HR Leaders Creating a Global Pay Structure

HR LEADERS CREATING A GLOBAL PAY STRUCTURE Monique C. ColbertStrayer University

18 August 2007

ABSTRACT

Globalization has created a severe impact on the environment of today's work force. The 21^st century is the beginning of an age where technology greets global diversity and together they send the work force potential into a new stratosphere. Gone, are the traditional ideas of businesses. Thanks to the ever-changing effects of the economy, technology, politics, and environment the future of the work force is in for a new look. Understanding a global economy is now a requirement to adapt to the transforming forces taking place in the work force of the new millennium.

A global economy is catapulting business transactions in light speed time. Deals that used to take months to close are now closing in record speed. The global economy includes a new terminology, new sources, and new forecasting tools to signify revolutionary trends and techniques. Human resources leader must acquire the ability to execute new processes to include new means of addressing pay scale issues. Additionally, visionary leaders of the 21^st century should be able to use an x-ray type of vision and be able to predict what lies ahead in the future. One example is the remarkable Jack Welch, former CEO of General Electric, He once stated, "The aim of a great leader is to combine the sensitivity, the leanness, the simplicity, and the agility of a small company with the strength, resources, and reach of a big company (Pierce)."

Global view of the pay structure!

Credit: Monique Colbert

Copyright: Monique Colbert