Compensation Theory And Practice

`Gerhart and Rynes provide a thorough, comprehensive review of the vast literatures relevant to compensation. Their insights regarding the integration of economic, psychological and management perspectives are particularly enlightening. This text provides an invaluable tool for those interested in advancing our understanding of compensation practices' - Alison Barber, Eli Broad College of Business, Michigan State UniversityCompensation provides a comprehensive, research-based review of both the determinants and effects of compensation. Combining theory and research from a variety of disciplines, authors Barry Gerhart and Sara Rynes examine the three major compensation decisions - pay level, pay structure and pay delivery systems.Revealing the impact of different compensation policies, this interdisciplinary volume examines: the relationship between performance-based pay and intrinsic motivation; implications of individual pay differentials for team or unit performance; the consequences of pay for performance policies; effect sizes and practical significance of compensation findings; and directions for future research.Compensation considers why organizations pay people the way they do and how various pay strategies influence the success of organizations. Critically evaluating areas where research is inconsistent with common beliefs, Gerhart and Rynes explore the motivational effects of compensation.Primarily intended for graduate students in human resource management, psychology, and organizational behaviour courses, this book is also an invaluable reference for compensation management consultants and organizational development specialists.

This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.

Compensation: Effective Reward Management fully integrates compensation techniques with compensation theory and research, providing the reader with a unique understanding of the interrelationship between theory and practice. This edition continues to provide coverage of unique Canadian issues, a solid grounding in motivational and expectancy theories, as well as an integrating model that further reinforces the connection between theory and practice. New Features A new chapter on the influence of unions. A new discussion on the impact of culture on compensation. New coverage of person-based pay. An updated diagnostic tool for evaluating the effectiveness of reward programs. A new design with improved graphics and charts. Other Features Instructor's manual with transparency masters.

This text equips students with a solid understanding of the theories, concepts, and principles behind compensation decision making. The new edition includes updated information about the detailed procedures used in implementation of compensation practices.

Based on the authors' experience, research and benchmarking activities, this definitive book explains that reward management is about performance - of individuals, teams and the whole organization. It examines in detail the processes and various approaches that can be adopted to achieve and reward outstanding skill and competence levels in the workplace. Comprehensive and highly practical in its approach, it takes a strategic perspective and addresses the wide gap that exists between theory and practice, with a focus on the implications for practitioners. This revised fifth edition includes new and updated chapters on age discrimination, bonus schemes, recognition schemes and pensions.