Cost Benefit Analysis Essay

Any company thinking about expanding and relocating personnel to another country would first need to do a cost benefit analysis of the organization actually opening and having a physical presence and relocating personnel to another country. This step is done in the before any planning and money is spent. Then the company should look at the exchange of the currency from one country to another, the cost of living, salaries, paid time off and the cultural differences all comes into play when selecting to expanding to another country. Companies should not avoid expanding to save on cost and allowances if the profits and the benefits outweigh the expense. The first step in determining the salary to be paid on personnel living abroad is to …show more content…
Having an attractive compensation package is important as it ensures that personnel overseas receives fair and cost effective pay and benefits in a competitive market. Compensation should balance out on any other expenses that the personnel may be faced being in another country. A company should include more than the basic salaries and the basic allowances that are offered to a regular employee, an attractive compensations package will help motivate and encourage personnel to put extra effort in their work. A compensation package needs to be attractive enough to help employees to work outside their countries. An incentive compensation packages should include other allowance such as relocation and hardship pay depending on the geographical location of the personnel. Compensations such as extended vacations and leaves should also be added to help employees balance their personal …show more content…
Jenkins consulting firm should adopt this program to help the firm to expand and become more competitive globally. Benefits should go beyond the of costs relocation, and should involve cultural training of the new country where the personnel will be working. Personnel who have a better understanding of the culture and the way of life of the host country will enable him or her to adapt faster to his or her new surroundings. Companies may want to support in relocating the employee’s family, making sure that they can adjust to the new relocation. Companies need to pay for personnel’s a hardship pay or hazardous pay to compensated for the harsh working conditions the employee have been exposed