Compensation - Softcover

Milkovich, George T.; Newman, Jerry M.

Softcover

ISBN 10: 0071123245 ISBN 13: 9780071123242

Publisher: McGraw-Hill Publishing Co., 2001

Synopsis

This is the market-leading text in this course area. It offers instructors current research material, indepth discussion of topics, integration of Internet coverage, a modern design, excellent pedagogy and a truly engaging writting style. The authors are viewed as leading authorities in the field of human resource management/compensation. They consult with leading businesses, have won teaching awards, and publish in the leading journals. Milkovich received a career contribution award from World at Work (formerly American Compensation Association) in 2000. The book examines the strategic choices in managing total compensation. The total compensation model introduced in chapter one serves as an integrating framework throughout the book. The authors discuss compensation issues in the context of current theory, research and real-business practices. The authors strive to differentiate between beliefs and facts, and opinions from scholarly research. Adopters tell us that students receive job offers based on the knowledge they get from this book.

About this title

From the Publisher:

Strong emphasis on total compensation extends throughout the entire book: in the strategy chapter (2), in the market survey chapters (7 & 8), and in the benefits and performance-based pay chapters. Why is this important? The business environment is more competitive. 'It is not only HOW MUCH you pay, but HOW you pay, that matters.' (i.e., not only base pay, but also work-life benefits, and variable pay and stock options that are tied to the performance of the individual and the company.)
Discussion of Compensation Strategies: how (and why) managers design a compensation strategy, how all compensation decisions are based on that strategy, and how these decisions impact competitive advantage and fair treatment for employees. This is important because it shows the integration of all decisions, highlights the reason for doing them, makes them consistent, and focuses on the results of decisions.
Discussion of up-to-date trends and practices: broad-based stock options, competency development, changes in market surveys, accessibility of pay data on the web, 'living wage', changes in compensations practices in Japan, China, Germany, and other countries.
Your Turn Exercise that shows students how to value stock options, using actual web site and stock price quotes!
Chapter 2 (Strategic Perspectives) tells how to craft a compensation strategy and examines the research and business practice on strategic perspectives applied to compensation. Emphasis on strategy carried throughout all chapters.
In each chapter, Internet Exercises called 'Cybercomps' help students learn where to find compensation material on the web.
The text contains an international chapter plus global examples throughout all chapters.
Real-life "Your Turn" Exercises ask the student to apply the concepts and techniques discussed in each chapter.
Casebook containing more extensive case and computer applications (eighth edition released August 2000) can be obtained directly from the authors by calling (607) 257 - 3859 or emailing gtm1@cornell.edu (that is a #1, not an "L"). Completing this integrated case will help students develop skills readily transferable to future job and assignments.
The total compensation model ,introduced in chapter one, provides an integrating framework that is used throughout the book. It introduces the strategic choices which confront managers in the U.S. and around the world.
Readers guide on how to be an informed consumer of compensation material.

About this edition

• Publisher: McGraw-Hill Publishing Co.
• Publication date: 2001
• ISBN 10: 0071123245
• ISBN 13: 9780071123242
• Binding: Paperback
• Number of pages: 672