Benefit Packages In A Global Business Environment

Benefit Packages in a Global Business Environment

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Benefit Packages in a Global Business Environment

Today’s globally competitive business environment has caused many U.S. businesses to reduce the value of their employee benefit packages. Examine how an organization can maintain its costly benefit structure while remaining competitive against countries whose companies do not offer such benefits.

The text from the course shows the weaknesses of globalization which states that “the disadvantages of a global economy deal with inequity, the more affluent members of society are typically better positioned to take advantage of opportunities presented via globalization”. This is the concern and problem because this may enhance the development of imbalanc3e in wages and sharp differences in the life ways and can develop openings crosswise on the financial classes. An example of this is the outsourcing, where the course text states and defines this as “moving labor from one country to another where the cost of labor is cheaper, as an economic benefit to companies” while it can create a problem for the employees or labor (Weathington, & Weathington, 2016).

Despite, based on the statement of De Soto, two-third of the population of the entire world has been locked out even out of the concept of globalization (De Soto, 2015). While they live in very weak condition. In order to contradict it as an inverse ad negative results for both of the sides on the range (the local businesses and companies whose labor and employees survive because of outsourcing and because of the huge number of employees which are excluded from the globalization) (Weathington, & Weathington, 2016). Here, one important and crucial thing that can be done by the national business or company for their employees in their host region or country is to ensure the provision of enough and decent benefits package and compensation.

The text of the course enters into the importance of it and states that “a business or organization can keep its costly benefits structure maintained while remaining competitive against the other countries whose organizations and businesses do not suffer such benefits through the creation of a though-out and well-defined business and organizational strategies that include practices regarding benefits and compensations, as well requires to be on the stage where they can maximize positive results and minimize the inversely affecting one or simply negative ones” (De Soto, 2015).

References

Globalization at the Crossroads - Full Video. (2019). YouTube. Retrieved 9 October 2019, from https://www.youtube.com/watch?v=Gnh5MIiG4gQ

Weathington, B. L. & Weathington, J. G. (2016). Compensation and Benefits: Aligning Awards with Strategy. Bridgepoint Education, Inc.