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Fish to Go’s Entry in the UK and Mexico Markets Report

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Updated: May 28th, 2021

Staffing Strategy

With the desire to enter into the UK and Mexico markets, the Fish to Go Company should consider choosing the host-country national staffing strategy because the dynamics existing in the external markets are not the same as the practices in the home country (Gesteland, 2012). For instance, labor practices in the US are dissimilar to staffing practices in the UK and Mexico. Adopting the host-country staffing strategy would be necessary to ensure that the company operates within the local labor laws, which are not similar to the US regulations. Besides, it will give the Fish to Go Company the much needed smooth through steady cultural transition to avoid cases of culture clashes (Obeidat, Masadeh, & Abdallah, 2014). Moreover, using the host-country staffing strategy would reduce the cost of hiring or compensation. For instance, it would be cheaper to hire a manager performing similar roles in Mexico than in the US or UK.

Compensation Plan for the UK and Mexico Markets

The expected cost of compensating managers in the UK and Mexico should not exceed the current annual $45,000 earned by the US managers, plus the two percent profit sharing. Reflectively, the cost of labor in Mexico and the UK are different. Actually, the compensation packages are also dissimilar due to variations in the cost of living, hardship, and other benefits (Shammot, 2014). The proposed compensation plans for the UK and Mexico markets (as captured in table 1, 2, 3, and 4) are summarized below.

Compensation Plan for the UK market

Table 1: Annual reward statement for manager in the UK. (Source: Self generated).

Compensation package costs
Current annual income (inclusive of the value of time-offs) $30,000.00
Bonus for 2018 $1000.00
Annual total earning $30,160.12
Annual employer funded insurance $8,000.00
Statutory benefits $2,000.00
Health savings account $1,200.00
Mileage allowance $800.00
Total employer paid benefits $12,000.00
Total annual compensation $42,000

Table 2: Summary of the benefits that are captured by the UK labor regulations. (Soource: Self generated).

Employee provided benefits Percentage (where applicable) Company cost
Medical $1,000.00
Dental $800.00
Short term disability 50% of weekly pay $200.00
Long term disability 50% of monthly salary $800.00
Basic life cover Double the earnings $1,200.00
Retirement $1,200.00
Medicare and social security $2,000.00
Unemployment $1,000.00
Worker compensation $1,500.00
Mileage allowance $800.00
Health savings account $1,500.00
Total benefits $12,000.00
Time-off Days Cost
Paid time-off 12 days $1,000.00
Holidays 6 days $400.00
Floating holiday 2 days $100.00
Total time-off $1,500.00

Compensation Plan for the Mexico market

Table 3: Annual reward statement for manager in the Mexico. (Soource: Self generated).

Compensation package costs
Current annual income (inclusive of the value of time-offs) $30,000.00
Bonus for 2018 $1000.00
Annual total earning $31,000.00
Annual employer funded insurance $5,000.00
Statutory benefits $3,000.00
Health savings account $1,200.00
Mileage allowance $800.00
Total employer paid benefits $9,000.00
Total annual compensation $40,000.00

Table 4: Summary of the benefits that are captured by the Meixco labor regulations. (Soource: Self generated).

Employee provided benefits Percentage (where applicable) Company cost
Medical $700.00
Dental $500.00
Short term disability 50% of weekly pay $300.00
Long term disability 50% of monthly salary $700.00
Basic life cover Double the earnings $1,000.00
Retirement $900.00
Medicare and social security $1,500.00
Unemployment $500.00
Worker compensation $1,000.00
Mileage allowance $600.00
Health savings account $1,000.00
Total benefits $9,000.00
Time-off Days Cost
Paid time-off 6 days $500.00
Holidays 4 days $500.00
Floating holiday 1 day $200.00
Total time-off $1,200.00

As captured in the compensation plan, the managers in the UK and Mexico markets will earn similar annual salary of $30,000. However, managers in the UK will have higher compensation benefits than their counterparts in Mexico. The rationale for this allocation is informed by the fact that cost of living is higher in the UK than in Mexico. From the summary of salary and other benefits, the Go to Fish Company will pay annual compensation of $42,000 and $40,000 for managers in the UK and Mexico, respectively. The benefits in each scenario conform to the UK and Mexico labor regulations. The cultures in the UK and Mexico markets likely to affect the compensation and rewards since the motivational parameter are dissimilar. For instance, overtime payment might be more in the UK due to strict laws on compensation for working past the contracted hours (Shammot, 2014). On the other hand, overtime compensation is not higher than that of the normal working hours in Mexico.

Outline for Training Plan

Delivery mode: The training program will be delivered via a power point presentation.

Duration of the training: The program is expected to last for two weeks.

Target audience: The managers from Mexico and the UK markets.

Training Content

  • Understand the philosophy and history of the Go to Fish Company.
  • Understand the expected growth rate of the company.
  • Understand the expectations of the company.
  • Understand personal motivation and meeting set targets of the company.
  • Understand professionalism and personal etiquette at the company.
  • Understand team work and its relevance on fulfilling goals of the company.
  • Underhand the hierarchy of leadership and responsibility at the company.

References

Gesteland, R. (2012). Cross-cultural business behavior: A guide for global management. Copenhagen, Denmark: Copenhagen Business School Press DK.

Obeidat, Y., Masadeh, R., & Abdallah, B. (2014). The relationships among human resource management practices, organizational commitment, and knowledge management processes: A structural equation modeling approach. International Journal of Business and Management, 9(3), 9-10.

Shammot, M. (2014). The role of human resources management practices represented by employee’s recruitment and training and motivating in realization competitive advantage. International Business Research, 7(4), 55-57.

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IvyPanda. (2021, May 28). Fish to Go’s Entry in the UK and Mexico Markets. Retrieved from https://ivypanda.com/essays/fish-to-gos-entry-in-the-uk-and-mexico-markets/

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"Fish to Go’s Entry in the UK and Mexico Markets." IvyPanda, 28 May 2021, ivypanda.com/essays/fish-to-gos-entry-in-the-uk-and-mexico-markets/.

1. IvyPanda. "Fish to Go’s Entry in the UK and Mexico Markets." May 28, 2021. https://ivypanda.com/essays/fish-to-gos-entry-in-the-uk-and-mexico-markets/.


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IvyPanda. "Fish to Go’s Entry in the UK and Mexico Markets." May 28, 2021. https://ivypanda.com/essays/fish-to-gos-entry-in-the-uk-and-mexico-markets/.

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IvyPanda. 2021. "Fish to Go’s Entry in the UK and Mexico Markets." May 28, 2021. https://ivypanda.com/essays/fish-to-gos-entry-in-the-uk-and-mexico-markets/.

References

IvyPanda. (2021) 'Fish to Go’s Entry in the UK and Mexico Markets'. 28 May.

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