book

Reward Management, 5th Edition

Name: Reward Management, 5th Edition
ISBN: 9781398612907

by Sarah Jones, Stephen J Perkins

February 2024

Intermediate to advanced

512 pages

18h 32m

English

CIPD - Kogan Page

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Cover
Halftitlepage
Titlepage
Contents
List of figures
List of tables
Book plan
CIPD qualifications map
Foreword
Walkthrough of textbook features and online resources

PART ONE
01 Introduction: Reward management systems
1.1 Reward management ideas and practices1.2 Employee reward levels vs ‘labour costs’1.3 Situating reward management systemically1.4 Rewarding the employment relationship1.5 Influences on employee reward thinking1.6 Reward and the employer–employee relationship1.7 Orientations towards employees1.8 A few words on our tripartite taxonomy1.9 Conclusions and key learning points1.10 Overview of the book
02 Conceptual and theoretical frameworks
2.1 Introduction2.2 The importance of theory in reward management2.3 Managing the effort bargain - theoretical pillars2.4 Labour market theory2.5 Alternative economic theories of reward management2.6 Human capital theory2.7 Efficiency wage theory2.8 Principal–agent theory2.9 Internal labour markets2.10 Wage-gap (or union mark-up) theory2.11 Criticism of neo-institutionalist arguments2.12 Tournament theory and winner-take-all regimes2.13 Alternative perspectives on employee motivation and reward2.14 Definitions of motivation2.15 Instincts, learned behaviours and expectancy2.16 The psychological contract and reward2.17 Individuals, institutions and strategic alignment2.18 Conclusions and key learning points
03 The context of reward management: Legal frameworks, market conditions and employment relations
3.1 Introduction3.2 Legal regulation of reward systems3.3 The impact of the labour market3.4 Collective bargaining3.5 Conclusions and key learning points
PART TWO
04 Base pay structures and relationships
4.1 Introduction4.2 Grading structures4.3 The historical development of grading structures4.4 Pay structures and equal pay for work of equal value4.5 The objectives of grading structures4.6 Types of pay structure4.7 Job evaluation4.8 The development of job evaluation4.9 The critique of job evaluation4.10 The types of job evaluation4.11 The prevalence of job evaluation in the UK4.12 Choosing a job evaluation scheme4.13 Aligning pay with the market4.14 Market benchmarking4.15 Equal pay reviews4.16 Conclusions and key learning points
05 Pay-setting, composition and progression
5.1 Introduction5.2 Wages or salary systems?5.3 Pay contingencies – job, person, performance5.4 Pay for time, performance or output?5.5 Pay progression and equal pay issues5.6 Service- or seniority-based pay5.7 Age-related pay5.8 Individual performance-related pay (PRP)5.9 Competency-based pay5.10 Skills-based pay5.11 Market-based pay5.12 Pay for contribution5.13 Compensatory payments5.14 Conclusions and key learning points
06 Variable and contingent pay schemes
6.1 Introduction6.2 Some key concepts6.3 The dimensions of variable pay6.4 Individual variable pay6.5 Team-based variable pay6.6 Collective short-term variable pay6.7 Collective long-term variable pay and employee ownership6.8 The incidence of variable pay6.9 Conclusions and key learning points
PART THREE
07 Benefits
7.1 Introduction7.2 An absence of theory7.3 The growth of employee benefits7.4 Typologies of employee benefits7.5 Employee attitudes to benefits7.6 Benefits policies and decisions7.7 Benefits provisions in the UK7.8 Flexible benefits7.9 Voluntary and discount benefits7.10 Benefits communication7.11 Conclusions and key learning points
08 Pensions
8.1 Introduction8.2 The origins and development of UK pension schemes8.3 UK workplace pension schemes today8.4 The UK State Pension scheme8.5 Why do employers provide pension schemes?8.6 Categories of pension scheme8.7 Tax treatment of pensions8.8 Comparing main pension scheme types8.9 Retirement and pension age8.10 Equality issues8.11 The major pension scheme benefits8.12 The role of HR in pensions8.13 Reasons for the dramatic shift in workplace pensions provision8.14 Auto-enrolment8.15 Conclusions and key learning points
09 Non-financial and total reward
9.1 Introduction9.2 Defining total reward9.3 A high-investment employment experience9.4 Unpacking the total reward employment experience9.5 Total reward: Greater than the sum of its parts?9.6 Conclusions and key learning points
PART FOUR
10 Rewarding directors and executives
10.1 Introduction: Context for rewarding directors and executives10.2 What do executives earn, how does it compare with other employees, and what are the arguments for and against?10.3 So much for substance: What about the process?10.4 Institutional and regulatory controls on executive reward10.5 Theorising executive reward: Contested terrain10.6 Designing and reporting on executive reward10.7 Executive reward compliance/disclosure issues10.8 Behind what is in the portfolio10.9 The reward specialist’s role in executive reward management10.10 Executive reward in the public sector10.11 Conclusions and key learning points
11 International reward management
11.1 Introduction11.2 Rewarding expatriation – rewarding multi-local talent11.3 Convergent transnational capital power – divergent business systems11.4 Not for profits alone11.5 Multinational contexts for employee reward management11.6 Choices for multinational management and their reward consequences11.7 Factors and trends in rewarding expatriated knowledge mobilisation11.8 Defining expatriates11.9 Expatriate assignments11.10 Accounting for expatriation reward management11.11 HR role: Scope for tension with the line11.12 Factors and trends in rewarding non-expatriated knowledge mobilisation11.13 Strategy, dominant logic and opportunism11.14 Conclusions and key learning points
12 Strategic reward management within HRM
12.1 Introduction12.2 Defining HRM12.3 Strategy perspectives and employee reward choices12.4 Strategy contested12.5 Strategic reward (‘the new pay’): Advocates and critics12.6 Actors and their roles in reward management under the HRM rubric12.7 Conclusions and key learning points
References
Index
Endmatter
Copyright

Content preview from Reward Management, 5th Edition

FOREWORD BY CHARLES COTTON, SENIOR REWARD AND PERFORMANCE ADVISER, CIPD

It would be fair to say that a lot has happened since my foreword for the fourth edition of this book was published back in January 2020. In the UK, workplaces have been buffeted by such events as Brexit, the global pandemic, the shift to hybrid working, the cost-of-living crisis, so-called culture wars and the healthcare crisis. But what have been the responses in terms of pay and benefits, and will these responses last or fade away?

And what about the future? For instance, how will generative AI shape the world of work, and how will it influence what reward professionals do? Given that my previous foreword only mentioned one of these events, I’ll refrain from making predictions ...

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Reward Management, 5th Edition

by Sarah Jones, Stephen J Perkins

FOREWORD BY CHARLES COTTON, SENIOR REWARD AND PERFORMANCE ADVISER, CIPD

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.