Global Compensation Issues Essay Example | Topics and Well Written Essays - 500 words

Global Compensation Issues - Essay ExampleThere exists laws that regulate salaries and wages and human resources professionals must act inside the guidelines of such laws. This study will look at Chinas compensation structures and compensation issues.China is a communist state in easternmost of Asia continent. It has a population of approximately 1.39 billion people and fourth largest country in the world. Chinas terrain is rugged with hills and depressions which include the Himalayas Mountains and the Turfan Depression. It has to main and important rivers videlicet the Yellow River and Yangzi River. China experiences four weather seasons of summer autumn, spring and winter. During winter temperatures can drop to a level of -50 degree Celsius. Chinas financial year is from 1st January to 31st December and had a GDP of 10.355 trillion US dollars in 2014 with its main industries being manufacturing, mining and food processing.Chinas transport system includes railways, roads air and water system. This makes most towns in this Republic accessible. The existence of navigable rivers has led to development of inland river ports and a reliable water transport system. The main mode of communication is telephone with approximately 23.68 Chinese citizens connected to telephone lines.The communist government in China has had a sight of influence in the countrys labor market. Regulation of the labor market through legislation has caused redistribution of the readily available labor in China. In order to improve the levels of production, the government initiated programs targeted at moving labor from low production sectors to high production sectors of the economyThe large population provides huge offer of labor to Chinas industries. In the earlier years, there was excess supply of both skilled and non-skilled labor. From the economics of demand and supply, the result was low terms of labor for different players in different industries