Solving the Compensation Puzzle Putting Together a Complete Pay and Performance System

ISBN-10: 1586440926
ISBN-13: 9781586440923
Edition: 2007
Authors: Sharon K. Koss
List price: $47.95
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Description: Whether creating a new system or filling in the gaps in an established business, this resourcenbsp;acts as a practical tool for dealing with compensation in the workplace. Linking pay and performance,nbsp;this guidebooknbsp;demonstrates how to  More...

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Book details

List price: $47.95
Copyright year: 2007
Publisher: Society for Human Resource Management
Publication date: 4/1/2008
Binding: Paperback
Pages: 150
Size: 5.75" wide x 8.75" long x 0.50" tall
Weight: 0.924

Whether creating a new system or filling in the gaps in an established business, this resourcenbsp;acts as a practical tool for dealing with compensation in the workplace. Linking pay and performance,nbsp;this guidebooknbsp;demonstrates how to improve a salary administration program, and includes facts sheets, templates, and sample forms that can be customized to meet each organization's unique requirements.

Preface and Acknowledgements
Introduction: A Step-by-Step Guide to Designing a Pay-for-Performance System
What Is in This Book?
Whit Is Not in This Book?
A Historical Look at Pay for Performance
Major Labor Market Trends
Workforce Trends: Generations Working Side by Side
Multicultural Issues
No Middle Class-The Haves vs. The Have Notes
Now What?
Is Pay for Performance Worth the Trouble?
Components of a Successful Pay-for-Performance System
Organizational Metrics to Gauge Readiness for a Pay-for-Performance Ban
Myths and Facts About Merit Pay
Best Practices in Pay for Performance
Public Sector and Non-profit Organizations
Real-Life Example: A Tale of Two Cities: The Importance of Top Management Support
Compensation Boot Camp: Concepts and Definitions
Sanity Suggestions
Compensation's Role in Human Resource Strategy
Engaging Key Stakeholders to Support the Compensation Strategy
The Payoff of a Pay-for-Performance Compensation Strategy
Important Considerations in Designing a Compensation Strategy
Goals for the Pay-for-Performance System
12 Steps for Designing a Pay-for-Performance System
How to Conduct a Successful Employee Survey
Real-life Example: The Case Study of the Dog Shelter Where Its Bark Was Worse than HP Bite
Compensation Boot Camp: Concepts and Definitions
Sanity Suggestions
The Pay-for-Performance Foundation
The 500-Foot View: Where Are We Going?
Sticky Design Issues
What Are the Best Resources?
When Is an Employee Design Team Not Appropriate?
Compensation Policy Decisions
Pay Secrecy in Private-Sector Companies
The Case of Pay Secrecy: The Need-to-Know Theory
What Is Salary Compression?
Can Pay Compression Be Resolved?
Managing Pay for Performance in Financial Downturns
Create a Three-Year Strategic Plan for Compensation and Benefits
Transformational vs. Transactional Upgrades
Real-Life Example: Swimming with the Sharks
Compensation Boot Camp: Concepts and Definitions
Sanity Suggestions
How to Write a Job Description
Common Uses for a Job Description
Simplifying the Process of Writing Job Descriptions
Enhancing the Quality of Job Descriptions
Gathering Job Description Information
Tips for Writing Job Descriptions
Suggestions for the Supervisor Review Process
Common Issues that Arise During the Supervisor Review
The Necessity of Management Approval
Editing the Job Description: The Final Check
The FLSA Puzzle: Is the Position Non-Exempt or Exempt?
Job Descriptions and the Americans with Disabilities Act (ADA)
How to Keep Job Descriptions Up-to-Date
Employee Job Description Input Form
Real-Life Example: The Case of the Fishing Company Managers Who Hated Paperwork
Tips and Takeaways
Compensation Boot Camp: Job Description Terms and Job Analysis Methods
Sanity Suggestions
Make Sure Employees Are in the Right Salary Range
External Equity-The Market Study
How to Prepare for a Market Study
Major Sources of Salary Information
How to Make the Salary Survey Decision
How to Use Salary Survey Information
How to Match the Organization's Jobs to Its Pay Surveys
Market Survey Tips
Matching Jobs Like a Compensation Professional
Example
Quality Assurance: The Critical Last Step
Make Sure the Salary Plan Fits the Organization
Internal Equity Challenges
Real-Life Examples: The Case of the Complex Collection
The Case of the Difficult Blood Draw
The Case of the Life-Saving Social Worker
Steps for Completing an Internal Equity Review
Job Ranking
Real-Life Example
Point-Factor Internal Equity System
Point-Factor System Advantages and Disadvantages
Steps for Designing a Point-Factor System
How to Create Salary Grades
Pay Range Widths: What Do You Need to Know?
Progression Between Salary Grades
Real Life-Examples: The Case of a Nice Title, But No Raise
The Tale of the Housekeeper vs. Janitor Market Pay
The Case of the Mysteriously Underpaid Tech Support Department
Compensation Boot Camp: Terms: Market Study
Sanity Suggestions
Performance Appraisal: An Essential Step to Pay for Performance
Where Do We Stand?
What Is the Bottom Line?
Coaching-A Unique Opportunity to Change an Employee's Life
Real-Life Examples: The Case of the 20-Something Employee
The Case of the Drinking Employee
Steps far Making the Final Link to Pay for Performance
Real-Life Examples: The Case of the "Drive-thru Performance Appraisal"
The Once-in-a-Lifetime Thank-You
Sanity Suggestions
How to Design, Update and Maintain the New Compensation System
How to Update a Salary Han for New Jobs
Real-Life Example: The Case of the Manager's Clever Work Around for More Employee Pay
Salary and Benefit Information as Part of the Annual Budgeting Process
Compa-ratio Examples
Administration of the New Compensation System
Promotional Adjustments
Approvals of Compensation Decisions
Maintaining the Pay-for-Performance Link in Hard Times
Real-Life Example: The Case of the Employees in the Wrong Place
Compensation Boot Camp: Compensation Administration Terms
Sanity Suggestions
Next Steps
End Notes
Index
About the Author
Figures
Key Stakeholders of a Pay System
Market Position Choices
Pay Policies: Advantages and Disadvantages
Roles for Employee Compensation Committee
Work Plan for a Small Company in a Mid-size City
Salary Survey Market Data Choices
Relevant Labor Market
Three Major Types of Salary Survey Choices
Suggested Annual Salary Increase Guidelines for FY 2009
Compensation Forecasting & Budgeting Process
Tools
Compensation Philosophy Questionnaire
Employee Guidelines for Writing Excellent Job Descriptions
Action Verb Examples
Job Description Questionnaire (Non-exempt)
Job Description Questionnaire (Exempt)
Completed Job Description Questionnaire (Exempt)
ABC Company Official Job Description (Exempt)
Job Description Resource List
Part A: Market Survey Summary Sample
Part B: ABC Company List of Exempt Jobs by Grade
Sample Salary Range Structures
ABC Company Salary Administration Manual
CD-ROM Tools
Compensation Philosophy Questionnaire
Employee Guidelines for Writing Excellent Job Descriptions
Action Verb Examples
Job Description Questionnaire (Non-exempt)
Job Description Questionnaire (Exempt)
Completed Job Description Questionnaire (Exempt)
ABC Company Official Job Description (Exempt)
Job Description Resource List
Part A: Market Survey Summary Sample
Part B: ABC Company List of Exempt Jobs by Grade
Sample Salary Range Structures
ABC Company Salary Administration Manual
How to Achieve a Successful Employee Survey
Completed Job Description Questionnaire (Non-exempt)
ABC Company Official Job Description (Non-exempt)
Sample Point-Factor System
Sample Custom Salary Survey
Sample Performance Appraisal #1
Sample Performance Appraisal #2
How to Deliver Quality Performance Appraisals
Compensation Survey

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