembled and how each member is selected.(34%)[Competency]

 

Criteria	Non-performance	Basic	Proficient	Distinguished	Comments
Identifies who has the knowledge of local country policies and practices regarding compensation and benefits.	Identifies who has the knowledge of local country policies and practices regarding compensation and benefits, but does not explain why these individuals are the best for this need.	Explains which individuals are best suited when it comes to having knowledge of local country policies and practices regarding compensation and benefits.	Explains which individuals are best suited when it comes to having knowledge of local country policies and practices regarding compensation and benefits and explains how these individuals were chosen.
Does not list the types of information necessary for developing a total compensation strategy.	Lists, but does not explain, the types of information necessary for developing a total compensation strategy.	Explains the types of information necessary for developing a total compensation strategy.	Explains and justifies the types of information necessary for developing a total compensation strategy.
Does not provide a rationale for how an advisory team is assembled and how each member is selected.	Provides general rationale for how an advisory team is assembled, but does not explain why specific individuals were selected.	Provides a rationale for how an advisory team is assembled and how each member is selected.	Provides a rationale of how an advisory team is assembled and analyzes how each member is selected.