Total Reward in a Globalized World
As globalization marches on, the landscape for recruiting and rewarding top critical talent is changing rapidly. Many leading global companies are finding that conventional approaches to the design and evaluation of competitive rewards for Top Executives are proving inadequate. This new environment is the result of several game-changing trends:
- Companies are competing globally for talent.
- As companies expand their global reach and acquire new companies, jobs at a senior level often comprise of multiple functions and have responsibilities beyond individual countries.
- Top talent is more likely to be mobile.
- Total reward levels for executives still vary widely but are converging - pay in China and India rivals that in Hong Kong, Canada, and other mature markets.
- Companies are developing new types of pay packages that can’t be compared using conventional methods, such as global net salary structures, host salary with home country benefits, and/or global equity plans.
The Challenges in Setting and Evaluating the Competitiveness of Total Reward
Peter Newhouse, SVP, Global Head of Reward, Unilever, Greg Smith - VP Global Compensation Policy, PepsiCo, and Constantin Romanov - Director Executive Compensation, Philip Morris International, discuss the challenges they face in setting and evaluating the competitiveness of rewards and where conventional benchmarking misses the mark.
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