Pay and Benefits Outside the United States\" Please respond to the following: Se

Question

Pay and Benefits Outside the United States" Please respond to the following: Select the minimum pay and retirement practices of Mexico. Next, determine the likely result that will occur if those practices were adopted by the United States. Provide support for your response. Predict one (1) critical issue that could pose a major challenge to compensation professionals in the next ten (10) years. Next, propose a solution to this challenge and how a resolution could be accomplished. Justify your response.

Explanation / Answer

rationale.In the People’s Republic of China (PRC) minimum wage is set by the region, not the governmentas a whole. This can lead to varying minimum wages, even for the same job. This would never work in the U.S., as it would be similar to let the States determine the minimum wage. If there was a State level discrepancy in pay for the same job, you can be sure there would be challenges in the Federal Courts over this type of inequality. Retirement plans have been removed from the employment scheme, setting up a basic pension system. This is somewhat similar to our social security system here in the U.S., and sounds like it would work here, based on the particulars.

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