Cover image for Compensation management in a knowledge-based world
Title:
Compensation management in a knowledge-based world
Author:
Henderson, Richard I., 1926-
Edition:
Eighth edition.
Publication Information:
Upper Saddle River, N.J. : Prentice Hall, [2000]

©2000
Physical Description:
xiii, 690 pages : illustrations ; 25 cm
Language:
English
ISBN:
9780130866820
Format :
Book

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Call Number
Material Type
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Status
Central Library HF5549.5.C67 H46 2000 Adult Non-Fiction Non-Fiction Area
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Summary

Summary

This text offers a practical exploration of the systems, methods and procedures involved in establishing and administering a compensation system within any organization.


Table of Contents

Prefacep. ix
Part I Macroeconomic Compensation Conceptsp. 1
Chapter 1 Compensation in a Knowledge-Based Global Economyp. 3
Capitalism and Knowledge in a Global Economyp. 4
Compensation and Organizational Strategyp. 5
Integrating Knowledge and Skill Requirements, Organization Compensation, and Employee Incomep. 6
Lifestyle and Compensationp. 6
Pay and Social Classp. 7
Summaryp. 15
Review Questionsp. 15
Chapter 2 The Reward System: Compensation and Noncompensation Dimensionsp. 16
The Reward Systemp. 17
Compensation Systemp. 17
Compensation Dimensionsp. 19
Noncompensation Systemp. 23
Summaryp. 27
Review Questionsp. 27
Chapter 3 The World of Pay and Compensationp. 28
The Compensation Programp. 29
Determining Rates of Payp. 30
Jobs and Pay in the United Statesp. 38
A World in Transitionp. 42
Summaryp. 43
Review Questionsp. 43
Appendix 3A Economic Theoriesp. 44
Chapter 4 Organizational Structure: Strategic and Tactical Compensation Issuesp. 57
Development of an Organizationp. 58
Employees--A Critical Resourcep. 61
Division of Laborp. 62
Creating an Organizational Hierarchyp. 63
Board of Directorsp. 65
Senior Managementp. 68
Operating Managersp. 72
Sales Personnelp. 74
Professionalsp. 76
Operative Employeesp. 78
Pay Relationships: A Fairness Issuep. 86
Summaryp. 91
Review Questionsp. 91
Chapter 5 Legislation and Compensationp. 93
The Legislative Processp. 95
Wage and Hour Legislationp. 96
Employee Pension and Welfare (Benefits) Legislationp. 102
Tax Treatment Legislationp. 111
Antidiscrimination in Employment Legislationp. 116
Wage and Price Control Legislationp. 124
Legislation Affecting Public Employeesp. 125
Summaryp. 126
Review Questionsp. 127
Part II Microeconomic Compensation Conceptsp. 129
Chapter 6 Job Analysisp. 131
Preliminary Considerationsp. 133
Planning a Job Analysis Programp. 133
Gaining Employee Acceptance and Cooperationp. 141
Collecting and Describing Job Datap. 142
Reviewing and Revising Job Factsp. 157
Designing a Custom-Made Job Analysis Questionnairep. 157
Guidelines for Conducting a Job Analysis Interviewp. 160
Other Job Analysis Methodologiesp. 162
Summaryp. 163
Review Questionsp. 164
Appendix 6A Other Job Analysis Methodologiesp. 164
Chapter 7 Job Descriptionp. 171
Broad, Generic Job (Class) Descriptions Versus Narrow, Specific Job (Position) Descriptionsp. 172
A Job Contractp. 173
Planning, Operations, and Controlp. 174
Elements of the Job Descriptionp. 176
Other Kinds of Information Used in Describing Jobsp. 193
Other Ways of Describing Job Factsp. 196
Revising Job Descriptionsp. 200
Using the Computerp. 201
Summaryp. 206
Review Questionsp. 207
Chapter 8 Job Evaluationp. 208
Job Requirements and Payp. 209
Job Evaluation Issuesp. 210
The Intraoccupational and Interoccupational Method of Job Classificationp. 211
Whole Job Rankingp. 213
Position (Job) Classification--Predetermined Grading Approachp. 214
A Market Pricing Approachp. 216
The Maturity Curve Methodp. 218
The Development and Use of Compensable Factorsp. 220
Weighting and Rating of Compensable Factorsp. 231
Job Evaluation and Comparable Worthp. 236
Summaryp. 240
Review Questionsp. 240
Appendix 8A Paired-Comparison Proceduresp. 241
Appendix 8B Other Job Evaluation Methodsp. 244
Appendix 8C Using Multiple Regression Analysis in Questionnaire-Based Job Evaluationp. 250
Chapter 9 A Point-Factor Method of Job Evaluationp. 255
Combining Point-Factor and Factor-Comparison Methodsp. 256
Job Evaluation Committeep. 257
Using FES to Determine Job Worthp. 262
Summaryp. 282
Review Questionsp. 284
Chapter 10 Surveying Market Pay and Compensation Practicesp. 285
Critical Pay Survey Problemsp. 286
Determining the Need for a Surveyp. 289
Preparing for the Surveyp. 293
Identifying Survey Methodsp. 298
Designing the Surveyp. 301
Performing a Statistical Analysis of the Datap. 314
Using Third-Party Surveysp. 318
Sources of Third-Party Datap. 319
Summaryp. 323
Review Questionsp. 323
Chapter 11 Designing a Base Pay Structurep. 324
Pay Structure Architecturep. 325
Interlocking Multiple Pay Structuresp. 350
The Expanding or Fan-Type Pay Structure: An Optional Approachp. 351
Architectural Design Hintsp. 354
Pay Sectors and Levels of Education, Experience, and Trainingp. 355
Spreadsheet Softwarep. 356
Summaryp. 356
Review Questionsp. 357
Appendix 11A The Least-Squares Method for Determining Line of Best Fit (Trend Line)p. 357
Chapter 12 Team-Based Pay in a Knowledge-Based Worldp. 361
Kinds of Teamsp. 362
Use of Skill-, Knowledge-, and Competency-Based Payp. 367
Summaryp. 383
Review Questionsp. 383
Referencesp. 384
Part III Micro- and Macroeconomic Compensation Conceptsp. 385
Chapter 13 Measuring and Paying for Performancep. 387
Pay for Performance in a Knowledge-Oriented, Service-Sector Economyp. 388
Application of Motivation Theoriesp. 389
Merit Payp. 398
Performance Appraisal: Issues and Opportunitiesp. 400
Performance Appraisal: A Cost-Effectiveness Analysisp. 407
Designing a Job Content-Based Performance Appraisal Programp. 410
Other Critical Performance Appraisal-Related Issuesp. 417
Summaryp. 420
Review Questionsp. 421
Appendix 13A Ranking and Rating Instruments and Formatsp. 421
Appendix 13B Validity and Reliabilityp. 423
Chapter 14 Short-Term Incentivesp. 427
Premiums and Differentialsp. 428
Pay for Units Producedp. 432
Individual-Based Bonuses and Awardsp. 433
Aggregating Employees for Incentive Opportunitiesp. 440
Organization-Wide Short-Term Incentivesp. 443
Summaryp. 454
Review Questionsp. 455
Appendix 14A Setting Standards and Designing Incentives for an Industrial Economyp. 455
Appendix 14B Two Other Kinds of Gainsharing Plansp. 460
Chapter 15 Long-Term Incentives and Wealth Buildingp. 465
Wealth and Work in the United Statesp. 466
Tax Legislationp. 467
Designing a Long-Term Incentive and Deferred Compensation Planp. 468
Qualified Deferred Compensation Arrangementsp. 471
Summaryp. 485
Review Questionsp. 485
Chapter 16 Executive and International Compensationp. 486
Executive Compensationp. 487
Capital Accumulationp. 495
Maximizing Executive Compensation Opportunitiesp. 498
International Compensationp. 502
Summaryp. 506
Review Questionsp. 507
Appendix 16A Tax Legislation-Related Termsp. 507
Appendix 16B Stock and Stock Equivalent Acquisition Plansp. 513
Appendix 16C Special Corporate Insurance Programsp. 522
Chapter 17 Benefits and Servicesp. 525
Benefits Administrationp. 531
Employee Benefitsp. 533
Employee Servicesp. 557
Funding Benefits Through a VEBAp. 568
Costing Benefitsp. 569
Flexible Compensation/Benefits Plan (Cafeteria Plans)p. 570
Summaryp. 580
Review Questionsp. 580
Chapter 18 Pay Delivery Administrationp. 581
Tying It All Togetherp. 582
The Budget Processp. 584
Administration of Payp. 586
Quality of Work Life and Pay Administrationp. 608
Other Compensation Administration Issuesp. 610
Due Processp. 618
Summaryp. 622
Review Questionsp. 623
Action Wordsp. 624
Glossary of Termsp. 633
Name Indexp. 663
Subject Indexp. 666

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