Compensation Decision MakingThe ultimate goal of the text is to make compensation decision makers out of its readers. No book can provide all the answers nor can it provide a fail-safe formula. What is can provide are the knowledge and techniques that lead to answers. All compensation decisions are made under a set of decision-making constraints. This book analyzes those constraints. A thorough understanding of them will assist the reader, since a careful consideration and weighing of all the constraints should result in more rational and workable compensation decisions.... The decisions have an impact upon the company achieving high productivity or slowly slipping into oblivion. To aid in preparing for compensation decisions, these pages were written to provide readers with the skills to make wise decisions in a complex, ever-changing, and competitive environment. -Pref. |
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ability to pay Agency theory average bargaining behavior benefit plans chapter compensable factors compensation decision makers Compensation Strategy compensation system competitive constraints contract defined demand determine discrimination discussed distributive justice employee benefits employee's employment environment equity theory ERISA example Exhibit external equity factors of production feet of ditch firm FLSA goals grade hire hour human resource incentive plans income increase individual industry influence internal labor market issues job analysis job description job evaluation job family key jobs labor costs Labor Economics labor unions ment minimum wage motivate needs nonunion organization organization's organizational outcomes pay plans percent Performance Appraisal performance assessment principal-agent problem procedural justice product market reinforcement relative result Review rewards salary Scarpello skills specific standards supervisor survey task theory tion unit variable wage and benefit wage differentials wage level wage rates wage structure workers