The Compensation Solution: How to Develop an Employee-Driven Rewards System: 5 (J-B-UMBS Series) - Softcover

Tropman, John E.

Softcover

ISBN 10: 0787954012 ISBN 13: 9780787954017

Publisher: Jossey-Bass, 2001

Synopsis

Money isn't everything to today's employees. This book shows companies how to combine traditional compensation with the educational, emotional, and psychological benefits that will attract the best and brightest. It identifies the ten elements - including learning, advancement, emotional rewards, and quality of life - that job seekers rank highest among desired benefits. Then it shows employers how to combine them with monetary benefits to create effective, employee-driven compensation packages.

About this title

About the Author

JOHN E. TROPMAN is adjunct professor in the organizational behavior and human resources management program of the University of Michigan Business School and professor of social policy and nonprofit management at the University of Michigan School of Social Work.

From the Back Cover

Create a compensation system that offers your employees flexibility and choice The Compensation Solution is a practical guide that can help business and nonprofit leaders think outside the box and create a compensation system that offers innovative, flexible rewards for their employees. John Tropman? adjunct professor at the University of Michigan Business School?provides the vital information and ideas needed for any organization, regardless of size or mission, to develop a total compensation package that will attract and retain top-level employees. How many of the ten compensation variables does your company offer? Base pay: An employee's salary Augmented pay: A one-time payment that ranges in form from overtime to stock options Indirect pay: Traditional benefits such as health insurance and pension Works-pay: Company-provided resources that employees would otherwise have to purchase in order to do their job, such as cell phones, uniforms, laptop computers Perks-pay: Upgrades that leverage the employer's ability to enhance employee compensation and provide lifestyle enhancement for the employee Opportunity for advancement: Opportunities for employees to climb the corporate ladder Opportunity for growth: Firm-provided opportunities to learn and grow on the job Psychic income: Emotional satisfaction derived from the work and the workplace Quality of life: Balancing work and the rest of life X factor: Individual wants and needs that, with imagination, employers may be able to satisfy

From the Inside Flap

In their desire to satisfy employees, many organizations focus too narrowly on money as compensation. Of course money is an important factor, but employees?and prospective employees?are demanding more. Learning opportunities, advancement prospects, emotional rewards, and the ability to pursue a particular lifestyle are incentivies that are drawing today's top-level workers to forward- thinking organizations. Company leaders must retool their old pay systems and create new ones if they are to attract, motivate, and maintain a quality workforce. The Compensation Solution is a practical guide written for executives and managers who want to move their company from a traditional compensation system to an innovative rewards system. The Compensation Solution offers the information and tools needed to develop a total compensation package that addresses the varied needs and lifestyles of today's diverse workforce. Using this hands-on resource, organizations can create flexible, employee-driven compensation systems that allow employees to customize their individual compensation package. Based on ten compensation variables?base pay, augmented pay, indirect pay, works-pay, perks-pay, opportunity for advancement, opportunity for growth, psychic income, quality of life, and the X factor?The Compensation Solution hones complex concepts into easy-to-understand ideas that can be readily applied. In addition, the book is filled with helpful suggestions and specific guidelines that will help any organization, no matter how large or how small, develop a total compensation package that will become a magnet for exceptional employees. The Author John E. Tropman is adjunct professor in the organizational behavior and human resources management program of the University of Michigan Business School and professor of social policy and nonprofit management at the University of Michigan School of Social Work.

Edition details

• Publisher: Jossey-Bass
• Publication date: 2001
• ISBN 10: 0787954012
• ISBN 13: 9780787954017
• Binding: Paperback
• Language: English
• Edition number: 1
• Number of pages: 284