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Strategic Compensation: A Human Resource Management Approach, 9/e
book

Strategic Compensation: A Human Resource Management Approach, 9/e

by Joseph J. Martocchio
January 2016
Intermediate to advanced content levelIntermediate to advanced
480 pages
20h 58m
English
Pearson
Content preview from Strategic Compensation: A Human Resource Management Approach, 9/e

Designing Person-Focused Programs

  1. 4. Describe the essentials of person-focused pay program design.

As indicated in Chapters 3 and 4, merit pay and incentive pay represent job-based approaches to compensating employees. In Chapter 5, we discussed the importance of person-focused pay that many companies recognize. For this discussion, we use the terms knowledge and skills interchangeably, as the design features for both structures are virtually the same. In their purest form, person-focused programs reward employees for the acquisition of job-related knowledge (or skills, in the case of skill-based pay plans). In practice, companies are concerned with how much employees’ performance improves as a result of their newly acquired knowledge. Our focus ...

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Publisher Resources

ISBN: 9780134320540