Compensation Management

This engaging core textbook on compensation develops a market-driven perspective, written with managers in mind.

Strategically managing compensation is a key human capital management initiative that can greatly impact your company's success, and with SAP ERP HCM Enterprise Compensation Management you have the tools you need for an effective and consistent strategy. So if you're an HR professional, IT professional, or SAP ERP HCM consultant who needs to know how to deliver and support a successful enterprise compensation implementation using SAP, you'll find exactly what you need in this detailed, practical book. Quickly learn the configuration and development strategies needed for a successful implementation and find out which tools are available to effectively manage and support both monetary and nonmonetary budgets, as you explore the budgeting cycle from preparation, initialization, and maintenance to closure. Then, discover how effectively ECM integrates with other SAP ERP HCM modules, including personnel administration, organizational management, personnel cost planning, performance management, and payroll.The authors go well beyond the basics to explore job pricing functionality, including the process of setting up vendors, participating in salary surveys, importing market data from surveys, analyzing market data, and updating pay structures. Plus, they provide you with unparalled insight into advanced issues in a typical ECM implementation such as on-cycle growth and/or organizational promotions during the compensation cycle, off-cycle increases, and second level approval of compensation.

This book outlines a new way of looking at rewards-a holistic approach that uses measurement to determine what an organization actually valuses (in terms of skills, knowledge, experience and behaviors).Further it analyzes the impact of the braod spectrum of reward programs (pay benefits and carrers) on human capital and, in turn, on an organization's profitability.It discusses variable pay programmes, competency models to employee reward, talent management for business optimization, compenation in Not-For-Profit Organizations, designing the annual management incentive plan etc.

Compensation Management presents a comprehensive account of the intricacies related to compensation and reward management in Indian organizations—a vital strategic feature of HR management. The book covers fundamental concepts of the subject along with the approaches, tools, techniques and allied issues. Starting with conceptual framework, it discusses wage determination and wage fixation practices in India, salary reviews and reward management policies, and processes and procedures, in addition to international remuneration with special reference to expatriates and the remuneration of third country nationals. It blends theoretical concepts with real-life practices followed in the corporate sector, with a focus on Indian organizations. This book would be helpful to students of human resource management, business economics, public administration, social work and other allied fields. Key Features: • Covers the role of art and science of compensation management in raising the competitive edge of organizations • Focuses on recent policy developments, contemporary industry-wide changes and probable strategies for issues discussed • Key pedagogical features, including contemporary case studies and activities

An up-to-date, revised edition of the complete, practical guide to designing and implementing effective compensation plans A compensation package should be more than just the means to attract and retain talented executives. The right kind of plan can give your company a powerful strategic advantage. In Paying for Performance, Second Edition, consultants at Mercer Human Resource Consulting, Inc., one of the world's leading human resources consulting firms, give you the tools and techniques you need to design and implement a highly effective compensation program that will sharpen your company's competitive edge for years to come. The book also shows you how to understand shareholder expectations, government regulation, and a host of business and human resources issues. Paying for Performance, Second Edition: * Describes best practices used at America's top-performing companies * Offers proven pay-for-performance tools for addressing current and future pay issues * Uses case studies drawn from extensive Mercer Human Resource Consulting, Inc. research * Addresses the special issues affecting pay-for-performance in not-for-profits * Presents expert advice on managing talent and competencies to maximize performance * Addresses the regulatory issues that affect executive compensation * Covers everything from base pay to annual and long-term compensation