The Compensation Review
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| Author | : John H. Davis |
| Publisher | : John Wiley & Sons |
| Total Pages | : 414 |
| Release | : 2011-08-24 |
| Genre | : Mathematics |
| ISBN | : 1118002067 |
An insightful, hands-on focus on the statistical methods used by compensation and human resources professionals in their everyday work Across various industries, compensation professionals work to organize and analyze aspects of employment that deal with elements of pay, such as deciding base salary, bonus, and commission provided by an employer to its employees for work performed. Acknowledging the numerous quantitative analyses of data that are a part of this everyday work, Statistics for Compensation provides a comprehensive guide to the key statistical tools and techniques needed to perform those analyses and to help organizations make fully informed compensation decisions. This self-contained book is the first of its kind to explore the use of various quantitative methods—from basic notions about percents to multiple linear regression—that are used in the management, design, and implementation of powerful compensation strategies. Drawing upon his extensive experience as a consultant, practitioner, and teacher of both statistics and compensation, the author focuses on the usefulness of the techniques and their immediate application to everyday compensation work, thoroughly explaining major areas such as: Frequency distributions and histograms Measures of location and variability Model building Linear models Exponential curve models Maturity curve models Power models Market models and salary survey analysis Linear and exponential integrated market models Job pricing market models Throughout the book, rigorous definitions and step-by-step procedures clearly explain and demonstrate how to apply the presented statistical techniques. Each chapter concludes with a set of exercises, and various case studies showcase the topic's real-world relevance. The book also features an extensive glossary of key statistical terms and an appendix with technical details. Data for the examples and practice problems are available in the book and on a related FTP site. Statistics for Compensation is an excellent reference for compensation professionals, human resources professionals, and other practitioners responsible for any aspect of base pay, incentive pay, sales compensation, and executive compensation in their organizations. It can also serve as a supplement for compensation courses at the upper-undergraduate and graduate levels.
| Author | : |
| Publisher | : |
| Total Pages | : 892 |
| Release | : 1926 |
| Genre | : Employers' liability |
| ISBN | : |
| Author | : Thom Reilly |
| Publisher | : M.E. Sharpe |
| Total Pages | : 194 |
| Release | : 2012-05-04 |
| Genre | : Political Science |
| ISBN | : 0765630575 |
Designed as a comprehensive overview of public sector compensation, the book addresses strategies for change, with the author warning that failure of the profession to address this issue will ultimately lead to citizens taking matters into their own hands. The author's issues-oriented approach addresses his core message--that the escalation of public sector compensation is impacting the ability of government to meet its core responsibility and the failure of government to address this has serious consequences. Not just a critique, the book presents context, analysis, and suggestions for reform. Reilly outlines specific plans for reform, including more openness; education and engagement of the public; state-level reforms governing the awarding of increases for public sector compensation plans; eliminating outdated vestitures of public sector compensation such as longevity pay, payments for sick leave accumulated upon termination, and automatic cost-of-living adjustments; and adoption of pay-for-performance programs and one-time bonus awards for meritorious performance, among others. Two unique and valuable features of the book are the author's detailed model of public-versus-private sector compensation, constructed to gauge the cost of lifetime compensation, and his model of the Iron Triangle to illustrate how elected politicians, management and labor representatives engage in nontransparent discussions involving public pay and benefits.
| Author | : Barry Gerhart |
| Publisher | : SAGE |
| Total Pages | : 320 |
| Release | : 2003-05-07 |
| Genre | : Business & Economics |
| ISBN | : 0761921079 |
`Gerhart and Rynes provide a thorough, comprehensive review of the vast literatures relevant to compensation. Their insights regarding the integration of economic, psychological and management perspectives are particularly enlightening. This text provides an invaluable tool for those interested in advancing our understanding of compensation practices' - Alison Barber, Eli Broad College of Business, Michigan State UniversityCompensation provides a comprehensive, research-based review of both the determinants and effects of compensation. Combining theory and research from a variety of disciplines, authors Barry Gerhart and Sara Rynes examine the three major compensation decisions - pay level, pay structure and pay delivery systems.Revealing the impact of different compensation policies, this interdisciplinary volume examines: the relationship between performance-based pay and intrinsic motivation; implications of individual pay differentials for team or unit performance; the consequences of pay for performance policies; effect sizes and practical significance of compensation findings; and directions for future research.Compensation considers why organizations pay people the way they do and how various pay strategies influence the success of organizations. Critically evaluating areas where research is inconsistent with common beliefs, Gerhart and Rynes explore the motivational effects of compensation.Primarily intended for graduate students in human resource management, psychology, and organizational behaviour courses, this book is also an invaluable reference for compensation management consultants and organizational development specialists.
| Author | : David Weaver |
| Publisher | : Lioncrest Publishing |
| Total Pages | : 210 |
| Release | : 2020-10-10 |
| Genre | : Business & Economics |
| ISBN | : 9781544516691 |
Most organizations fail to pay their employees properly-not because they don't want to, but because they don't approach compensation with a plan. The compensation landscape is changing rapidly. If you don't pay your employees what they're worth, not only will your competitors leave you behind, but you'll also leave yourself open to legal, social, and political backlash. As an HR professional or manager, how do you navigate the confusing world of compensation? Pay Matters is your go-to guide for demystifying the art and science of compensation. Step-by-step, David Weaver explains how to perform a detailed market analysis that reveals exactly how much each position in your organization should be paid. You'll also learn how to develop a pay philosophy specifically tailored to your organization and strike the elusive balance between profit and labor costs. With precisely calibrated base salaries, rewards programs, and enticing incentives, you'll be able to keep your best employees. Don't leave salaries open to the caprices of your organization's senior leaders. Approach them confidently with a proven methodology. After all, pay matters.
| Author | : Mercer, LLC |
| Publisher | : John Wiley & Sons |
| Total Pages | : 288 |
| Release | : 2009-03-17 |
| Genre | : Business & Economics |
| ISBN | : 047047811X |
The numerous incentive approaches and combinations and their implications can be dizzying even to the compensation professional. Pay for Results provides a road map for developing and implementing executive incentives that drive business needs and strategy. It is filled with specific analytic tools, including tables, exhibits, forms, checklists. In addition, it uncovers myths in performance measurement strategy and design. Timely and thorough, this book expertly shows businesses how to drive their specific needs and strategy. Human resources and compensation officers will discover how to apply performance metrics that align with shareholder investment.
| Author | : WorldatWork |
| Publisher | : John Wiley & Sons |
| Total Pages | : 864 |
| Release | : 2015-03-05 |
| Genre | : Business & Economics |
| ISBN | : 1119104335 |
Praise for The WorldatWork Handbook of Compensation, Benefits & Total Rewards This is the definitive guide to compensation and benefits for modern HR professionals who must attract, motivate, and retain quality employees. Technical enough for specialists but broad in scope for generalists, this well-rounded resource belongs on the desk of every recruiter and HR executive. An indispensable tool for understanding and implementing the total rewards concept, the WorldatWork Handbook of Compensation, Benefits, and Total Rewards is the key to designing compensation practices that ensure organizational success. Coverage includes: Why the total rewards strategy works Developing the components of a total rewards program Common ways a total rewards program can go wrong Designing and implementing a total rewards program Communicating the total rewards vision Developing a compensation philosophy and package FLSA and other laws that affect compensation Determining and setting competitive salary levels And much more
| Author | : James F. Reda |
| Publisher | : John Wiley & Sons |
| Total Pages | : 752 |
| Release | : 2014-03-31 |
| Genre | : Business & Economics |
| ISBN | : 1118417186 |
New and updated information on the laws and regulationsaffecting executive compensation Now in a thoroughly updated Fourth Edition, The CompensationCommittee Handbook provides a comprehensive review of thecomplex issues challenging compensation committees that facerevised executive compensation disclosure regulations issued by theSEC, as well as GAAP and IFRS rulings and trends. This new andupdated edition addresses a full range of functional issues facingcompensation committees, including organizing, planning, and bestpractices tips. Looks at the latest regulations impacting executivecompensation, including new regulations issued by the SEC, as wellas GAAP and IFRS rulings and trends Covers the selection and training of compensation committeemembers Explores how to make compensation committees a performancedriver for a company Guides documentation requirements and timing issues The Compensation Committee Handbook, Fourth Edition willhelp all compensation committee members and interestedprofessionals succeed in melding highly complex technicalinformation and concepts with both corporate governance principlesand sound business judgment.
| Author | : Sara L. Rynes |
| Publisher | : Pfeiffer |
| Total Pages | : 0 |
| Release | : 2000-04-06 |
| Genre | : Business & Economics |
| ISBN | : 9780787952747 |
Join the latest debate on the issues surrounding employment compensation. In Compensation and Organizations, a number of leading I/O psychologists and researchers explore the tremendous impact that recent changes in market conditions have had on today's compensation practices and outcomes. They delve into the effects that compensation has on employee performance, satisfaction, and attraction and retention, and examine the roles of pay strategy, pay risk, and the changing employment contract on pay packages and pay outcomes. They also offer nine general principles for constructing effective incentive systems. It's a broad-ranging work that summarizes the most important trends and conclusions in this important field and highlights areas in need of further research.
| Author | : Luis R. Gomez-Mejia |
| Publisher | : Routledge |
| Total Pages | : 366 |
| Release | : 2014-12-18 |
| Genre | : Business & Economics |
| ISBN | : 1317473957 |
This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.
