خلاصة:
Offshore employees (expatriates) working abroad are an important part of any organisational workforce, working and competing globally. The specific requirements of expatriates are quite different as compared to the local workforce of that particular company. These requirements range from base salary to the educational needs of their families, children, and spouses. The employers especially working in multi-national companies (MNCs) face challenges of satisfying and rewarding such diversified work force keeping in view of their wide-ranging requirements. No single reward package is identified as a part of HR Compensation Practices fulfilling these diversified needs. A combination of Cafeteria and Localised Approach is suiTable for addressing this problem. Factors that affect the Expatriate Compensation in motivating and retaining their offshore employees have been identified and their implication is discussed. Repatriation is also a challenge for the MNCs regarding their employees coming back to the home country. This study is valuable for both policy makers and industrialist for making strategies.
ملخص الجهاز:
Assistant Professor, Department of Management Sciences, COMSATS Institute of Information Technology, Abbottabad, Pakistan (Received: 15 July, 2013; Revised: 9 January, 2014; Accepted: 12 March, 2014) Abstract Offshore employees (expatriates) working abroad are an important part of any organisational workforce, working and competing globally.
pk Introduction Compensation is a very important aspect of workforce motivation, whether they are local staff or Expatriates, and international compensation discloses the abundant different versions of employee benefits.
(Reynolds, 1997) Therefore, in order to come out of this predicament, organizations tend to offer a compensation package economical enough to "attract", "motivate", and "retain" the expatriates (Cryne, 2004; Gould, 1999; Nazir et al.
Strategies/Types of Expatriate Compensation To compete against global business environment, it is very significant to analyze the organizational ability which can be achieved by reducing the gap between compensation costs by increasing the probability of winning expatriate assignment (Wentland, 2003).
A careful selection of the candidates and assessing the difficulty of expatriate’s assignment can help in developing a suiTable compensation model that involves the willingness of the expatriate assignment including the risk factors, market attractiveness, and the competitive advantage of the organizations of that particular country (Kotler, 1997).
In cases that offshore employees return to their home country, Repatriation Training Programs should be devised for the expatriates and their families for the adjustment with the local conditions.