People, Performance, & Pay Dynamic Compensation for Changing Organizations

by Flannery, Thomas P.; Hofrichter, David A.; Platten, Paul E.

• ISBN13: 9780743236539
• ISBN10: 074323653X
• Format: Paperback
• Copyright: 2002-01-15
• Publisher: Free Press

Summary

People, Performance, and Pay identifies today's four most common organizational work cultures - functional, process, time-based, and network - and explains how to align innovative pay policies with each. With examples from LEGO, Hallmark, Holiday Inn, and other leading organizations, the authors explain how to assess an organization's current culture and determine what its future culture should be. They then demonstrate pay's role in such change initiatives, and how compensation must be integrated with other human resource processes, such as selection, training, and performance management. They also discuss the full range of pay strategies available today and how they can be best used to move the organization forward; for example, they recommend decreasing an organization's emphasis on base pay as it shifts from a functional culture to a process, time-based, or network culture. They also offer guidance on establishing team rewards, especially important in process and team-based cultures, and make a compelling case for putting more pay at risk through variable pay strategies. Here also is strategic advice on competency-based pay, performance-based rewards such as gain-sharing, executive pay, and benefits programs. As responsibility for compensation strategies and compensation decisions shifts away from the realm of the Human Resource Department, line managers and senior executives will find People, Performance, and Pay an invaluable reference for effectively using salary, incentives, and benefits to motivate and reward employees, improve quality, and increase productivity.

Author Biography

Thomas P. Flannery is a co-author of People, Performance, & Pay.

David A. Hofricthter is a co-author of People, Performance, & Pay.

Paul Platten is a co-author of People, Performance, & Pay.

Table of Contents

Foreword	ix
Robert D. Krebs
Preface	xiii
The Compensation Lag	1	(22)
Work Cultures	23	(34)
The Role of Pay in Organizational Change	57	(24)
Dynamic Compensation Strategies and Tactics	81	(42)
Aligning Cultures and Compensation	123	(22)
Benefits in the Changing Organization	145	(22)
Rewarding Leadership in the Changing Organization	167	(20)
Reconsidering Executive Pay	187	(18)
Pay and the Changing Role of Human Resources	205	(22)
Communicating Pay	227	(20)
Nine Principles of Dynamic Pay	247	(4)
Epilogue: Paying for People	251	(4)
Notes	255	(6)
Index	261