Final answer:
The three expatriates compensation approaches are: balance sheet approach, localization approach, and international/global compensation approach.
Step-by-step explanation:
The three expatriates compensation approaches are: 1) Balance sheet approach, which aims to keep the expatriate's purchasing power the same as in their home country. For example, if an expatriate is moved from a high-cost country to a low-cost country, they may receive a higher salary or additional benefits to compensate for the difference in cost of living. 2) Localization approach, where the expatriate's salary and benefits are the same as those offered to local employees in the host country. For instance, if a company operates in different countries, they may adopt a compensation approach that aligns the expatriate's package with the local market. 3) International or global compensation approach, which standardizes the expatriate's compensation across all countries. This approach is often used when a company has a global pay structure and wants to maintain consistency in how it compensates its expatriates across different locations.