Title: The new pay
First published: 1992
Description: How can organizations get added value from total compensation expenditures and make pay a positive force for organizational excellence? Jay Schuster and Patricia Zingheim demonstrate that adopting new pay practices will enable any organization to achieve more, whether it is striving for greater customer focus, quality, financial performance, or market share. Traditional pay, although professing to reward performance, is actually based on tenure, entitlement and internal.

Equity. Schuster and Zingheim show that it often creates a false sense of employee security by ignoring the financial performance of the organization, and fails to do even an adequate job of rewarding individual performance. In contrast, the new pay practices they propose help form a positive partnership linking employee and organizational performance and providing employees with rewards that correspond to their organization's success. Viewing pay from the total.

Compensation perspective, new pay ensures the most effective use of each component--base pay, variable pay (incentives), and indirect pay (benefits). The authors recommend extensive use of variable pay to encourage employee involvement, collaboration, and excellent team, group, organizational, and individual performance results. The authors provide powerful tools for all organizations to use in developing a total compensation strategy and pay programs. Specifics on.

Conceiving and implementing new base pay, variable pay and indirect pay plans will be invaluable to human resource professionals, executives, line managers, and entrepreneurs who want to ensure that pay will facilitate improved organizational performance, and to employees who will participate as partners in the success of their organizations. What's more, the book lays out a decisive financial argument for adopting new pay. Practical examples of successful programs show.

How to make both employees and organizations new pay winners in a highly competitive, customer-dominated, global economy.
Subjects: Compensation management, Employees, rating of, ORaganization and Administration