International Human resources management Essay Example | Topics and Well Written Essays - 2000 words

global mankind resources management - Essay ExampleII. LITERATURE REVIEW i. Provides what other researchers have discussed about the factors taken into considerations forward mise en scene earnings such as setting the wage high in order to be active and attract good labor force. ii. Labor market conditions or the talk terms power of employees or real laws of labor unions can influence wage payment. iii. The empirical research carried out provided the theoretical prediction that the bargaining wage tends to be lower in places where there are high rate of unemployment. III. FACTORS TO CONSIDER IN SETTING THE WAGES a) British expatriate directors and engineers i. Availability of expatriate managers and engineers capable of fulfilling the obligations and responsibilities of the job ii. Determining the level of job demand for prospective employees or unemployment level in a certain country iii. avocation setting and organizational needs. b) Local managers engineers and manufactu ring staff i. The wage compensation laws prevailing in a given area and the attractiveness of the community ii. The cost of living and benefits that the company would realize iii. playacting job evaluation IV. CONCLUSION i. Provides the summary of the factors that IHRM should take into considerations before setting wage payment International Human Resources Management Introduction The International human resource film directors and other top management teams of transnational companies have nowadays realized that globalization is the most critical problems many a(prenominal) multinational enterprises are approach today. They also acknowledge that it has become difficult to determine the internalization strategies and factors that they will employ in setting proceeds for their employees. The IHRM director of a British Multi-National Food Processing Company, which is now planning to open immature sites in Australia, Russia and India need to evaluate effective factors for setting wage payment for their employees. Many companies get stuck in the job evaluation process because of the complexity nature of job evaluation process. Many grading and wage payment structures for varied employment aspects have evolved over time and this can be hard for IHRM director to justify why one job is graded or paid higher than the other job. It is rattling to employ unique methods for job evaluation, identify effective factors for setting wage payment of expatriate managers, engineers, managers engenders and manufacturing staffs. Therefore, before determining wage payment of employees, it is crucial to determine the organizational needs by carrying out job evaluation, job relevant skills, work experience for applicants and understand the economic conditions of the region in which the company will function. Literature Review Many multinational companies evaluate varied factors before reservation a decision of what to pay the new recruited employees. Thus, varied literatures h ave attempted to reveal the way many companies carry out labor evaluation process or employ varied factors when setting the wages for their employees. When setting the level of monetary compensation of employees, one need to take into consideration varied factors. Snell and Bohlander (2010, p. 121) reason out that one of the first factors that should be taken into considerations when setting wage is setting the wage high in order to motivate and attract good labor force. The wage should be equitable meaning that it should accurately reflect the value of the labor performance. Sparrow, Brewster and Harris 2004, p.49)