Developing and Managing a Total Compensation System

Developing and Managing a Total Compensation System is a brief, student-friendly textbook that provides readers with essential knowledge regarding compensation. It features a coherent overarching model that acts as an organizing framework for the text and helps students readily grasp how to apply key principles and learning in real-world contexts.Opening chapters provide readers with an introduction to total compensation systems and guidelines for developing compensation objectives. Additional chapters address how to create an internal alignment strategy, including how to conduct job analyses and evaluations, and develop a person-based structure. Students learn how to cultivate an external competitiveness strategy via the design of pay mix, levels, and structures, and the administration of employee benefits. Dedicated chapters cover developing an employee contributions strategy, including the design of pay-for-performance plans and performance appraisals. Coverage is also dedicated to developing a comprehensive management strategy. Closing chapters help students understand how to implement and evaluate a compensation system, as well as how to approach special circumstances. Designed to provide readers with a concise yet complete overview, Developing and Managing a Total Compensation System is an ideal textbook for courses and programs in human resource management and industrial-organizational psychology.