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Word Count: 850
1 Trends in pay and benefits in Europe contrasting where possible with the USA Comparing pay and benefits between Europe and the USA is extremely complicated because you are referring to a number of different countries which constitute one area Therefore Europe has too many different cultures traditions and systems that diversify However the USA works in one particular way and can dominate the entire world if it wants too To make the Coursework simpler I categorised the answer in sections relating to the question Companies in Europe tend to base there rewards in levels of executive pay There is a greater emphasis in merit pay and can be rewarded even more with performance measures Companies tend to use Pay and Benefits as a policy in the organisation rather than a regional must Merit Pay Performance related pay used widely in Europe its the base salary related to the performance of the employee Pay for Performance This system is being used more and more basically the organisation pays your contribution and not your level in the company Fringe Benefits In European countries things like insurance and company cars are very important therefore these reward packages can be the reason why you may want to work for them Individual Bonuses Comes depending on the individuals performance This reward package is paid depending on what you achieved and it comes in two forms Team Bonuses Like the individual bonus but relating to teams and its being used more and more throughout the whole company rather than executives only Organisation-wide schemes These reward employees once certain organisations have known to pay out more often Eg Profit increases and Sales turnover Usually these payments come annually or more often Share Option Schemes Employees will profit from the organisations performance Not extremely effective as an incentive but still popular with the company employeesPay and Benefits in Europe compared to Americans rivals Many European organisations are adapting the American view
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