TM - August 2007 - (Page 27) Four Best-Practices Approaches to Global Compensation Challenges Have a centralFind a data-privacy Target your focus for market Accommodate local cultures. ized system for strategy that best data to meet specific needs. If you’re trying to determine compensation meets your organiza- Salary surveys might not be availwhen to schedule your planning management. tional needs. One size able for new or emerging markets. cycles, take local customs into A centralized sysdoes not fit all. With In areas such as Brazil, China and consideration. In Israel, employtem reduces IT multiple options for Russia that have a shorter history ees might take extended time off expenses, and it managing data storage of U.S. companies’ presence, be pre- during the Jewish high holidays. provides more and sharing, choose one pared to go out and do individual During the European summers, stringent budgetary that delivers the flexisurveys. To determine the cost of many organizations close down control and the bility you need and talent, do not price 150 jobs (as you for seasonal vacations. When data visibility enables you to remain can in more-developed markets). operating globally, scheduling a necessary to make compliant in the areas Rather, focus on the top 20 jobs you common focal planning period informed decisions. in which you operate. will operate in this emerging area. becomes much more challenging. 27 August 2007
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