Employee Compensation Package For Employees - 872 Words

Expatriate employees would include the C.E.O. The compensation packages will be done differently than what the local hires would be. The base salary will include a minimum of 5 years of experience and offer a salary of 120,000 Rubles. Salaries may vary depending on the actual number of years of experience. It will be maxed out at 350,000 Rubles. According to Coleman services article on expatriate compensation packages, â€Å"These expenses include, but are not limited to, relocation and living allowance, country risk payments, complete medical and travel insurance for all family members, corporate cars (often with personal drivers), total coverage of apartment costs etc. Add to these a foreigner status with all inherent visa proceedings, and you’ll get a very costly asset.†1 Compensation packages for the local hires will not require such high benefits, however, there salary would be a little higher due to not including all the benefits of living and relocation. According to pravada.ru the average Russian needs to make 20,000-30,000 a month to be able to live comfortably2. It is recommended that basing it off this average would be a good idea due to increasing economy and skilled labor, in which we need. The minimum wage of Moscow requires the pay of 15,000 Rubles a month. Contract of employment will include the working and rest time (annual leave in addition to holidays), compensation for working in hazardous conditions, mandatory social insurance, sick and personal days (familyShow MoreRelatedEmployee Compensation And Benefits Packages Essay1245 Words   |  5 PagesEmployee Compensation and Benefits Organizations create compensation and benefits packages in order to attract the best talent. In today’s global economy it is imperative that organizations offer compensation packages that are competitive in order to recruit the very best talent in the world. 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