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BUS_FP3040_Renfro_Terri_Assessment 4Compensation and BenefitsTerri RenfroID 2132143BUS-FP3040 Fundamentals of Human Resource ManagementCapella University
BUS_FP3040_Renfro_Terri_Assessment 4Compensation and Benefits Package I.Base Pay/Salary/BonusesBase PayBase Pay is the initial salary paid to an employee, that does not include any other incentives, such as bonus, benefits, etc. Fundamentals of Human Resource Management Chapter12 [ CITATION Noe \l 1033 ]. The pay structure is based on the value of each job as determined by Java Corp and incentives and bonus are included based on employee performance and the growth of Java Corp. in comparison to others in the same industry. The pay determined for the New executive-level position from the employee selected in the U.S. (Parent Country) , who will be re-locating for the next two years and opening a new office in London , England ( host country) will include the following pay and incentives as an expatriate which is defined as an employee assigned to work in another country Fundamentals of Human Resource Management Chapter 16 [ CITATION Noe \l 1033 ]. and is based on the benchmarking of what other’s in the industry are currently paying for this position in other countries. The base pay will be a slightly higher than average yearly salary divided into bi-weekly payments and paid in Euro’s due to the nature of the job, New location in England, and the many challenges the position will entail in comparison to the US executive in the same position. The Key factors and decisions made in regard to pay for the new U.S. Citizen to be hired for the executive-level position who will be an expatriate helping to set up a new office location in London ,England for the Java Corp are based on the following considerations as described in the article Factors That Contribute to Base Pay[ CITATION She13 \l 1033 ]
BUS_FP3040_Renfro_Terri_Assessment 4Positioning – Java Corp. prefers to be a leader in competitive wages when compared with competitors in order to attract the best -talentCompensation Model- Java Corp. offers pay incentives that are tied to organizational goals, they are in addition to base paySkill Level-Java Corp. will determine the starting base pay of the executive level position based on the education, and overall work experience and the candidate’s level of enthusiasm for taking on the challenging role. CompensationAccording to the Article Expatriate Compensation [ CITATION Sim06 \l 1033 ] “Compensation is among the most important factors a prospective expatriate considers when accepting an overseas assignment.” In order to attract and retain the best candidate for this executive level Java Corp expatriate position these consideration for additional pay are offered inconjunction with the base pay and are considered part of the expatriate compensation package and is designed to ensure that the expatriate does not experience an overt gain or loss when all elements of the compensation package are combined. These factors used in determining the

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