Jon M Werner - Böcker

The world of work has changed considerably since the second edition of Merit Pay was published. Advances in technology, changes in job design, alternate forms of work processes, and differences in workforce demographics form many of these changes. In addition, compensation (in general) and merit pay (in particular) also have experienced changes based on these trends and events. The third edition addresses how these occurrences have introduced new theory and research impacting merit pay plans.While much has changed in the compensation world since the second edition, merit pay remains popular – with perhaps as many as 90% of U.S. firms using it despite its controversial nature. The timeliness of this edition could not be better, occurring on the heels of major events and trends. Readers will benefit from over 230 new references added to the third edition. Moreover, this edition provides study questions and case studies to increase understanding of concepts, principles, and applications. Finally, in selected areas of the book, we added a new feature - current events in merit pay. These events explore innovative and often provocative subjects, aiming to leave readers with meaningful ideas to reflect upon.Merit Pay is essential reading for undergraduate and graduate students studying compensation administration, as well as professionals working in pay administration, human resource management, industrial and organizational psychology, and labor economics.

The world of work has changed considerably since the second edition of Merit Pay was published. Advances in technology, changes in job design, alternate forms of work processes, and differences in workforce demographics form many of these changes. In addition, compensation (in general) and merit pay (in particular) also have experienced changes based on these trends and events. The third edition addresses how these occurrences have introduced new theory and research impacting merit pay plans.While much has changed in the compensation world since the second edition, merit pay remains popular – with perhaps as many as 90% of U.S. firms using it despite its controversial nature. The timeliness of this edition could not be better, occurring on the heels of major events and trends. Readers will benefit from over 230 new references added to the third edition. Moreover, this edition provides study questions and case studies to increase understanding of concepts, principles, and applications. Finally, in selected areas of the book, we added a new feature - current events in merit pay. These events explore innovative and often provocative subjects, aiming to leave readers with meaningful ideas to reflect upon.Merit Pay is essential reading for undergraduate and graduate students studying compensation administration, as well as professionals working in pay administration, human resource management, industrial and organizational psychology, and labor economics.

This book was written to bring together a summary of the current knowledge on merit pay and to further advance understanding of this type of incentive pay plan. When the writing of the first edition was begun in 1989, there were no books devoted exclusively to the subject of merit pay. Thus, this book was written to fill a void in the compensation literature. Since then, surveys have shown that merit pay remains a frequently used method of incentive compensation, and research into the merit pay process continues to grow. However, other forms of incentive pay, such as gainsharing, continue to receive the most attention, as evidenced by the number of books and articles on this topic in the popular press. In response to the frequent use of merit pay in organizations and the growing body of research, a book-length treatment of merit pay was needed. What we hope to do with this second edition, beyond updating, is to link merit pay with the many changes going on in total compensation or "reward management" (R. Heneman, 2001a, 2002). We also will argue that, even among all the challenges and changes that organizations currently face, there is still "merit" in appropriately conceived and implemented merit pay plans (Bates, 2003c).

This book was written to bring together a summary of the current knowledge on merit pay and to further advance understanding of this type of incentive pay plan. When the writing of the first edition was begun in 1989, there were no books devoted exclusively to the subject of merit pay. Thus, this book was written to fill a void in the compensation literature. Since then, surveys have shown that merit pay remains a frequently used method of incentive compensation, and research into the merit pay process continues to grow. However, other forms of incentive pay, such as gainsharing, continue to receive the most attention, as evidenced by the number of books and articles on this topic in the popular press. In response to the frequent use of merit pay in organizations and the growing body of research, a book-length treatment of merit pay was needed. What we hope to do with this second edition, beyond updating, is to link merit pay with the many changes going on in total compensation or "reward management" (R. Heneman, 2001a, 2002). We also will argue that, even among all the challenges and changes that organizations currently face, there is still "merit" in appropriately conceived and implemented merit pay plans (Bates, 2003c).