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Although much has been written about new compensation innovations as individual programs, there is less discussion of the impact these programs can have when implemented in a piecemeal fashion or even in tandem as part of a strategic compensation design. This article focuses on one company's successful attempt to use several compensation approaches to solve some fundamental organizational problems and, in the process, build an integrated compensation approach. This company was successful for two reasons: (1) it conducted a thoughtful analysis of its situation and goals to develop a compensation approach that was best suited to help meet those goals, and (2) the company used a holistic and strategic approach to compensation design to develop and implement compensation programs that support its ultimate objective of maximizing organizational efficiency and making the most of its human capital.

A "supermarket" program for providing the employee with an array of benefits from which he chooses those that suit his needs

In this article the authors discuss recent legislative and judicial developments in workmen's compensation law. They note that the Act will be completely reviewed in July 1979 but discuss the topics of payment of attorney's fees, coverage, changes in compensation benefits, offset provisions and changes in the rules of procedure.

This study explores and conceptualizes international reward and compensation policies and practices in 10 Chinese multinational enterprises (MNEs). It reveals that the case Chinese MNEs adopt dual approaches to international reward and compensation toward different nationalities and different managerial status. The approach to international reward and compensation for nonexecutive host-country nationals is host-based and for executive host-country nationals is contract-based. The approaches for expatriates are classified into three categories: the diplomat-based, the host-based plus home salary and the contract-based. This study indicates that international strategy, reliance on international markets and senior management's perception of the home reward and compensation system determine approaches to international reward and compensation. Other factors, including legal, economic and sociocultural and type or niche of industry influence the ways of implementing these approaches. Moreover, international human resource management policies and practices, including recruitment and selection, management development and performance appraisal, have a strong effect on international reward and compensation.

Organizations that forge ahead in cultivating exceptionally talented professionals with the desire to experience new roles in new places will shape the world's economic future. The best way to build a global workforce with the right knowl-edge and ability is to offer a good compensation program and career growth and opportunity. As the world's economy evolves into an evermore complex and interrelated system, global organi-zations are facing an increasingly complicated task in finding, motivating and retaining talent. This article examines expatriate compensation and the broader issues of global compensation planning for traditional expatriates, local nation-als and the evolving class of "global employees" who fall somewhere between the two.

In the global economy, transnational economic factors are affecting compensation schemes for both expatriates and local hires. Also affecting new thinking about multinational compensation issues is the issue of meshing corporate cultures with local cultures. Conventional thinking has emphasized that all multinationals-like all politics, in the words of former House speaker Tip O'Neill-are local. But the authors argue that the importance of national cultures is exaggerated when thinking about global strategy and compensation and reward systems. Business strategy and markets are more appropriate units of analysis, they say. Companies should adopt models that allow managers the opportunity to tailor the total compensation system to fit the context in which they compete within a framework of corporate principles.

In 2004, the Financial Accounting Standards Board (FASB) will, most likely, announce that companies should expense stock options. In this article, an assumption is made that FASB will make this announcement. Between now and then, however, companies have a golden opportunity to reexamine the future of, and alternatives to, their equity distribution instruments. Companies have the choice of altering their existing stock option plans, or they can implement new types of plans to best meet its corporate objectives. For example, a company may choose to modify their existing plans, or a company may elect to adopt new types of plans, such as stock appreciation rights, employee stock purchase plans, restricted stock or performance-based shares. This is an excellent time for companies to reconsider their compensation plans, and just as each business is unique, so are these compensation alternatives. This article provides a snapshot into the controversy and directs companies to consider the available alternatives.

The effect of compensation on employee performance, satisfaction and organizational commitment is hard to overstate. Designing an effective compensation structure may be a daunting task, in particular with respect of finding a balance between direct and indirect compensation. The paper discusses the challenges and offers best practices for incorporating non-monetary benefits in a compensation package.