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The New Pay: Linking Employee and Organizational Performance

Overview

When change is underway, pay can be a powerful communicator of values and directions. And in today's challenging business environment, the need to use pay strategically is more important than ever as organizations and their leaders look for ways to improve outcomes, performance, productivity, and teamwork. Linking rewards to business goals and competencies is essential to gain competitive advantage through people. Based on extensive research with Fortune 100 companies and on their own consulting work with ...
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Overview

When change is underway, pay can be a powerful communicator of values and directions. And in today's challenging business environment, the need to use pay strategically is more important than ever as organizations and their leaders look for ways to improve outcomes, performance, productivity, and teamwork. Linking rewards to business goals and competencies is essential to gain competitive advantage through people. Based on extensive research with Fortune 100 companies and on their own consulting work with companies in various industries worldwide, Jay R. Schuster and Patricia K. Zingheim offer a powerful strategy for making pay a positive force for organizational excellence. This pioneering work includes the first "best practices" study to show the impact of pay practices on organizational performance. With numerous sample pay strategies and examples of pay tools that can be adapted to a wide range of situations, the authors provide how-to guidance to executives, managers, and human resource and compensation specialists—anyone responsible for developing base pay, incentive, and benefit plans. Where traditional models of compensation and reward no longer serve the best interests of organizations and the employees who must make companies succeed, The New Pay provides the critical tools for creating a total compensation strategy and pay programs that add value and support organizational success.
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Editorial Reviews

Industry Week
Useful to any enterprise—large or small, successful or struggling.
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Product Details

  • ISBN-13: 9780787902735
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 1/28/1996
  • Edition number: 1
  • Pages: 384
  • Product dimensions: 6.29 (w) x 9.23 (h) x 1.02 (d)

Table of Contents

Foreword
Preface
Introduction
Pt. 1 Employees and Organizations in the 1990s
1 Socioeconomic Foundations of New Pay 3
2 Organizational Strategies and New Pay 15
Pt. 2 Moving to New Pay
3 Designing New Pay Strategies 29
4 Total Compensation Strategy Statements 41
5 From Strategy to Practice by Involvement 59
Pt. 3 New Base Pay
6 Principles of New Base Pay 83
7 Paying the Individual 91
8 Evaluating Jobs 115
9 Base Pay Adjustments 131
Pt. 4 New Variable Pay
10 Principles of New Variable Pay 153
11 Types of Variable Pay 165
12 Variable Pay Design Issues 193
Pt. 5 New Indirect Pay
13 Principles of New Indirect Pay 223
14 Health Care Benefits Under New Pay 237
15 Other Employee Benefits Under New Pay 249
16 Flexible Benefits 265
Pt. 6 New Pay in Major Companies
17 Survey of Pay Practices 275
Pt. 7 The Future of New Pay
18 Linking Employees and Organizations 303
Appendix: Guide to Total Compensation Strategy Development 317
Notes 325
Bibliography 333
Index 347
About The Authors 365
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