It wasn’t all that long ago that U.S. multinational companies were widely viewed as the place to go to make “big money.” While U.S. executives remain the world’s most highly paid, evolving talent markets and continuing globalization have begun to narrow the differences in executive rewards practices between many countries around the world. And with intensifying competition for top talent, many U.S. multinationals are finding that their traditional rewards practices no longer give them a certain leg up in attracting and retaining executives, especially in fast-changing emerging markets. Indeed, in many emerging markets, local companies are growing rapidly and adopting global pay levels, which allow them to trump what the U.S. multinationals can offer.
Competing for top cadre talent today requires an understanding of ongoing global trends in rewards, plus close attention to the remaining differences — some quite significant — in how key rewards programs are structured from country to country. Our article in the July 2013 issue of Workspan, reproduced here with the permission of WorldatWork, provides an overview of recent global trends and some key local/regional differences in executive rewards today.
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James Matthews is a director Towers Watson’s New York office who specializes in global executive compensation issues and David Seitz leads the executive compensation practice in Towers Watson’s Dallas office. Email firstname.lastname@example.org, email@example.com or firstname.lastname@example.org