People, Performance, & Pay: Dynamic Compensation for Changing Organizations

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Simon and Schuster, Jan 15, 2002 - Business & Economics - 288 pages
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People, Performance, and Pay identifies today's four most common organizational work cultures - functional, process, time-based, and network - and explains how to align innovative pay policies with each. With examples from LEGO, Hallmark, Holiday Inn, and other leading organizations, the authors explain how to assess an organization's current culture and determine what its future culture should be. They then demonstrate pay's role in such change initiatives, and how compensation must be integrated with other human resource processes, such as selection, training, and performance management. They also discuss the full range of pay strategies available today and how they can be best used to move the organization forward; for example, they recommend decreasing an organization's emphasis on base pay as it shifts from a functional culture to a process, time-based, or network culture. They also offer guidance on establishing team rewards, especially important in process and team-based cultures, and make a compelling case for putting more pay at risk through variable pay strategies. Here also is strategic advice on competency-based pay, performance-based rewards such as gain-sharing, executive pay, and benefits programs. As responsibility for compensation strategies and compensation decisions shifts away from the realm of the Human Resource Department, line managers and senior executives will find People, Performance, and Pay an invaluable reference for effectively using salary, incentives, and benefits to motivate and reward employees, improve quality, and increase productivity.
 

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Contents

The Compensation Lag
1
Work Cultures
23
The Role of Pay in Organizational Change
57
Dynamic Compensation Strategies and Tactics
81
Aligning Cultures and Compensation
123
Benefits in the Changing Organization
145
Rewarding Leadership in the Changing Organization
167
Reconsidering Executive Pay
187
Pay and the Changing Role of Human Resources
205
Communicating Pay
227
Nine Principles of Dynamic Pay
247
Paying for People
251
Notes
255
Index
261
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