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Economic Cycle And Effective Compensation Management
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Book Synopsis Economic Cycle and Effective Compensation Management by : Pankaj M. Madhani
Download or read book Economic Cycle and Effective Compensation Management written by Pankaj M. Madhani and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Various phases of economic cycle are characterized by changes in the dynamics of the economy. In particular, expansion phases are periods when economic activity tends to trend up such as recovery and growth period, whereas recession phases are periods when economic activity tends to trend down such as period of recession and slump. Understanding these phases has been the focus of management researchers to mitigate negative impacts of business cycle on the organizations. Realigning fixed and variable pay in the pay structure helps organizations in maintaining proper leverage ratio for mitigating adverse impact of recession on profitability and survival of the organization. This article provides a compensation management framework for properly designing pay structure, and explains with the empirical analysis fixed and variable pay relationship, and effective management of operating leverage during different stages of economic cycle for effective compensation management in the organizations.
Book Synopsis Managing Sales Compensation Across the Economic Cycle by : Pankaj M. Madhani
Download or read book Managing Sales Compensation Across the Economic Cycle written by Pankaj M. Madhani and published by . This book was released on 2017 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sales organizations need to closely scrutinize the role of their sales force and its overall compensation costs. If organizations adapt to the changing internal and external environment, they are likely to be more successful and profitable. The sales force compensation plan should be compatible with the changing nature of the job, depending on stages of economic cycle. The economic life cycle stages are likely to be a key determinant of sales compensation strategies and their effectiveness in achieving organizational goals. Sales organizations must design a compensation strategy based on sales efforts and market dynamics according to economic cycle. Sales organizations must reassess their sales force structure and associated compensation plan across the economic cycle. This article illustrates economic as well as a non-economic analysis for optimal choice between direct sales reps and independent reps. Various frameworks provided in this article will help managers of sales organizations in effectively managing compensation costs across the economic cycle.
Book Synopsis Effective Compensation Management for Competitive Advantages by : Pankaj M. Madhani
Download or read book Effective Compensation Management for Competitive Advantages written by Pankaj M. Madhani and published by . This book was released on 2014 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Indian IT industry is characterized by high growth largely through exports to various international markets. Exports have been a main focus of the Indian IT industry and a major source of revenues. Performance of this sector is negatively influenced by reduced IT expenditure due to downturn of business cycle in developed economy such as US and Europe, increased market competition, and rising wage bills of IT firms. Compensation cost accounts for nearly 60 per cent of total revenue of the firms. Increased pressure to enhance performance and profitability of the firm has motivated human resources (HR) managers to identify and implement effective compensation plans for their employees. Restructuring fixed and variable pay in the pay mix helps firms in maintaining proper leverage ratio for mitigating adverse impact of contraction phase of business cycle. This paper provides matrix and framework for effectively designing compensation strategy for IT firms.
Download or read book Compensation Management written by Deb and published by Excel Books India. This book was released on 2009 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Paying for Performance by : Peter T. Chingos
Download or read book Paying for Performance written by Peter T. Chingos and published by John Wiley & Sons. This book was released on 2002-10-15 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: An up-to-date, revised edition of the complete, practical guide to designing and implementing effective compensation plans A compensation package should be more than just the means to attract and retain talented executives. The right kind of plan can give your company a powerful strategic advantage. In Paying for Performance, Second Edition, consultants at Mercer Human Resource Consulting, Inc., one of the world's leading human resources consulting firms, give you the tools and techniques you need to design and implement a highly effective compensation program that will sharpen your company's competitive edge for years to come. The book also shows you how to understand shareholder expectations, government regulation, and a host of business and human resources issues. Paying for Performance, Second Edition: * Describes best practices used at America's top-performing companies * Offers proven pay-for-performance tools for addressing current and future pay issues * Uses case studies drawn from extensive Mercer Human Resource Consulting, Inc. research * Addresses the special issues affecting pay-for-performance in not-for-profits * Presents expert advice on managing talent and competencies to maximize performance * Addresses the regulatory issues that affect executive compensation * Covers everything from base pay to annual and long-term compensation
Book Synopsis Compensation as a Strategic Asset by : August J. Aquila
Download or read book Compensation as a Strategic Asset written by August J. Aquila and published by John Wiley & Sons. This book was released on 2017-05-15 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everyone wants to work at a successful firm where the rewards are both financial and professional. What makes the top firms successful is not merely superior execution, though that's a good place to start, what makes them stand out is excellence at hiring and keeping the best, and having a smart succession plan in place. Partner compensation can be an effective tool in achieving these goals. Authors Aquila and Rice show how to use recruiting, retention, goal-setting, evaluation, and pay for performance practices recommended by the top CPA firm management consultants. This is the one guide you need, tailored specifically for professional practices, to implement the leading methods to align compensation with performance and strategic initiatives. You get: Analysis of leading views on performance management, hiring, and retention Specific, step-by-step guidance on how to implement compensation systems that align to goal-setting and performance measurement Methods for growing the compensation pie to pay for excellent results Compensation as a Strategic Asset shows how to align mission, vision, values, strategy, leadership, goal-setting, performance management and compensation to achieve long-term success at your firm.
Book Synopsis Effective Human Resource Management by : Edward Lawler
Download or read book Effective Human Resource Management written by Edward Lawler and published by Stanford University Press. This book was released on 2012-07-04 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective Human Resource Management is the Center for Effective Organizations' (CEO) sixth report of a fifteen-year study of HR management in today's organizations. The only long-term analysis of its kind, this book compares the findings from CEO's earlier studies to new data collected in 2010. Edward E. Lawler III and John W. Boudreau measure how HR management is changing, paying particular attention to what creates a successful HR function—one that contributes to a strategic partnership and overall organizational effectiveness. Moreover, the book identifies best practices in areas such as the design of the HR organization and HR metrics. It clearly points out how the HR function can and should change to meet the future demands of a global and dynamic labor market. For the first time, the study features comparisons between U.S.-based firms and companies in China, Canada, Australia, the United Kingdom, and other European countries. With this new analysis, organizations can measure their HR organization against a worldwide sample, assessing their positioning in the global marketplace, while creating an international standard for HR management.
Book Synopsis Rebalancing Fixed and Variable Pay in a Sales Organization by : Pankaj M. Madhani
Download or read book Rebalancing Fixed and Variable Pay in a Sales Organization written by Pankaj M. Madhani and published by . This book was released on 2014 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The business cycle has a significant impact on the revenue and profitability of sales organizations and directly influences sales compensation costs. Operating leverage is a key variable affecting business performance during different stages of business cycle. Rebalancing fixed and variable pay in the compensation structure helps organizations in the effective management of operating leverage in business cycle stages. This article provides a framework for properly designing pay structure and determining how much pay should be fixed or variable, according to different stages of business cycle. It also explains the relationship between job challenges and compensation structures. By synchronizing sales force compensation structure with the business cycle, organizations can design optimal compensation strategies.
Download or read book Compensation written by Barry Gerhart and published by SAGE Publications. This book was released on 2003-05-02 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors artfully synthesize complex scholarly articles from economics, psychology, and sociology. The organization of the book is exceptionally transparent... Compensation should be accessible to a wide range of readers who appreciate a multidisciplinary perspective on organizational issues... I cannot emphasize enough how effectively Gerhart and Rynes discuss compensation thoughout this book. As an experienced academic researcher, I have already benefited tremendously from my first reading of the book . It is a must-read, and I recommend it without reservation to instructors, researchers, and students." --Industrial and Labor Relations Review "Gerhart and Rynes provide a thorough, comprehensive review of the vast literatures relevant to compensation. Their insights regarding the integration of economic, psychological, and management perspectives are particularly enlightening. This text provides an invaluable tool for those interested in advancing our understanding of compensation practices." --Alison Barber, Eli Broad College of Business, Michigan State University Compensation: Theory, Evidence, and Strategic Implications provides a comprehensive, research-based review of both the determinants and effects of compensation. Combining theory and research from a variety of disciplines, authors Barry Gerhart and Sara L. Rynes examine the three major compensation decisions–pay level, pay structure, and pay delivery systems. Revealing the impact of different compensation policies, this interdisciplinary volume examines The relationship between performance-based pay and intrinsic motivation Implications of individual pay differentials for team or unit performance The consequences of pay for performance policies Effect sizes and practical significance of compensation findings Directions for future research Compensation: Theory, Evidence, and Strategic Implications considers why organizations pay people the way they do and how various pay strategies influence the success of organizations. Critically evaluating areas where research is inconsistent with common beliefs, Gerhart and Rynes explore the motivational effects of compensation. Primarily intended for graduate students in human resource management, psychology, and organizational behavior courses, this book is also an invaluable reference for compensation management consultants and organizational development specialists.
Book Synopsis Realigning Fixed and Variable Pay in Sales Organizations by : Pankaj M. Madhani
Download or read book Realigning Fixed and Variable Pay in Sales Organizations written by Pankaj M. Madhani and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article explains the organizational life cycle, its impact on organization performance and role of an HR manager in effective compensation management. The stages in the life cycle are a key determinant of compensation strategies and their effectiveness in achieving organizational goals. The sales revenue, business risk and free cash flow of organizations change considerably during different stages of the organizational life cycle. Sales organizations must review, update and align their sales force compensation strategy in keeping with the organizational life cycle. Realigning fixed and variable pay in the compensation structure according to different stages of organizational life cycle will help organizations design an optimal compensation strategy for building competitive advantage.
Book Synopsis Impact of the Economic Cycle on WorkCover's Operations by : WorkCover New South Wales
Download or read book Impact of the Economic Cycle on WorkCover's Operations written by WorkCover New South Wales and published by . This book was released on 2009 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The impact of the economic cycle on the operation of the WorkCover Investment Fund (WCIF) is clearly evident, with Australian and global markets directly impacting investment performance. However, in WorkCover's other business areas, such as injury and illness prevention, injury management and providing an effective workers compensation system, the impact of the economic cycle is less direct, more complex and not as well understood."--Introduction.
Book Synopsis COMPENSATION MANAGEMENT: Rewarding Performance by : S.S. UPADHYAY
Download or read book COMPENSATION MANAGEMENT: Rewarding Performance written by S.S. UPADHYAY and published by Global India Publications. This book was released on 2009-12 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book outlines a new way of looking at rewards-a holistic approach that uses measurement to determine what an organization actually valuses (in terms of skills, knowledge, experience and behaviors).Further it analyzes the impact of the braod spectrum of reward programs (pay benefits and carrers) on human capital and, in turn, on an organization's profitability.It discusses variable pay programmes, competency models to employee reward, talent management for business optimization, compenation in Not-For-Profit Organizations, designing the annual management incentive plan etc.
Book Synopsis Managing Government Compensation and Employment - Institutions, Policies, and Reform Challenges by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Managing Government Compensation and Employment - Institutions, Policies, and Reform Challenges written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2016-08-04 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government compensation and employment policies are important for the efficient delivery of public services which are crucial for the functioning of economies and the general prosperity of societies. On average, spending on the wage bill absorbs around one-fifth of total spending. Cross-country variation in wage spending reflects, in part, national choices about the government’s role in priority sectors, as well as variations in the level of economic development and resource constraints.
Book Synopsis Compensation Management Complete Self-Assessment Guide by : Gerardus Blokdyk
Download or read book Compensation Management Complete Self-Assessment Guide written by Gerardus Blokdyk and published by Createspace Independent Publishing Platform. This book was released on 2017-05-27 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Effective Compensation management? How will the Compensation management team and the organization measure complete success of Compensation management? How to Secure Compensation management? What are your current levels and trends in key measures or indicators of Compensation management product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competi tors and other organizations with similar offerings? What would happen if Compensation management weren't done? Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role... In EVERY company, organization and department. Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?' For more than twenty years, The Art of Service's Self-Assessments empower people who can do just that - whether their title is marketer, entrepreneur, manager, salesperson, consultant, business process manager, executive assistant, IT Manager, CxO etc... - they are the people who rule the future. They are people who watch the process as it happens, and ask the right questions to make the process work better. This book is for managers, advisors, consultants, specialists, professionals and anyone interested in Compensation management assessment. Featuring 613 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Compensation management improvements can be made. In using the questions you will be better able to: - diagnose Compensation management projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices - implement evidence-based best practice strategies aligned with overall goals - integrate recent advances in Compensation management and process design strategies into practice according to best practice guidelines Using a Self-Assessment tool known as the Compensation management Scorecard, you will develop a clear picture of which Compensation management areas need attention. Included with your purchase of the book is the Compensation management Self-Assessment downloadable resource, containing all 613 questions and Self-Assessment areas of this book. This helps with ease of (re-)use and enables you to import the questions in your preferred Management or Survey Tool. Access instructions can be found in the book. You are free to use the Self-Assessment contents in your presentations and materials for customers without asking us - we are here to help. This Self-Assessment has been approved by The Art of Service as part of a lifelong learning and Self-Assessment program and as a component of maintenance of certification. Optional other Self-Assessments are available. For more information, visit http://theartofservice.com
Book Synopsis The WorldatWork Handbook of Total Rewards by : WorldatWork
Download or read book The WorldatWork Handbook of Total Rewards written by WorldatWork and published by John Wiley & Sons. This book was released on 2021-02-24 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equip yourself to manage, motivate, compensate, and reward everyone in this workplace revolution The future of work is here. From the shift to Millennials and Gen Z in the workforce to the advent of the Fourth Industrial Revolution and the Gig Economy, the world of work and rewards has significantly changed since the initial WorldatWork Handbook was published. Human resources and total rewards professionals need tools to equip them to manage a changing workforce. This completely revised second edition addresses the challenging and disruptive issues facing employers today and tomorrow. The WorldatWork Handbook of Total Rewards is the definitive authority on compensation and rewards from the leading global nonprofit organizations for professionals who are engaged in the critically important practice of total rewards. This book is a go-to resource for all business professionals and leaders who reward and create productive, committed and inspired workforces worldwide. Readers will learn the basics of rewards, along with a deep dive and high-level view of how rewards programs enable organizations to deliver on their brand promises and perform at their optimal level. Gain a thorough understanding of compensation and benefits, along with employee well-being, development, and recognition, all updated to address the realities of today’s workplace. Understand why the Millennial and Gen Z workforce requires a different value proposition, and how to meet their needs. Discover the tools and techniques you need to help you reskill and become a highly valued workforce contributor and leader in the digital era. Learn how to attract, retain, and engage talent by building a healthy workplace culture and employing unique incentives that drive high performance and loyalty. Technical enough for specialists but broad in scope for managers and HR generalists, this well-rounded resource belongs on the desk of anyone interested in organizational effectiveness. An indispensable tool for understanding and implementing the total rewards concept, The WorldatWork Handbook of Total Rewards, Second Edition is the key to designing programs and practices that ensure employee engagement and organizational success.
Book Synopsis Compensation and Organizational Performance by : Luis R. Gomez-Mejia
Download or read book Compensation and Organizational Performance written by Luis R. Gomez-Mejia and published by Routledge. This book was released on 2014-12-18 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.
Book Synopsis Compensation in Organizations by : Sara L. Rynes
Download or read book Compensation in Organizations written by Sara L. Rynes and published by Pfeiffer. This book was released on 2000-04-06 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Join the latest debate on the issues surrounding employment compensation. In Compensation and Organizations, a number of leading I/O psychologists and researchers explore the tremendous impact that recent changes in market conditions have had on today's compensation practices and outcomes. They delve into the effects that compensation has on employee performance, satisfaction, and attraction and retention, and examine the roles of pay strategy, pay risk, and the changing employment contract on pay packages and pay outcomes. They also offer nine general principles for constructing effective incentive systems. It's a broad-ranging work that summarizes the most important trends and conclusions in this important field and highlights areas in need of further research.
