By Howard Risher
Confirmed pay-for-performance strategies from a few of the country's top repayment specialists. Measuring functionality is now regular process in any respect degrees of industrial. however the normal extension--linking functionality to reimbursement for each employee--is merely commencing to be well-known as a worthy method for persevered organizational good fortune. With a breadth of workmanship unavailable in the other resource, this ebook bargains insights from fourteen sought after repayment experts. They talk about such issues as: * constructing and fitting incentive plans for all staff * speaking alterations in repayment courses * designing incentive plans round new functionality techniques just like the Balanced Scorecard and financial worth * govt reimbursement * workforce incentives and team-based pay.
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Extra info for Aligning Pay and Results: Compensation Strategies That Work from the Boardroom to the Shop Floor
Compensation planning focused on creating programs for the small group of professional managers and executives who replaced the entrepreneur founders. The goal was to create incentives to make these corporate leaders act as though they were owners. That philosophy stands in direct contrast to the new work paradigm with its emphasis on worker empowerment. Now we recognize that people at all levels can and should be expected to play a bigger role in achieving organizational goals. We also understand that the old "us-versus-them" mind-set is an impediment to the improvement that all corporations need.
Moreover, more than a few evaluation systems rely on budget responsibility or staff size to determine a job's valueat a time when a goal of almost every organization is to reduce budgets and staff size! All of this is commonly controlled by "personnel police," who spend a lot of time arguing with managers and job incumbents about why their claims that a job should have a higher salary are not valid. These programs were conceived in the 1930s and the changes since then have been minor. The NMTA job evaluation is still important.
Chapter 8, by Marc Wallace and Fred Crandall, cofounders of the Center for Workforce Effectiveness, looks at competency-based and skill-based pay as incentives for employees to enhance their competence and add new skills. With both concepts, the focus of base pay management shifts from the value of the job to the value of the individual. Page xi Section III explores the new ideas in the use of incentives for employees below the executive level. The experience with these plans represents a new direction for industry and one of the most important trends in the management of people.
Aligning Pay and Results: Compensation Strategies That Work from the Boardroom to the Shop Floor by Howard Risher