Chapter 1
Strategic Global Human Resources
Course: Gphr Practice Test
Subject: Gphr
Chapter: Total Rewards
In this lesson, we’ll explore how to develop and implement effective total rewards strategies that align with both market requirements and organizational goals. As companies operate in diverse locations and environments, it’s crucial to design compensation and benefits packages that cater to local regulations and employee needs.
We’ll also dive into the philosophies behind expatriate compensation, examining how to structure packages for employees working in different countries. Additionally, we’ll look at supplemental pay components, such as hazard pay and per diems, that are essential for employees facing challenging work conditions.
Key Topics Covered:
- Total Reward Strategies & Market Requirements for Employees
- Key Compensation Philosophies for Expatriate Packages
- Components of Supplemental Pay for Local and Expatriate Employees
Topic 1: Total Reward Strategies & Market Requirements for Employees
Total rewards refer to all of the monetary and non-monetary benefits an employee receives in return for their contributions to the organization.