Compensation and Benefits.docx - Compensation and Benefits...

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Compensation and Benefits Page | 1 Compensation and Benefits Shanelle Washington BUS3040 Professor Shari Rone-Adams August 2020
Compensation and Benefits Page | 2 Introduction Compensation and benefits can be defined as tangible and intangible rewards given to an employee in exchange for their labor. While compensation refers to any guaranteed and performance-based pay, benefits add extra value in the form of monetary or nonmonetary perks [ CITATION Don18 \l 1033 ]. As the new HR manager for Java Corp, a domestic cold coffee and tea company, I need to fill an executive level expatriate position in our new London, England office. I am looking to fill this position using a candidate external to Java Corp., but they must be a United States citizen. This will be a two-year position and will have a comprehensive compensation package which will be detailed throughout this paper. Salary In deciding base salary for this expatriate, we need to take into consideration many aspects of moving internationally. We must ensure the associate does not lose ground financially due to the assignment, especially since the assignment lasts two years. Base salary will be paid in local currency as the pound is considered a hard form of currency. In addition to base salary, we will offer a foreign service premium allowance with the understanding that we do recognize the cultural, social and business environment adjustments the expat will face as well as the separation from relatives, friends and business associates that happens when taking on these assignments [ CITATION nd174 \l 1033 ]. We will ensure the expat pays no more or no less

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