Verfügbarkeit: Compensation

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Bibliographische Detailangaben
Titel:	Compensation
Von:	George T. Milkovich ; Jerry M. Newman
Person:	Milkovich, George T. Verfasser aut Newman, Jerry M.
Hauptverfassende:	Milkovich, George T. (VerfasserIn), Newman, Jerry M. (VerfasserIn)
Format:	Buch
Sprache:	Englisch
Veröffentlicht:	Boston [u.a.] McGraw-Hill/Irwin 2008
Ausgabe:	9. ed.
Schlagworte:	Compensation management Unternehmen Lohnpolitik Lohn
Online-Zugang:	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017018533&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
Beschreibung:	XVII, 652 S. graph. Darst.
ISBN:	9780072969412

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Datensatz im Suchindex

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adam_text	Table of Con Preface xiii Chapter 1 The Pay Model 1 Compensation: Definition, Please? 2 Society 2 Stockholders 4 Managers 6 Employees 7 Global Views—Vive la difference 8 Forms of Pay 9 Cash Compensation: Base 10 Cash Compensation: Merit Pay/Cost-of-Living Adjustments 10 Cash Compensation: Incentives 11 Long-Term Incentives 11 Benefits: Income Protection 12 Benefits: Work/Life Balance 12 Benefits: Allowances 13 Total Earnings Opportunities: Present Value of a Stream of Earnings 13 Relational Returns from Work 13 A Pay Model 15 Compensation Objectives 16 Four Policy Choices 19 Pay Techniques 21 Book Plan 22 Caveat Emptor—Be an Informed Consumer 23 1. Is the Research Useful? 24 2. Does the Study Separate Correlation from Causation? 24 3. Are There Alternative Explanations? 25 Your Turn: Glamorous Internships? Or House Elves? 25 tents Chapter 2 Strategy: The Totality of Decisions 28 Similarities and Differences in Strategies 28 Different Strategies within the Same Industry 30 Different Strategies within the Same Company 31 Strategic Choices 31 Support Business Strategy 33 The Pay Model Guides Strategic Pay Decisions 35 Stated versus Unstated Strategies 36 Developing a Total Compensation Strategy: Four Steps 36 Step 1: Assess Total Compensation Implications 36 Step 2: Map a Total Compensation Strategy 43 Steps 3 and 4: Implement and Reassess 45 Source of Competitive Advantage: Three Tests 45 Align 45 Differentiate 46 Add Value 47 Best Practices versus Best Fit ? 48 Guidance from the Evidence 49 Virtuous and Vicious Circles 51 Your Turn: Pay Matters (Productivity Does, Too) 53 Your Turn: Mapping Compensation Strategies 54 PART ONE INTERNAL ALIGNMENT: DETERMINING THE STRUCTURE Chapter 3 Defining Internal Alignment 58 Compensation Strategy: Internal Alignment 59 Supports Organization Strategy 60 v vi Table of Contents Supports Work Flow 60 Motivates Behavior 61 Structures Vary among Organizations 62 Levels 62 Differentials 63 Criteria: Content and Value 63 What Shapes Internal Structures? 65 Economic Pressures 65 Government Policies, Laws, and Regulations 67 External Stakeholders 67 Cultures and Customs 68 Organization Strategy 69 Organization s Human Capital 69 Organization Work Design 69 Overall HR Policies 70 Internal Labor Markets: Combining External and Organization Factors 70 Employee Acceptance: A Key Factor 71 Pay Structures Change 72 Strategic Choices in Designing Internal Structures 73 Tailored versus Loosely Coupled 73 Egalitarian versus Hierarchical 74 Guidance from the Evidence 75 Equity Theory: Fairness 75 Tournament Theory: Motivation and Performance 76 Institutional Model: Copy Others 78 (More) Guidance from the Evidence 79 Consequences of Structures 80 Efficiency 80 Fairness 81 Compliance 81 Your Turn: So You Want to Lead the Orchestra! 82 Chapter 4 Job Analysis 84 Structures Based on Jobs, People, or Both 85 Job-Based Approach: Most Common 87 Why Perform Job Analysis ? 87 Job Analysis Procedures 88 What Information Should Be Collected? 89 Job Data: Identification 89 Job Data: Content 92 Employee Data 92 Essential Elements and the Americans with Disabilities Act 95 Level of Analysis 96 How Can the Information Be Collected? 97 Conventional Methods 97 Quantitative Methods 99 Who Collects the Information ? 100 Who Provides the Information? 101 What about Discrepancies? 102 Job Descriptions Summarize the Data 103 Describing Managerial/Professional Jobs 103 Verify the Description 103 Job Analysis: Bedrock or Bureaucracy? 105 Judging Job Analysis 106 Reliability 106 Validity 107 Acceptability 107 Usefulness 107 A Judgment Call 108 Your Turn: The Customer-Service Agent 108 Chapter 5 Evaluating Work: Job Evaluation 114 Job-Based Structures: Job Evaluation 115 Defining Job Evaluation: Content, Value, and External Market Links 115 Content and Value 115 Linking Content with the External Market 116 Measure for Measure versus Much Ado about Nothing 117 How-to : Major Decisions 118 Establish the Purpose 118 Single versus Multiple Plans 119 Choose among Methods 121 Ranking 121 Classification 122 Point Method 125 /. Conduct Job Analysis 126 2. Determine Compensable Factors 126 3. Scale the Factors 132 4. Weight the Factors According to Importance 134 5. Communicate the Plan and Train Users 136 6. Apply to Nonbenchmark Jobs 136 7. Develop Online Software Support 136 Who Should Be Involved? 136 The Design Process Matters 137 Appeals/Review Procedures 138 I Know I Speak for All of Us When I Say I Speak for All of Us 138 The Final Result: Structure 138 Balancing Chaos and Control 139 Your Turn: Job Evaluation at Whole Foods 140 Chapter 6 Person-Based Structures 147 Person-Based Structures: Skill Plans 148 Types of Skill Plans 149 Purpose of the Skill-Based Structure 151 How-to : Skill Analysis 152 What Information to Collect? 153 Whom to involve? 153 Establish Certification Methods 153 Guidance from the Research on Skill-Based Plans 155 Person-Based Structures: Competencies 156 Defining Competencies 158 Purpose of the Competency-Based Structure 160 How-to : Competency Analysis 161 Objective 162 What Information to Collect? 162 Whom to Involve ? 165 Establish Certification Methods 165 Resulting Structure 165 Guidance from the Research on Competencies 165 One More Time: Internal Alignment Reflected in Structures 167 Administering the Plan 168 Evidence of Usefulness of Results 168 Reliability of Job Evaluation Techniques 168 Validity 169 Acceptability 170 Bias in Internal Structures 170 Wages Criteria Bias 171 The Perfect Structure 172 Your Turn: Climb the Legal Ladder 174 Table of Contents vii PART TWO EXTERNAL COMPETITIVENESS: DETERMINING THE PAY LEVEL Chapter 7 Defining Competitiveness 180 Compensation Strategy: External Competitiveness 181 Control Costs 181 Attract and Retain Employees 182 What Shapes External Competitiveness? 185 Labor Market Factors 185 How Labor Markets Work 186 Labor Demand 187 Marginal Product 187 Marginal Revenue 188 Labor Supply 189 Modifications to the Demand Side 189 Compensating Differentials 190 Efficiency Wage 190 Signaling 192 Modifications to the Supply Side (Only Two More Theories to Go) 193 Reservation Wage 193 Human Capital 193 Product Market Factors and Ability to Pay 194 A Dose of Reality: What Managers Say 195 More Reality: Segmented Supplies of Labor 195 Organization Factors 197 Industry and Technology 197 Employer Size 198 People s Preferences 198 Organization Strategy 199 Relevant Markets 199 Defining the Relevant Market 200 Competitive Pay Policy Alternatives 200 Pay with Competition (Match) 201 Lead Policy 202 Lag Policy 203 Flexible Policies 203 Pitfalls of Pies 205 Consequences of Pay-Level and Mix Decisions: Guidance from the Research 207 Efficiency 207 Fairness 208 viii Table of Contents Compliance 208 Your Turn: Sled Dog Software 209 Still Your Turn: Fit the Pay-Mix Policy to the Compensation Strategy 209 Chapter 8 Designing Pay Levels, Mix, and Pay Structures 211 Major Decisions 212 Specify Competitive Pay Policy 212 The Purpose of a Survey 213 Adjust Pay Level—How Much to Pay? 213 Adjust Pay Mix—What Forms ? 213 Adjust Pay Structure? 213 Study Special Situations 214 Estimate Competitors Labor Costs 214 Select Relevant Market Competitors 215 Fuzzy Markets 219 Design the Survey 220 Who Should Be Involved? 220 How Many Employers ? 220 Which Jobs to Include ? 223 What Information to Collect? 225 Interpret Survey Results and Construct a Market Line 228 Verify Data 229 Statistical Analysis 233 Update the Survey Data 236 Construct a Market Pay Line 236 Combine Internal Structure and External Market Rates 240 From Policy to Practice: The Pay-Policy Line 241 Policy Line as Percent of Market Line 241 From Policy to Practice: Grades and Ranges 241 Why Bother with Grades and Ranges? 241 Develop Grades 242 Establish Range Midpoints, Minimums, and Maximums 242 Overlap 243 From Policy to Practice: Broad Banding 244 Balancing Internal and External Pressures: Adjusting the Pay Structure 247 Reconciling Differences 247 Market Pricing 248 Review 249 Your Turn: Word-of-Mouse: Dot-Com Comparisons 250 PART THREE EMPLOYEE CONTRIBUTIONS: DETERMINING INDIVIDUAL PAY Chapter 9 Pay for Performance: The Evidence 255 What Behaviors Do Employers Care About? Linking Organization Strategy to Compensation and Performance Management 256 What Does It Take to Get These Behaviors? What Theory and Research Say 261 What Does It Take to Get These Behaviors? What Compensation People Say 266 Total Reward System: Besides Money, Other Rewards Influence Behavior! 267 Does Compensation Motivate Behavior? General Comments 271 Does Compensation Motivate Behavior? Specific Comments 272 Do People Join a Firm because of Pay? 272 Do People Stay in a Firm (or Leave) because of Pay? 273 Do Employees More Readily Agree to Develop Job Skills because of Pay? 275 Do Employees Perform Better on Their Jobs because of Pay? 276 Designing a Pay-for-Performance Plan 280 Efficiency 280 Equity/Fairness 282 Compliance 283 Your Turn: Burger Boy 284 Chapter 10 Pay-for-Performance Plans 287 What Is a Pay-for-Performance Plan? 287 Does Variable Pay Improve Performance Results? The General Evidence 289 Specific Pay-for-Performance Plans: Short Term 289 Merit Pay 289 Lump-Sum Bonuses 291 Individual Spot Awards 292 Individual Incentive Plans: Types 292 Individual Incentive Plans: Advantages and Disadvantages 296 Individual Incentive Plans: Examples 297 Team Incentive Plans: Types 297 Comparing Group and Individual Incentive Plans 299 Team Compensation 302 Gain-Sharing Plans 304 Profit-Sharing Plans 310 Earnings-at-Risk Plans 311 Group Incentive Plans: Advantages and Disadvantages 312 Group Incentive Plans: Examples 313 Explosive Interest in Long-Term Incentive Plans 313 Employee Stock Ownership Plans (ESOPs) 315 Performance Plans (Performance Share and Performance Unit) 316 Broad-Based Option Plans (BBOPs) 316 Your Turn: Incentives in the Clubhouse 317 Appendix 10-A: Gain-Sharing Plan at Dresser Rand 319 10-B: Profit-Sharing Plan at 3M 323 Chapter 11 Performance Appraisals 330 The Role of Performance Appraisals in Compensation Decisions 330 Common Errors in Appraising Performance 333 Strategies for Better Understanding and Measuring Job Performance 334 Strategy 1: Improve Appraisal Formats 335 Strategy 2: Select the Right Raters 344 Strategy 3: Understand How Raters Process Information 347 Table of Contents ix Strategy 4: Training Raters to Rate More Accurately 351 Putting It All Together: The Performance Evaluation Process 352 Equal Employment Opportunity and Performance Evaluation 354 Tying Pay to Subjectively Appraised Performance 358 Performance- and Position-Based Guidelines 360 Designing Merit Guidelines 360 Promotional Increases as a Pay-for-Performance Tool 362 Your Turn: Merit Pay: Making Policies and Practices that Work! 362 Appendix 11: Sample Appraisal Form: Pfizer Pharmaceutical 365 PART FOUR EMPLOYEE BENEFITS Chapter 12 The Benefit Determination Process 402 Why the Growth in Employee Benefits? 406 Wage and Price Controls 406 Unions 406 Employer Impetus 406 Cost Effectiveness of Benefits 406 Government Impetus 407 The Value of Employee Benefits 407 Key Issues in Benefit Planning, Design, and Administration 409 Benefit Planning and Design Issues 409 Benefit Administration Issues 410 Components of a Benefit Plan 414 Employer Preferences 415 Employee Preferences 419 Administering the Benefit Program 421 Employee Benefit Communication 421 Claims Processing 425 Cost Containment 425 Your Turn: Lightning Industries 426 x Table of Contents Chapter 13 Benefit Options 431 Legally Required Benefits 433 Workers Compensation 434 Social Security 437 Unemployment Insurance 440 Family and Medical Leave Act (FMLA) 441 Consolidated Omnibus Budget Reconciliation Act (COBRA) 442 Health Insurance Portability and Accountability Act (HIPAA) 442 Retirement and Savings Plan Payments 442 Defined Benefit Plans 444 Defined Contribution Plans 444 Individual Retirement Accounts (IRAs) 446 Employee Retirement Income Security Act (ERISA) 447 How Much Retirement Income to Provide 448 Life Insurance 450 Medical and Medically Related Payments 450 General Health Care 450 Health Care: Cost Control Strategies 453 Short-and Long-Term Disability 456 Dental Insurance 457 Vision Care 457 Miscellaneous Benefits 457 Paid Time Off during Working Hours 457 Payment for Time Not Worked 458 Child Care 459 Elder Care 459 Domestic Partner Benefits 459 Legal Insurance 459 Benefits for Contingent Workers 460 Your Turn: Love Inc. 461 PART FIVE EXTENDING THE SYSTEM Chapter 14 Compensation of Special Groups 467 Who Are Special Groups? 468 Compensation Strategy for Special Groups 469 Supervisors 469 Corporate Directors 470 Executives 471 Scientists and Engineers in High-Technology Industries 482 Sales Forces 486 Contingent Workers 489 Your Turn: Compensation of Special Groups 490 Chapter 15 Union Role in Wage and Salary Administration 493 The Impact of Unions in Wage Determination 494 Union Impact on General Wage Levels 495 The Structure of Wage Packages 497 Union Impact: The Spillover Effect 499 Role of Unions in Wage and Salary Policies and Practices 499 Unions and Alternative Reward Systems 504 Lump-Sum Awards 504 Employee Stock Ownership Plans (ESOPs) 505 Pay-for-Knowledge Plans 505 Gain-Sharing Plans 505 Profit-sharing Plans 506 Your Turn: General Technology 507 Chapter 16 International Pay Systems 509 Managing Variations: The Global Guide 511 The Social Contract 514 Centralized or Localized Decision Making 515 Culture 515 Culture Matters, but So Does Cultural Diversity 517 Trade Unions and Employee Involvement 518 Ownership and Financial Markets 519 Managerial Autonomy 520 Comparing Costs 521 Standard of Living: Basket of Goods versus Big Mac 521 Comparing Systems 523 The Total Pay Model: Strategic Choices 523 National Systems: Comparative Mind-Set 523 Japanese National System 524 German National System 528 Strategic Comparisons: Japan, Germany, United States 529 Strategic Market Mind-Set 532 Localizes Think Global, Act Local 532 Exporter: Headquarters Knows Best 532 Globalizer: Think and Act Globally and Locally 532 Expatriate Pay 533 Elements of Expatriate Compensation 535 The Balance Sheet Approach 537 Expatriate Systems — Objectives? Quel dommage! 538 Borderless World -» Borderless Pay? Globalists 541 Your Turn: Coke and IBM 541 PART SIX MANAGING THE SYSTEM Chapter 17 Government and Legal Issues in Compensation 547 Government as Part of the Employment Relationship 548 Demand 549 Supply 549 Fair Labor Standards Act of 1938 550 Minimum Wage 551 Living Wage 553 Hours of Work 554 Child Labor 557 Prevailing Wage Laws 558 Pay Discrimination: What Is It? 559 The Equal Pay Act 560 Definition of Equal 560 Definitions of Skill, Effort, Responsibility, Working Conditions 561 Factors Other than Sex 561 Reverse Discrimination 562 Title VII of the Civil Rights Act of 1964 563 Disparate Treatment 563 Disparate Impact 563 Pay Discrimination and Dissimilar Jobs 564 Table of Contents xi Proof of Discrimination: Use of Market Data 564 Proof of Discrimination: Jobs of Comparable Worth 565 Earnings Gaps 566 Sources of the Earnings Gaps 568 Differences in Occupations and Qualifications 569 Differences in Industries and Firms 571 Union Membership 572 Presence of Discrimination 572 Gaps Are Global 573 Comparable Worth 573 The Mechanics 574 Union Developments 576 A Proactive Approach 577 Your Turn: Self-Evaluation and Pay Discrimination 577 Still Your Turn: Celebrity Sweatshops? 578 Chapter 18 Management: Making It Work 581 Managing Labor Costs 582 Controlling Employment: Staffing Levels and Hours 583 Controlling Average Cash Compensation 587 Control Salary Level: Top Down 587 Current Year s Rise 587 Ability to Pay 587 Competitive Market Pressures 588 Turnover Effects 588 Cost of Living 588 Rolling It All Together 590 Control Salary Level: Bottom Up 590 Ethics: Managing or Manipulating? 593 Where Is the Compensation Professional? 594 Embedded Controls 595 Range Maximums and Minimums 595 Compa-Ratios 596 Variable Pay 596 Analyzing Costs 597 Analyzing Value Added 597 Communication: Managing the Message 600 Say What? 603 Pay as Change Agent 605 Structuring the Compensation Function 606 xii Table of Contents Centralization-Decentralization 606 Flexibility within Corporatewide Principles 606 Reengineering and Outsourcing 607 Controls as Guidelines: Let (Thoughtful) Managers Manage 607 Your Turn: Communication by Copier 608 Still Your Turn: Ethics in Compensation Decisions 609 Glossary 610 Name Index 631 Subject Index 640
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spellingShingle	Milkovich, George T. Newman, Jerry M. Compensation Compensation management Unternehmen (DE-588)4061963-1 gnd Lohnpolitik (DE-588)4036241-3 gnd Lohn (DE-588)4036229-2 gnd
subject_GND	(DE-588)4061963-1 (DE-588)4036241-3 (DE-588)4036229-2
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	Compensation management Unternehmen (DE-588)4061963-1 gnd Lohnpolitik (DE-588)4036241-3 gnd Lohn (DE-588)4036229-2 gnd
topic_facet	Compensation management Unternehmen Lohnpolitik Lohn
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