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Takes a three-pronged approach to compensation by focusing on theory, research, and practice. The 14th edition continues to emphasize the importance of total compensation and its relevance for achieving sustainable competitive advantage. Updates reflect new compensation research that has been published since the 13th edition.
Introducing the Pay Model and Pay Strategy
The Pay Model
Strategy: The Totality of Decisions
Internal Alignment: Determining the Structure
Defining Internal Alignment
Job Analysis
Job-Based Structures and Job Evaluation
Person-Based Structures
External Competitiveness: Determining the Pay Level
Defining Competitiveness
Designing Pay Levels, Mix, and Pay
Employee Contributions: Determining Individual Pay
Pay-for-Performance: Theory and Evidence
Pay-for-Performance: Types of Plans
Performance Appraisals
Employee Benefits
The Benefit Determination Process
Benefit Options
Extending the System
Compensation of Special Groups: Executives and Others
Union Role in Wage and Salary Administration
International Pay Systems
Managing the System
Government and Legal Issues in Compensation
Management: Making It Work