GRP – GR7: International Remuneration - An Overview of Global Rewards

International Remuneration - An Overview of Global Rewards (Certification Exam GR7)

Gain an overview of total rewards and its role within global organisations. Topics include the development of effective compensation, benefits and work-life strategies that respond to organisational and environmental complexitles, a discussion of expatriate pay assignments, analysis of the influence of governments on rewards practices and the role of total rewards within the overall global management of human resources.

• Examine why companies globalise and the impact of it.
• Identify internal and external influences that affect the design and delivery of global rewards.
• Discover considerations to examine when developing a global compensation/rewards strategy.
• Learn approaches and issues associated with managing international assignments.
• Identify areas to assess and key factors related to successful cross-border mergers and acquisitions

What You Will Learn

Globalisation and Total Rewards
• Globalisation
• The global business environment
• Total rewards

Influences on Reward Systems
• Influences on total rewards
• The impact of culture and other influences
• Rewards planning
• Global practices

Global Compensation Practices
• Elements and factors to consider in compensation/remuneration
• Base pay delivery
• Variable pay delivery
• Executive compensation
• Effective global practices
• Compensation challenges

Global Benefits Practices
• Influences on global benefits
• Global benefits strategy
• Statutory and non-statutory benefits
• Cost of non-statutory benefit programmes
• Elements of benefits
• Social security
• Health care benefits
• Funding health and welfare benefits
• Retirement benefits
• Retirement benefit plans

Work-Life, Performance and Recognition, Development and Career Opportunities
• Rewards in the global workplace
• Global performance management
• Impact on total remuneration

Managing International Assignments
• Definitions
• Evolution of international assignments
• International assignments
• Compensation systems
• Retirement issues

Cross-Border Mergers and Acquisitions
• Definitions of key terms
• Cross-border mergers and acquisitions
• The role of human resources
• The Importance of culture
• Successful cross-border mergers and acquisitions