The Compensation Handbook: A State-of-the-Art Guide to Compensation Strategy and Design / Edition 5

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The Perennial Favorite of HR Professionals Seeking the Most Current, Insightful Reference in the Field

For over thirty-five years, human resources and management professionals have been turning to a single source for the most astute and up-to-date commentary about the state of the industry-The Compensation Handbook. Composed of one-hundred percent brand-new material from more than sixty authorities in the field, this fully updated edition provides direct insight into the most critical issues compensation and human resources professionals face today.

Among the many human-capital topics covered are new reward strategies for attracting and retaining highly qualified employees from America's fast-draining talent pool; addressing the mass retirement of baby boomers-the decade's most vexing HR problem; and responding to the varying needs and desires of a multicultural, multi-generational workforce ranging from the over-sixty traditionalists to the new “Millennials.” The Compensation Handbook illustrates how employee compensation addresses these and many other critical topics, including:

  • Unwrapping the riddle of employee pay
  • Creating a total reward strategy
  • Effectively using competency based pay
  • Utilizing the most effective approaches to broadbanding
  • Applying the best performance management practices
  • Demystifying CEO pay
  • Creating team-based incentives for strong outcomes
  • Rationalizing board compensation
  • Applying a solid program for addressing work-life issues
  • Designing compensation systems that support talent management strategies

Never before has such dramatic changes in the workforce occurred as rapidly as they are today. With economies stretching around the globe and the recent rise of foreign financial giants, among numerous other radical changes in business and industry, those in the field of human resources and compensation are faced with an entirely new catalog of concerns. This long-time industry staple contains all the methods, tools, and diagnostics you'll need to navigate the maze.

Packed with the most comprehensive and insightful information you'll find anywhere, The Compensation Handbook offers not only straightforward answers to specific problems, but also provides a firm foundation for solving issues unique to your company.

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Product Details

  • ISBN-13: 9780071496759
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 6/13/2008
  • Series: Compensation Handbook Series
  • Edition number: 5
  • Pages: 656
  • Product dimensions: 7.50 (w) x 9.30 (h) x 2.10 (d)

Meet the Author

Lance A. Berger is CEO of Lance A. Berger &

Associates, Ltd. and a management consultant specializing in compensation, talent management, and change management.

Dorothy R. Berger is Managing Director of Lance A. Berger & Associates, Ltd., as well as a talent management consultant.

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Table of Contents

Pt. 1 Introduction
1 The Role of Compensation in Corporate Transformation 3
2 Millennium Compensation Trends 17
3 The Evolution of Compensation Practices 27
Pt. 2 Base Compensation
4 Compensation: An Overview 41
5 Job Analysis and Job Documentation 55
6 Methods of Job Evaluation 79
7 Compensation Surveys 91
8 Retrieving, Manipulating, and Analyzing Compensation Data 109
9 Developing Competitive Compensation Programs 117
10 The Development of Salary Structures 129
11 Pay for Skills, Knowledge, and Competencies 143
12 Relating Competencies to Pay: A Desirable or a Dangerous Practice? 157
13 Budgeting, Auditing, and Controls Systems for Salary Administration 173
14 Computers and Compensation Administration 183
15 Using Information Technology for Salary Budgeting and Planning 189
Pt. 3 Variable Compensation
16 Variable Pay: An Overview 199
17 Variable Pay: New Perspectives 209
18 Improshare: Sharing Productivity Gains with Employees 217
19 Gain Sharing: Sharing Improved Performance 227
20 Nonmonetary Rewards: Cash Equivalents and Tangible Awards 241
21 Team-Based Pay 261
22 Optimizing Team-Based Incentives 275
23 Increasing Sales Force Effectiveness through Compensation 291
24 The Role of Competencies in Sales Force Success 313
Pt. 4 Executive Compensation
25 Executive Compensation Strategy 327
26 Designing and Implementing Total Executive Compensation Programs 339
27 Annual Incentive Plans for Management 349
28 Long-Term Incentives 357
29 Executive Compensation Systems: Drivers or Results from Strategic Choices? 373
30 Employment Agreements 391
31 The Changing Landscape of Board Remuneration 401
Pt. 5 Performance and Compensation
32 Performance Measures: An Overview 421
33 Performance Management 429
34 Measuring the Hard Stuff: Teams and Other Hard-to-Measure Work 443
35 Changing Measures for Changing Times 467
36 Performance-Based Rewards: What Are the Best Practices? 481
37 Measuring and Assessing Top Executive Performance 495
38 Merit Pay and Performance Appraisal 509
Pt. 6 Corporate Culture and Compensation
39 Culture and Compensation 531
40 Passing the Baton: Connecting Compensation, Behaviors, Culture, and Strategy to Win 541
41 Rewarding Scarce Talent 551
42 Gaining a Competitive Edge by Improving the Return on Human Capital 567
43 The Role of Work-Life Benefits in the Total Pay Strategy 587
Pt. 7 International Compensation
44 Establishing Global Compensation Strategies 603
45 Expatriate Compensation Practices 609
46 Global Local National Compensation Practices 621
Index 633
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