Book Description
This book is well suited to a variety of students, including undergraduate and master’s degree students studying compensation. Martocchio provides a framework for understanding strategic compensation that can be used by all business professionals and business majors.
Customer Reviews:
Great book for compensation managers.......2007-09-20
I bought this book as part of a course, am reading it. The text is good for ppl new to this field of compensation and one easily gets the hang of things. The book was much cheaper than if I bought it from the regular store, and it was in great shape, no highlights, no lines, as promised by the seller.
Book Description
As the leading book in its field, Compensation Management offers a practical exploration of the systems, methods, and procedures involved in establishing and administering a compensation system within any organization.
In-depth explanations of the procedures involved in establishing and administering a compensation system including, analyzing work requirements and designing a job, determining job worth, establishing job rates of pay, the elements of a total compensation package, and the importance of labor costs in a modern economy.
For compensation managers, HR professionals, and others who want to know about the aspects of establishing and administering a compensation system.
Customer Reviews:
Outdated but - As Yet, Nothing Better.......2004-10-08
I assign this as one of two textbooks in teaching Compensation Administration in graduate school.
While it has undergone 9 revisions, the attempts to update it to today's compensation world are not adequate. Far too little is here concerning internet usage, for example.
But perhaps its greatest shortcoming is in its glancing treatment of group incentive plans as a key means to unlock workforce potential. It is a glaring and unforgivable gap.
If anybody out there knows of a better fundamental compensation textbook, I'd love to hear about it.
Best of the textbooks.......2004-03-10
Compared to the other major textbooks out there, especially
the better reviewed book by "M" this is by far the more useful.
When I need to find something practical, like the Federal Evaluation System for example, or Multiple Linear Regression as a job evaluation tool, 95% of the time it is in Henderson and it is very well documented. Both these topics are barely touched on in the other major texts which I also own.
From a guy with a Ph.D. and 30 years of paying my bills with
comp information, give me Henderson any day.
Painful!.......2002-12-10
There is nothing practical about this book. It is a looooong, purely theoretical torture with only a few examples that don't work too well in the real world. I had to buy it for one of my graduate classes and here I am three months later even more clueless than I was when I started. This book is very boring, painful to read. It doesn't help that the author is clearly biased in favor of traditional HRM and refuses to give much room to more modern thinking. The exercise book is a nightmare. The exercises are either impossibly difficult and time-consuming because the textbook does not offer valuable guidance for any practical problems, or they are an absolute waste of time - students basically have to copy a chapter. I could go on like this forever. In a nutshell: buy this book if you have to, but sell it as soon as you can.
Uninformative Drivel!.......2001-09-07
This text was a quagmire of unreadable editorial comments! I purchased this book for a Human Resource class. I gained more knowledge from my fellow students than I did from this book. Defiantely skip it!
Book Description
As the market-leading text in its course area,
COMPENSATION, 9th Edition by Milkovich and Newman offers current research material, in-depth discussion of topics, integration of Internet coverage, excellent pedagogy, and a truly engaging writing style. The 9th edition continues to examine the strategic choices in managing total compensation. The total compensation model introduced in chapter one serves as an integrating framework throughout the book. The authors discuss major compensation issues in the context of current theory, research, and real-business practices. Milkovich and Newman strive to differentiate beliefs and opinions from facts and scholarly research. They illustrate new developments in compensation practices as well as established approaches to compensation decisions.
Book Description
Straight answers to your compensation questions An A-to-Z guide to compensation strategy and design, Compensation Handbook, Fourth Edition, has been completely revised and updated to keep you on top of the important changes that have taken place in this area. Editors Lance A. Berger and Dorothy R. Berger have assembled articles by leading compensation practitioners to give you authoritative solutions to a wide range of specific compensation problems. This important new edition shares with you the best thinking on attracting and retaining outstanding employees in a tight market...executive compensation...computers and compensation...how to use a mix of compensation devices...and much, much more.
Customer Reviews:
Great Reference.......2007-04-25
I found this book to be an invaluable reference for my research in the area of compensation. It covers all of the main topics in compensation management with articles from the best minds in the field. The trend summary and chapter introductions provide an overview that is interesting and insightful. That kind of analysis is hard to find. The information is surprisingly up to date, since change is slow in this field.
The book is essential for compensation professionals.
The Compensation Handbook.......2006-02-26
Received with thanks the Compensation Handbook in a very good condition. It is exactly the product I was looking for. I believe that it would be a very important reference to my business.
The Compensation Handbook.......2000-06-27
As a compensation consultant, I sought a comprehensive guide for all aspects of the field. The 4th edition of The Compensation Handbook provides simple and direct answers for every compensation problem. It is a virtual "who's who" of compensation professionals providing well-constructed, concise information on their area of expertise. No matter what information I seek -- from base compensation, variable compensation, executive compensation, performance and compensation, compensation and corporate culture, or international compensation -- I can find pertinent, practical guidance in this one book. Compensation issues that are currently challenging every company - regardless of size, age, or industry -- are especially well developed in The Compensation Handbook. The section on Corporate Culture containing chapters on "Culture and Compensation" and "Connecting Compensation, Behaviors, Culture, and Strategy to Win" by William M. Mercer consultants, "Rewarding Scarce Talent" by Patricia Zingheim, "Gaining a Competitive Edge by Improving the Return on Human Capital" by Peter LeBlanc, and "The Role of Work-Life Benefits in the Total Pay Strategy" covers issues that every compensation practitioner or human resources professional will grapple with in the forseeable future. Even the effect of technology and computers on compensation administration are handled in The Compensation Handbook. Information on global compensation strategies is relevant not only to practitioners but to anyone seeking employment on foreign soil or working for a foreign company. The Compensation Handbook is a winner.
The Compensation Handbook.......2000-06-26
As a compensation consultant, I sought a comprehensive guide for all aspects of the field. The 4th edition of The Compensation Handbook provides simple and direct answers for every compensation problem. It is a virtual "who's who" of compensation professionals providing well-constructed, concise information on area of expertise. No matter what information I seek -- from base compensation, variable compensation, executive compensation, performance and compensation, compensation and corporate culture, or international compensation -- I can find pertinent, practical guidance in this one book. Compensation issues that are currently challenging every company - regardless of size, age, industry -- are especially well developed in The Compensation Handbook. The section on Corporate Culture containing chapters on "Culture and Compensation" and "Connecting Compensation, Behaviors, Culture, and Strategy to Win" by William M. Mercer consultants, "Rewarding Scarce Talent" by Patricia Zingheim, "Gaining a Competitive Edge by Improving the Return on Human Capital" by Peter LeBlanc, and "The Role of Work-Life Benefit in the Total Pay Strategy" covers issues that every compensation practitioner or human resources professional will grapple with in the forseeable future. Even the effect of technology and computers on compensation administration are handled in The Compensation Handbook. Information on global compensation strategies is relevant not only to practitioners by to anyone seeking employment on foreign soil or working for a foreign company. The Compensation Handbook is a winner.
Book Description
THE SALES COMPENSATION HANDBOOK Second Edition
Now in an updated and expanded edition, The Sales Compensation Handbook provides the information and tools needed to design and implement top-notch sales compensation programs.
This authoritative reference from experts at Towers Perrin provides guidance on all aspects of compensating salespeople, including cash and non-cash incentives * base salary, bonus, and commission scales * team-selling roles and implications * linking compensation to company culture, and much more.
Sales managers and compensation professionals alike will find this comprehensive resource a valuable tool for building sales rep productivity.
STOCKTON B. COLT (Los Angeles, CA and Santa Fe, NM) is a principal at Towers Perrin, an internationally known consulting firm in the compensation field. He is also a frequent speaker on sales productivity and compensation.
Customer Reviews:
Avoid thousands in consulting fees!.......1998-11-15
This book was just what I needed, and much more. I expected a primer on sales compensation design. What I found was a challenge to review the underlying systems of the Sales Department _AND_ state of the art sales incentive compensation plans.
This book is a must-read for every sales manager who is looking to make sure that compensation is not the reason his or her sales force doesn't achieve its goals, or is churning. Putting these tactics to work takes real discipline; but the rewards are tremendous.
I highly recommend this book to anyone who is interested in the art and science of a finely tuned sales machine.
Meeting the challenge of creating incentive plans for sales.......1998-08-03
As one who does a considerable amount of consulting work in designing sales compensation plans, I was delighted with this publication. Anyone who has had the challenge of creating an incentive compensation plan for salespeople, or of leading and motivating a sales force, will appreciate the scope and depth of this book. Using an abundance of diagrams and tables, the chapters and sections examine a very comprehensive range of topics that is highly helpful in shaping sales compensation. One important point that is clearly made is the enormous range of potential root causes of performance problems, other than the nature of the compensation plan. In this regard, compensation is viewed in the broader context of the sales management system; far too often, this big picture is missed, or glossed over. But most of the book focuses on designing sales incentive compensation plans and provides plenty of solid content and detail. I expect readers will find this work a very worthwhi! le contribution to a complex subject; one with which so many organizations seem to continuously wrestle and, more often than not, fail to fathom and, ultimately, succeed.
Book Description
A practical guide to the latest trends and newest creative options in variable pay.
Variable pay systems are widely used as alternatives to traditional compensation programs. Now a recognized expert offers a timely examination of variable pay basics, the latest trends, and creative options. Readers will discover how to:
• gain a competitive advantage through variable pay plans
• create or redesign a system to meet an organization's particular needs
• evaluate traditional plans versus the three types of variable pay plans
• organize and prepare a launch team
• implement a complete 19-step process
The guide's practical slant is enhanced by numerous formulas, examples, and graphs that demonstrate how variable pay can yield impressive gains in productivity.
Customer Reviews:
Good For Design.......2006-03-14
Its a book that really guides you trough the steps of the design process.
" What's Wrong With Traditional Reward System ? ".......1999-09-19
As asserted by Belcher "traditional approaches to compensation do not meet today's business needs and are failing American industry. As the recognition of failure grows, U.S. companies are rapidly adopting alternative reward systems in an attempt to deal with the challenges of an increasingly competitive marketplace."
What's wrong with this traditional reward system?
According to Belcher :
* tradional reward systems compensate, but do not reward.
* traditional reward systems do not reinforce teamwork.
* traditional reward systems do not support strategic business priorities.
* traditional reward systems are inflexible and are not reflective of business results.
Then, variable/alternative pay system vs. traditional pay/reward system.
Variable pay system is defined by Belcher as an alternative compensation system that ties pay to business outcomes and supports a participative management process. Cash payouts are based on a predetermined measure or measures of group or organizational performance.
This study is highly recommended for HR professionals and line managers.
See also :
* The New Pay-J. Schuster, P. Zingheim
* Strategic Pay-E. Lawler
* Aligning Pay and Results-H. Risher
* Rewards That Drive High Performance-T. Wilson
Book Description
Widely recognized as the nation's foremost experts on pay strategies, Zingheim and Schuster offer up a nuts-and-bolts guide on how a company can use pay to create a win-win partnership with its workforce. Their advice is direct and specific and will help you tackle many of today's most critical business issues from attracting and retaining talent to motivating sales staffs to improving mergers and acquisitions. Charged with readily usable tools for successfully implementing pay change, Pay People Right! also contains numerous examples of how many top organizations are creating total rewards packages that engage people and enhance performance.
Customer Reviews:
A must read for changing or enhancing total rewards.......2000-08-26
This book provides an excellent framework for thinking through the process of changing and enahancing total rewards. It takes a broader perspective on rewards and compensation and hits the key components of a successful reward strategy right on the head! I would recommend this book to HR professionals and senior leaders interested in driving real and effective change in the way your organization rewards its associates. Well done!
Comprehensive. Thorough........2000-07-18
In today's increasingly competitive employment market, compensation is a powerful part of the package used to attract and hold top talent. Although recent research has confirmed that money is not as dominant a factor as it has been in the past, there is no denying that the Almighty Dollar still plays a central role.
If compensation is not designed properly, an organization could be dangerously vulnerable to attack from the raiding recruiters who do know how to do it right. Thus, pay plans become a vital defense as well as a powerful attracting offensive tool. The problem is that many employers, including human resource professionals, don't have a sufficient understanding of how-and why-to pay people appropriately.
Pay People Right serves as a fine textbook for those who want to gain a deeper understanding of the right ways to reward employees financially for their contributions. As the authors observe in their preface, "Much of the popular literature on management and organizational change avoids issues of pay, perhaps because it's harder to address than many gentler and less powerful change tools the literature proposes. Changing pay requires patience and constant attention." They contend that compensation design-pay and other rewards-can influence worker performance to the extent that it can change a company's achievement and destiny. Zingheim and Schuster suggest that compensation is even more of a strategic tool than it has been in the past, particularly in these times of mergers and acquisitions, consolidations, and globalization
Organization
The book is well-organized for a read-through as well as for reference at a later date. The first chapter addresses Total Rewards and the Six Reward Principles. The principles begin with Create a Positive and Natural Reward Experience. The key is communication and education. The next principle is to align rewards with business goals to create a win-win partnership. People who work for the company add value, which should be rewarded.
We should ensure that everyone is a knowledgeable stakeholder in the overall success of the company. That's the third principle: Extend people's line of sight. The fourth principle is Integrate Rewards: move beyond total pay to include total rewards. Fifth, reward individual ongoing value with base pay. Evaluate competency, performance, and the employee's value in the marketplace. I like the sixth principle: reward results with variable pay-flexiblity, agility, responsiveness.
The authors emphasize the four components of total rewards: individual growth, compelling future, total pay, and positive workplace. It's not just the money. This comprehensive approach leads to a broader strategy.
The second chapter makes the business case for changing rewards, leading to chapter on integrating total pay. The chapter on measuring and managing performance completes the first section of the book, focusing on compensation being a vital part of performance management.
The second part of the book addresses a wide range of pay tools including base pay, short-term and long-term variable pay, and recognition and celebration. The discussion on infrastructure helps the reader understand the foundation of how compensation is designed.
Part III of Pay People Right addresses how rewards are used in several different situations. Readers learn how to reward teams, scarce talent, sales professionals, and executives. In this section the authors address how rewards are used in merger and acquisition situations and in the complicated world of globalization. Chapter 15 on Global Rewards is particularly valuable for employers concerned with compensating people from different countries doing different kinds of work under different conditions. The exploration of global talent as a specific focus was enlightening . . . and, importantly, current.
The book is practical in its approach. Theory is translated effectively into practice so the textbook becomes a useful handbook, as well. The index works-I checked a number of issues and questions of interest-to help the reader find specifics to answer questions and get the job done.
Great treatment of a difficult subject.......2000-03-13
Everyone has an opinion on pay, but no one brings the depth of experience and level of insight to this subject the way these two authors do. Surveying the entire complex issue of how to pay people in a way that is fair and effective for the both the firm and the individual, Schuster and Zingheim have provided a practical road map that is easy for anyone to follow who really wants to "pay people right". If every manager in every company would read, digest, and act upon their advice much of the disfunction that plagues the workplace would be eliminated. A great book, and a great service to everyone.
A "must" reading guide !.......2000-02-27
"Pay People Right! defines", Zingheim and Schuster write, "the leading and communicating role of pay in business performance. Pay enjoys a critical role in helping companies and people enhance their performance. A number of important tools are available to improve pay design. We describe how people can add value and how your company get from where it is now to where it would like to be."
In this context Zingheim and Schuster :
* define the six reward principles that provide consistency of purpose and direction for the diverse pay topics.
* describe how an enterprise's business situation, business strategy, human resources strategy, and total reward strategy drive the business case for changing rewards.
* discuss the importance of the total reward picture in determining a firm's competitiveness in the labor market.
* discuss how business strategy and goals can best drive rewards to be successful.
* define the concept of paying individual's ongoing value along three dimensions : (1) skills and competencies that the individual uses to get results, (2) the individual's consistent performance over time, and (3) the individual's value relative to the labor market.
* review alternative structures for base pay, including grades and ranges, market rates, broad grades, and career bands.
* discuss both cash-based and stock-based long-term variable pay as a reward tool not only for executives but also for key people, wherever they are in the firm.
* discuss team reward design and the issues surrounding the move to team pay.
* discuss reward strategies for scarce talents, salesforce and executives.
* discuss the role of total pay during the turmoil of mergers and acquisitions.
* discuss results of globalization, as unique total reward opportunities.
I highly recommend this invaluable study to executives, managers, human resources and compensation professionals.
Book Description
Don't let a construction lawsuit wipe you out. More and more construction contractors are getting sued these days. Make sure you protect yourself against costly litigation with Construction Insurance, Bonding and Risk Management edited by William J. Palmer, James Maloney, and John L. Heffron. Written in jargon-free language, this quick-and-easy resource will help you identify and manage risk in every phase of construction--from bidding on the job to driving home the final nail. You get the know-how you need to make sense of today's confusing array of insurance and bonds and to select the best coverage for your general business operations, individual contracts, job bidding and more.
Customer Reviews:
Construction Insurance, Bonding, and Risk Management.......2007-01-11
I founding this book most informative and would reccommend it to any person within my sphere of bussines.
Book Description
COMPENSATING NEW SALES ROLES How to Design Rewards That Work in Today's Selling Environment In every industry the traditional sales force is disappearing. To grow and prosper today, companies are focused on managing the total customer experience -- with an increasing number of jobs now playing key roles in the sales process. But what exactly are these new sales roles? How are they compensated? Now this action manual shows how to:
** understand why sales forces are evolving into new acquisitions specialists, retention sales specialists, telephone sales managers, service consultants, and more
** design state-of-the-art compensation plans for new sales roles
** implement a compensation plan that rewards top performers
** measure the effectiveness of the plan. JEROME A. COLLETTI is president and CEO of The Alexander Group, Inc., a nationwide management consulting firm specializing in marketing and sales. MARY S. FISS is a consulting manager with The Alexander Group, Inc. They are based in Scottsdale, AZ. WALLY WOOD (Sandy Hook, CT) is co-author of several books, including Marketing Myths That Are Killing Business.
Customer Reviews:
Awesome realities.......2000-09-09
This book is a must have for todays business managers in the ever changing world of sales. I am amazed at the insight and accuracy depicted in the book. It assisted me in the re-engineering of a tired sales force. Two thumbs up!
Product Description
PAPERBACK INTERNATIONAL EDITION Textbook. Printing and illustrations are in black and white. Contents are the same as the hardcover.
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