Pay and Benefits Outside the US & Challenges Facing Compensation Professionals
100
12 WEEKS UNPAID LEAVE FOR BIRTH, ADOPtION, FORSTER CARE, SERIOUS Medical Problem Employee and serious medical problem family
What is FMLA
100
are used by the IRS to determine the necessity of top-heavy provisions in employer-sponsored qualified retirement plans that cover most nonexecutive employees
What is Key employees?
100
Lease company does all HRM functions
What is Leased employees
100
Citizens work for U.S. company in own country
What is Host Country Nationals
100
high level of interconnections between economies
What is globalization
200
Provides prepaid medical services
Copayments represent nominal payments
Common copayment amounts
What is HMOs?
200
used by the IRS for nondiscrimination rules in employer-sponsored health insurance benefits
What is highly compensated executives
200
Test to see if employee or contractor
What is common law/ economic reality test
200
Citizens of one country work for a U.S. company in another country
What is 3rd country nationals
200
high level of interconnections between economies
What is malemployment
300
Up to 18 months for individuals and their spouses and dependents
May extend for up to 36 months for spouses and dependents facing a loss of employer-provided coverage because of an employee’s:
What is COBRA?
300
Allow board of directors to take back performance-based compensation when performance goals were not achieved
What is clawback provisions
300
Fill in for core employees
What is temp employees
300
More than one year
What is long term expatriates
300
Work in jobs overqualified for
What is underemployment
400
Temporary income for spells of unemployment that result through no fault of the employee
What is Unemployment insurance?
400
cover a broad range of benefits, from free lunches to the free use of corporate jets
What is perks
400
Establish working relationships with companies on their own
What is independent contractors
400
Neither based on home nor host country’s pay levels, but on pay norms in the company’s headquarters
What is headquarters based
400
The minimum wage rate in China has risen more than this percent and the Chinese government continues to raise the minimum wage across the country
What is 20%
500
Promote worker safety and health
Maintain family income streams
Assist families in crisis
Enable retirees to maintain subsistence Income levels
What is protection programs
500
Managers compete for promotions
What is tournament theory
500
Economic recessions
International competition
Shift from manufacturing to a service economy
What is reason for increase in contingent workforce
500
For tough work and living conditions
What is hardship allowance
500
slowdown in economic activity and reduced gross domestic product (GDP)