Why is it important for human resource and compensation professionals to learn about compensation practices in other parts of the world?

Asked on by Mizdee

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readerofbooks | College Teacher | (Level 2) Educator Emeritus

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This is a good question. There are many reasons why people in the industry need to learn about compensation practices and other human resources practices around the world. 

First, we live in global world, where boundary lines are less important. So, for instance, it is very possible for a company to have offices in six continents. For this reason, it is important not only to learn about these countries, but also to learn about what is fair in terms of compensation. To be a fair and honest company, research in this area is important. 

Second, another important reason to learn about practices around the world is that this research and interaction creates for greater knowledge. To learn from others and other nations only makes you better and a company better.

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