Describe the options for compensation of expatriate workers.
What will be an ideal response?
The balance sheet approach is one of the most common methods. This is where the employee is paid their home salary, but allowances are provided to “balance” the different costs associated with the overseas assignment. Another option is split-pay, where part of the compensation is paid based on the home-country norm and part is paid in the assignment-country currency to minimize exchange rate risk. The next option is the local-plus approach, where the employee receives compensation based on the host country’s ordinary pay structures, and then receive allowances to allow them to more closely match their living standard in their home country. We can also use a straight negotiation approach, where the compensation package is agreed to upfront; a localization approach, where compensation is based on the host-country standards; or a lump-sum approach, where a set amount of money is given to the employee to use on unique expenses associated with an assignment to a particular country.
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