Saved in:
| Title: | Compensation |
|---|---|
| From: |
George T. Milkovich ; Jerry M. Newman
|
| Person: |
Milkovich, George T.
Verfasser aut Newman, Jerry M. |
| Main Authors: | , |
| Format: | Book |
| Language: | English |
| Published: |
Homewood, Ill.
Irwin
1990
|
| Edition: | 3. ed. |
| Subjects: | |
| Online Access: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006661722&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Item Description: | Literaturangaben |
| Physical Description: | XXII, 627 S. graph. Darst. |
| ISBN: | 0256076715 |
Staff View
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| 245 | 1 | 0 | |a Compensation |c George T. Milkovich ; Jerry M. Newman |
| 250 | |a 3. ed. | ||
| 264 | 1 | |a Homewood, Ill. |b Irwin |c 1990 | |
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Record in the Search Index
| _version_ | 1819272086449815552 |
|---|---|
| adam_text | Contents
Chapter 1 Strategic Perspective and the Pay Model 1
Compensation in Contemporary Society 2
Forms of Pay 3
Expected Costs and Stream of Earnings 7
A Pay Model 7
Compensation Objectives 7
The Four Basic Policy Decisions 10
Balancing Consistency, Competitiveness, Contributions, and
Administration 12
Pay Techniques 12
Strategic Perspectives 13
The Pay System and the Organization s Strategies 13
Reinforce Business Strategies 15
The Pay System and Environmental and Regulatory Pressures 16
The Pay System and the Organization s Culture and Values 17
The Pay System and Employee Needs 18
The Pay System and Unions 19
Book Plan 22
Summary 23
Compensation Application: Paying Graduate Students 25
Part A. Internal Consistency: Determining the Structure 28
Chapter 2 Internal Consistency and the Structure 30
Internal Consistency and the Pay Model 31 :
Uents
Pay Structures and the Pay Model 32
Egalitarian vs. Hierarchical Structures 36
Distinction between Employee Contributions and Internal Consistency
Policy 37
Factors Influencing Internal Pay Structures 37
Societal Factors 38
Economic Factors 38
Organizational Factors 40
Employee Acceptance: A Key Test 42
Distributive Justice 42
Procedural Justice 43
Managing Impressions— Looking vs. Being Fair 44
Consequences of Internal Pay Structures 44
Pay Structures and Work Behaviors 45
Pay Structures and Pay Satisfaction 47
Summary 48
Compensation Application: Parcel Plus 49
Chapter 3 Job Analysis 50
Why Perform Job Analysis? 52
Internal Consistency 52
Compensation 52
Additional Applications of Job Analysis Data 53
What Data to Collect? 55
Functional Job Analysis 55
Task Data 57
Behavioral Data 58
Abilities Data 61
Level of Analysis 63
Generic Jobs 65
How Can the Data Be Collected? 65
Conventional Methods 66
Quantitative Methods 67
Predeveloped Quantitative Inventories 69
Tailoring a Plan 70
Computerized Analysis 71
Contents xi
Who Is Involved in Job Analysis? 73
Who Collects the Data? 73
Who Provides the Data? 73
Is Job Analysis Useful? 74
Reliability 74
Validity 76
Acceptability 76
Practicality 77
Job Descriptions 78
Managerial Jobs 79
Writing the Job Description 80
Alternative Criteria for Structures 82
Managerial and Professional Work 82
Knowledge Based Pay Approaches 83
Advantages of Knowledge Based Systems 85
Disadvantages of Knowledge Based Systems 86
Summary 87
Appendix 3 A: Conventional Job Analysis Questionnaire 89
Appendix 3 B: Skill Based Pay Progression Plan for Shop
Technician 93
Compensation Application: Job Analysis 96
Chapter 4 Job Evaluation: Perspectives and Design 97
Job Evaluation and the Pay Model 98
Differing Perspectives 98
Classification and Hierarchies 99
Content and Value 99
Linking Content with the External Labor Market 101
Measurement and Rationalization 102
Major Decisions 103
Establish the Purpose 104
Single vs. Multiple plans 104
Choose among Job Evaluation Methods 106
Ranking 106
Classification 107
How Many Classes? 110
The Federal Government s General Schedule 110
Inherent Flexibility 113
Factor Comparison 114
Point Method 120
Designing the Point Plan 121
Conduct Job Analysis 121
Choosing Compensable Factors 121
Approaches to Choosing Factors 124
Establish Factor Scales 126
Establish Factor Weights 128
Statistical Approach 128
Single Factor Systems 130
Market Pricing 131
Summary 132
Compensation Application: Sun State 134
hapter 5 Job Evaluation: Administration 145
The Parties Involved in Job Evaluation 146
Compensation/Job Evaluation Committees 146
Employee/Manager Participation 147
Administering the Plan 149
Appeals/Review Procedures 149
Training 149
Approve and Communicate Results 150
Final Result: Structure 150
Evaluate Job Evaluation s Usefulness 151
Reliability: Consistency of Results 152
Validity: Which Method Does the Job? 153
Costs 156
Gender Effects in Job Evaluation 157
A Look at Job Evaluation Practices 160
Summary 161
Compensation Application: Hit Rates at Sun State 162
Compensation Application: Discriminatory Job Factors 163
2 External Competitiveness: Determining the Pay
Level 166
Chapter 6 External Competitiveness and the Pay Level 168
External Competitiveness and the Pay Model 169
Factors Influencing External Competitiveness and Pay Level 173
Labor Markets 174
How Markets Work 174
Labor Demand and the Marginal Revenue Product Model 175
Labor Supply 178
Relevant Markets and Multiple Pay Levels 183
Product Markets and Ability to Pay 184
Organization and Work Force Factors 186
Ability to Pay and Affordability 187
Behavioral Decision Models: The Process 189
Consequences of Pay Level Decisions 189
Summary 191
Compensation Application: Unimerge Corporation 192
Chapter 7 Designing the Pay Level and Structure 193
Major Decisions 194
Determine Competitive Pay Policy: Conventional and New
Directions 195
New Policy Directions: Variable Pay—Employer of Choice 198
Why Conduct a Survey? 199
Pay Level 199
Pay Structure 200
Pay Related Personnel Projects 200
Estimate Competitors Unit Labor Costs 200
Good Corporate Citizen 201
Design and Conduct Surveys 201
What Is the Relevant Market? 201
EEO Considerations 203
How Many Employers? 204
Who to Involve? 204
Make or Buy? 205
Which Jobs to Include? 207
What Information to Collect? 210
How to Collect the Data? 214
Interpret and Apply Survey Results 216
Check the Accuracy and Usefulness of the Data 216
Central Tendency 219
Dispersion 220
Combine Job Evaluation and Market Surveys 221
Construct Market Pay Lines 222
Update the Survey Data 223
Set the Employers Pay Level 224
Compare with Competition 226
Design Pay Ranges 227
Why Bother with Ranges? 228
Constructing Ranges 228
Geographic Differentials—Locality Pay 232
Balancing Internal and External Pressures: Adjusting the Pay
Structure 233
Reconciling Differences 233
Compression 233
Summary 234
Appendix: Regression Analysis 236
Compensation Application: Comparing Faculty Salaries 238
Employee Contributions: Determining
f Individual Pay 242
ipter 8 Employee Contributions: Pay and Performance 244
The Role of Compensation in Controlling Costs 246
Compensation and the Structure of Organizations 247
Compensation and an Organization s Value System 248
Compensation and Attracting/Retaining Good Employees 249
The Role of Compensation in Motivating Employees to Perform 249
Motivation * Pay *¦ Performance Relationships 251
Pay for Performance: The Positive Evidence 259
Is Money Important to Individuals? 259
Should Pay Increases Be Based on Performance? 260
Is Pay Based on Performance? 263
Pay for Performance: The Negative Evidence 263
Measuring and Paying for Performance: Design Issues 265
Establishing Performance Standards and Reward Allocation
Norms 267
Collecting Performance Data 268
The Performance Appraisal Interview 269
How to Allocate: When and How Much? 269
Appeals Mechanisms 271
Communications 271
Summary 272
Compensation Application: Quayle Pharmaceutical 274
Compensation Application: Tinker Food Markets 276
Chapter 9 Subjective Performance Evaluation and Merit Pay 277
Performance Evaluation Formats 279
Ranking Procedures 280
Adjective Checklists 280
Standard Rating Scales 281
Behaviorally Anchored Rating Scales 282
Management by Objectives (MBO) 283
Essays 285
Evaluating Performance Appraisal Formats 285
Employee Development Criteria 285
Administrative Criteria 285
Personnel Research 285
Economic Criteria 286
Validity 286
How Raters Process Information 288
Models of the Appraisal Process 288
Errors in the Rating Process 288
Improving Evaluations 291
Format Selection 291
Training Raters 293
Eliminating Errors in the Actual Appraisal 294
itents
Equal Employment Opportunity (EEO) and Performance
Evaluation 296
Tying Pay to Subjectively Appraised Performance 298
Designing Merit Guidelines 300
Summary 300
Appendix: Examples of Appraisal Forms, 3M, Xerox 302
Compensation Application: Great Lakes Ornamental Supplies 313
Compensation Application: Keysoft Enterprises Appraisal
Interview 315
Compensation Application: Evaluating Keysoft s Performance Appraisal
System 318
Compensation Application: Developing a Merit Pay Guide for Keysoft
Enterprises 322
Chapter 10 Alternatives to Traditional Reward Systems 323
What Are Alternative Reward Systems and Why Are They Increasingly
Popular? 325
Alternative Reward Systems 326
All Salaries Workforce 326
Pay for Knowledge System 326
Pay Plans Based on Objective Measures of Performance 328
Issues in Adoption and Development of Performance Based Pay
Plans 330
Adoption Issues 330
Development Issues 334
Incentive (Performance Based) Pay Plans 338
Individual Incentive Plans 338
Group Incentive Plans (Gain Sharing Plans) 343
Cost Savings Plans 346
Implementation of the ScanlonlRucker Plans 347
Similarities and Contrasts between Scanlon and Rucker Plans 348
Improshare 348
Profit Sharing Plans 348
Effectiveness of Gain Sharing Plans 351
Appendix: Example of an Integrated Incentive Plan (Selected
Sections) 353
Compensation Application: Assessing the Environment for Developing an
Incentive Plan 357
Contents xvii
Compensation Application: The Ratebusters 358
Compensation Application: Minnesota Electric 360
Part ^f Employee Benefits 362
Chapter 11 The Benefits Determination Process 364
Why the Growth in Employee Benefits? 367
Wage and Price Controls 367
Unions 367
Employer Impetus 367
Cost Effectiveness of Benefits 368
Government Impetus 369
The Value of Employee Benefits 369
Key Issues in Benefits Planning, Designing, and Administration 372
Benefits Planning and Design Issues 372
Benefits Administration Issues 372
Components of a Benefits Plan 376
Employer Preferences 377
Employee Preferences 379
The Negotiation Process 385
Administering the Benefits Program 386
Employee Benefits Communication 386
Relationship with Outside Organizations 388
Claims Processing 388
Cost Analysis and Containment 389
Monitoring the Benefits Environment 389
Summary 390
Chapter 12 Benefits Options 391
Legally Required Benefits 395
Workers Compensation 395
Social Security 398
Unemployment Insurance 401
Equal Employment Opportunity and Benefits 403
Civil Rights Act 404
Age Discrimination in Employment Act 404
Retirement and Savings Plan Payments 405
Defined Benefit Plans 405
Defined Contributions Plans 407
ER1SA 408
Life Insurance 409
Medical and Medically Related Payments 410
General Health Care 410
Health Care: Cost Control Strategies 411
Short and Long Term Disability 412
Dental Insurance 413
Vision Care 414
Paid Time Off during Work Hours 414
Payment for Time Not Worked 414
Miscellaneous Benefits 415
Child Care 415
Legal Insurance 415
Summary 415
Appendix: Pfizer Benefits Program 417
Compensation Application: Mondaille Hydraulics 421
Part ^ Government s Role and Compliance 424
Chapter 13 The Government s Role in Compensation 426
Government Influences on Pay 427
Government and the Pay Model 428
Regulations as Constraints 429
Regulations as Objectives 429
Minimum Wages and Compensable Time 430
Fair Labor Standards Act of 1938 (FLSA) 430
Portal to Portal Act of 1947 435
Prevailing Wage Laws 436
Equal Rights Legislation 437
Age Discrimination in Employment Act of 1967 437
Pregnancy Discrimination Act of 1978 438
Equal Benefit Payouts versus Equal Benefit Costs 439
Wage and Price Controls 440
Regulation of Benefits 441
Summary 442
Compensation Application: Amendments to Minimum Wage
Legislation 443
Chapter 14 Pay Discrimination 444
Pay Discrimination: What Is It? 445
Access Discrimination 445
Valuation Discrimination 446
The Equal Pay Act 447
Definitions of Equal 447
Definitions of the Four Factors 450
Factors Other than Sex 451
Reverse Discrimination 452
Title VII of the Civil Rights Act 453
Defining Discrimination 454
Pay Discrimination and Dissimilar Jobs 455
Proof of Discrimination: Pattern of Personnel Practices 456
Proof of Discrimination: Use of Market Data 457
Proof of Discrimination: Jobs of Comparable Worth 459
Economic Equality as a Social Issue 461
The Earnings Gap 461
Differences in Occupational Attainment 464
Differences in Personal Work Related Characteristics 468
Differences in Industries and Firms 470
Differences in Union Membership 471
Research on the Earnings GAP: A Mixed Bag 471
Unexplained Residual Approach 471
Inferring from Aggregated Data 472
Problems with Proxies 473
Wages for Women s Work 473
Differing Public Policy Options 475
Comparable Worth 476
Legislative Developments 476
The Mechanics of Comparable Worth 478
Union Development 483
International Developments 484
Costs 484
Alternatives 486
Summary 487
Compensation Application: Wayzata Police Officers 489
Part O Managing the System 492
Chapter 15 Budgets and Administration 494
Administration and the Pay Model 495
Managing Labor Costs 496
Controlling Employment: Head Count and Hours 497
Controlling Average Cash Compensation 499
Control Salary Level: Top Down 499
Current Year s Rise 499
Ability to Pay 499
Competitive Market Adjustments 500
Turnover Effects 500
Cost of Living 500
Merit Increase Guidelines 503
Control Salary Level: Bottom Up 504
Variable Pay as a Cost Control 507
Inherent Controls 507
Range Maximums and Minimums 507
Compa Ratios 508
Analyzing Costs 508
Use of Computers 509
Communication and Appeals 509
Communication or Marketing? 509
Communication and Pay Satisfaction 512
Appeals 512
Structuring the Compensation Function 513
Auditing and Evaluating the System 514
Unequal Treatment 514
Unequal Impact 515
Overall Evaluation 516
Summary 517
Appendix: Merit Grids 518
Compensation Application: EEO at Sun State 520
Chapter 16 Compensation of Special Groups 522
Compensation Strategy for Special Groups 524
Supervisors 525
Corporate Directors 526
Middle and Top Management 527
Conceptual/Emipirical Perspectives on Executive Pay 527
Components of an Executive Compensation Package 530
Long Term Incentive and Capital Appreciation Plans 532
Nonsupervisory Professional Employees 534
Sales Force and Sales Executives 537
Factors Explaining Pay Differences among Salespersons 537
Factors in Designing a Sales Compensation Plan 539
Designing a Sales Compensation Plan—the Options 541
Employees in U.S. Foreign Subsidaries 544
Expatriate Compensation 545
Local and Third Country Nationals 547
Summary 548
Compensation Application: Remtol Corporation: The Reluctant
Foreman 550
Compensation Application: Remtol Corporation: Compensating
Engineers 552
Compensation Application: Remtol Corporation: Costing Out a
Compensation Package for Expatriates 554
Chapter 17 Union Role in Wage and Salary Administration 555
Factors Affective Wages in Unionized Firms 557
Productivity 557
Cost of Living 558
Ability to Pay and Wage Comparability within Industries 559
The Impact of Unions in Wage Determination 561
Union Impact on Wage and Benefit Levels 561
The Structure of Wage Packages and the Impact of Two Tier
Pay 563
Union Impact: The Spillover Effect 565
Role of Unions in Wage and Salary Administration 565
Contractual Wage and Salary Issues 566
Unions and Alternative Reward Systems 570
Lump Sum Awards 570
Employee Stock Ownership Plans 571
Pay for Knowledge Plans 571
Gain Sharing Plans 571
Profit Sharing Plans 572
Summary 572
Appendix A: The Hay Guide Chart—Profile Method of
Position Evaluation 574
Appendix B: A Skill Based Job Evaluation Plan for
Manufacturing Jobs: Factor Definitions and Points 580
Glossary 586
Index 609
|
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| ctrlnum | (OCoLC)20133394 (DE-599)BVBBV010044195 |
| dewey-full | 658.3/2 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.3/2 |
| dewey-search | 658.3/2 |
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| discipline | Wirtschaftswissenschaften |
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| id | DE-604.BV010044195 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T09:46:52Z |
| institution | BVB |
| isbn | 0256076715 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-006661722 |
| oclc_num | 20133394 |
| open_access_boolean | |
| owner | DE-858 |
| owner_facet | DE-858 |
| physical | XXII, 627 S. graph. Darst. |
| publishDate | 1990 |
| publishDateSearch | 1990 |
| publishDateSort | 1990 |
| publisher | Irwin |
| record_format | marc |
| spellingShingle | Milkovich, George T. Newman, Jerry M. Compensation Loondifferentiatie gtt Loonstelsels gtt Personeelsmanagement gtt Salarissen gtt Compensation management Unternehmen (DE-588)4061963-1 gnd Lohn (DE-588)4036229-2 gnd Lohnpolitik (DE-588)4036241-3 gnd |
| subject_GND | (DE-588)4061963-1 (DE-588)4036229-2 (DE-588)4036241-3 |
| title | Compensation |
| title_auth | Compensation |
| title_exact_search | Compensation |
| title_full | Compensation George T. Milkovich ; Jerry M. Newman |
| title_fullStr | Compensation George T. Milkovich ; Jerry M. Newman |
| title_full_unstemmed | Compensation George T. Milkovich ; Jerry M. Newman |
| title_short | Compensation |
| title_sort | compensation |
| topic | Loondifferentiatie gtt Loonstelsels gtt Personeelsmanagement gtt Salarissen gtt Compensation management Unternehmen (DE-588)4061963-1 gnd Lohn (DE-588)4036229-2 gnd Lohnpolitik (DE-588)4036241-3 gnd |
| topic_facet | Loondifferentiatie Loonstelsels Personeelsmanagement Salarissen Compensation management Unternehmen Lohn Lohnpolitik |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006661722&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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