Discuss the main challenges to effective compensation management in multinational companies. Illustrate your answer with examples.
Answers
Answer:
Human Resource is the most critical resource for any organization. In todays world many MNCS are operating globally and to keep them on the competitive position they need to uses their human resources effectively and reasonably to achieve optimal business results .The success of any company highly depends upon how efficiently its work force performs and how they are motivated to do so. This can be achieved by providing adequate wage for their work and compensation as per the industry standards. There are organizations (especially from the emerging economies) that are taking advantage out of this situation. The organization is the best judge of the situation it is in and should apply the best mechanism of rewards for its international employees to keep them motivated high enough to perform the best in terms of performance.
Explanation:
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