getting best advisement unfamiliar labor market

Often in business it is more about asking the right questions than having the right answers. As any human resource director knows, having an established network of resources is vital for successfully analyzing policy issues and recommending positions to management. Nowhere is this more apparent than in global human resource management. As quickly as markets and economies change, so too will policy have to be adapted for those changes.

In this assignment, you will decide what kind of information is important to have and whom you would choose to advise you. Just like in the regulatory environment, the specialist holds the most current information, and unless you are a large conglomerate, you probably will not choose to have that expertise in-house because the cost does not make sense for most companies.

Currently, there are a number of excellent consultants specializing in human resource global strategy who provide well-recognized surveys. Many of the surveys are quite expensive but contain rich data. Far more economical will be the professional human resource organizations that will collect information for their membership. There are always the popular management books as well.

For this assignment, consider what combination of resources you believe would be ideal to help you make the most effective decisions if you were practicing international human resources, by considering the following questions:

• Who will be on your advisory board for getting the pulse of the local country’s policies and practices for compensation and benefits?
• Why is an advisory board important in assisting the operations of a multinational corporation?
• What kind of information would you want to have for developing a total compensation strategy that includes benefits and incentive plans?

Assume you are an HR representative for a multinational company known for being a leader in the industry. In this assignment prepare a one- to two-page paper that addresses the following required elements:

• Prepare a report that selects a team of advisors for your compensation and benefits policy team.
• Explain why you chose this combination and what information you specifically want from each member.
• Analyze how you expect your company to retain its position as the premiere employer wherever it may operate in the world.
• You may want to review the Web sites of some of the larger human resource consultants, as well as professional organizations, to determine which ones might be good for your needs.