Article Abstract:
Lifetime employment and seniority wage schemes have assured Japanese companies with a steady and efficient supply of human resources during the years when the country was experiencing rapid economic growth. Retirement benefit plans were salary-related and thus also served to foster lifetime employment in the same company. However, Japanese companies can no longer continue such practices because of difficult economic conditions. Many have begun to replace salary-related benefit plans with career sum point plans, which use other factors aside from seniority or salary levels to compute employee benefits.
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Article Abstract:
A survey by Coopers and Lybrand on severance pay policies of 494 US firms disclosed that senior executives are given more generous severance pay and benefits than rank and file workers. Furthermore, 52% of respondent firms pay earned bonuses to terminated executives and 77% let executives exercise their stock options after contract termination. Most firms have special severance policies for senior executives, however, practices differ greatly. Other survey findings are reported, such as severance pay formulas and support services for terminated executives.
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Article Abstract:
The compensation packages offered by South African companies are analyzed. Results show that more than 80% of employers provide benefits such as cellular phones, medical aid and financial counseling under a flexible compensation package. Most employees also receive a company car or car allowances while salaries which start from a minimum of R1,534 per month in 1995 are expected to increase in 1996.
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