Cover image for Solving the Compensation Puzzle : Putting Together a Complete Pay and Performance System.
Solving the Compensation Puzzle : Putting Together a Complete Pay and Performance System.
Title:
Solving the Compensation Puzzle : Putting Together a Complete Pay and Performance System.
Author:
Koss, Sharon K.
ISBN:
9781586441708
Personal Author:
Physical Description:
1 online resource (252 pages)
Contents:
Copyright -- Contents -- Preface and Acknowledgements -- Introduction: A Step-by-Step Guide to Designing a Pay-for-Performance System -- What Is in This Book? -- What Is Not in This Book? -- Chapter 1 A Historical Look at Pay for Performance -- Major Labor Market Trends -- Workforce Trends: Generations Working Side by Side -- Multicultural Issues -- No Middle Class-The Haves vs. The Have Nots -- Now What? -- Chapter 2 Is Pay for Performance Worth the Trouble? -- Components of a Successful Pay-for-Performance System -- Organizational Metrics to Gauge Readiness for a Pay-for-Performance Plan -- Myths and Facts About Merit Pay -- Best Practices in Pay for Performance -- Public Sector and Non-Profit Organizations -- Real-Life Example: A Tale of Two Cities: The Importance of Top Management Support -- Compensation Boot Camp: Concepts and Definitions -- Sanity Suggestions -- Chapter 3 Compensation's Role in Human Resource Strategy -- Engaging Key Stakeholders to Support the Compensation Strategy -- The Payoff of a Pay-for-Performance Compensation Strategy -- Important Considerations in Designing a Compensation Strategy -- Goals for the Pay-for-Performance System -- 12 Steps for Designing a Pay-for-Performance System -- How to Conduct a Successful Employee Survey -- Real-Life Example: The Case Study of the Dog Shelter Where Its Bark Was Worse than Its Bite -- Compensation Boot Camp: Concepts and Definitions -- Sanity Suggestions -- Chapter 4 The Pay-for-Performance Foundation -- The 500-Foot View: Where Are We Going? -- Sticky Design Issues -- What Are the Best Resources? -- When Is an Employee Design Team Not Appropriate? -- Compensation Policy Decisions -- Pay Secrecy in Private-Sector Companies -- The Case of Pay Secrecy: The Need-to-Know Theory -- What Is Salary Compression? -- Can Pay Compression Be Resolved?.

Managing Pay for Performance in Financial Downturns -- Create a Three-Year Strategic Plan for Compensation and Benefits -- Transformational vs. Transactional Upgrades -- Real-Life Example: Swimming with the Sharks -- Compensation Boot Camp: Concepts and Definitions -- Sanity Suggestions -- Chapter 5 How to Write a Job Description -- Common Uses for a Job Description -- Simplifying the Process of Writing Job Descriptions -- Enhancing the Quality of Job Descriptions -- Gathering Job Description Information -- Tips for Writing Job Descriptions -- Suggestions for the Supervisor Review Process -- Common Issues that Arise During the Supervisor Review -- The Necessity of Management Approval -- Editing the Job Description: The Final Check -- The FLSA Puzzle: Is the Position Non-Exempt or Exempt? -- Job Descriptions and the Americans with Disabilities Act (ADA) -- How to Keep Job Descriptions Up-to-Date -- Employee Job Description Input Form -- Real-Life Example: The Case of the Fishing Company Managers Who Hated Paperwork -- Tips and Takeaways -- Compensation Boot Camp: Job Description Terms and Job Analysis Methods -- Sanity Suggestions -- Chapter 6 Make Sure Employees Are in the Right Salary Range -- External Equity-The Market Study -- How to Prepare for a Market Study -- Major Sources of Salary Information -- How to Make the Salary Survey Decision -- How to Use Salary Survey Information -- How to Match the Organization's Jobs to Its Pay Surveys -- Market Survey Tips -- Matching Jobs Like a Compensation Professional -- Example -- Quality Assurance: The Critical Last Step -- Make Sure the Salary Plan Fits the Organization -- Internal Equity Challenges -- Real-Life Examples: The Case of the Complex Collection -- The Case of the Difficult Blood Draw -- The Case of the Life-Saving Social Worker -- Steps for Completing an Internal Equity Review -- Job Ranking.

Real-Life Example -- Point-Factor Internal Equity System -- Point-Factor System Advantages and Disadvantages -- Steps for Designing a Point-Factor System -- How to Create Salary Grades -- Pay Range Widths: What Do You Need to Know? -- Progression Between Salary Grades -- Real Life-Examples: The Case of a Nice Title, But No Raise -- The Tale of the Housekeeper vs. Janitor Market Pay -- The Case of the Mysteriously Underpaid Tech Support Department -- Compensation Boot Camp: Terms: Market Study -- Sanity Suggestions -- Chapter 7 Performance Appraisal: An Essential Step to Pay for Performance -- Where Do We Stand? -- What Is the Bottom Line? -- Coaching-A Unique Opportunity to Change an Employee's Life -- Real-Life Examples: The Case of the 20-Something Employee -- The Case of the Drinking Employee -- Steps for Making the Final Link to Pay for Performance -- Real-Life Examples: The Case of the "Drive-thru Performance Appraisal" -- The Once-in-a-Lifetime Thank-You -- Sanity Suggestions -- Chapter 8 How to Design, Update and Maintain the New Compensation System -- How to Update a Salary Plan for New Jobs -- Real-Life Example: The Case of the Manager's Clever Work Around for More Employee Pay -- Salary and Benefit Information as Part of the Annual Budgeting Process -- Compa-ratio Examples -- Administration of the New Compensation System -- Promotional Adjustments -- Approvals of Compensation Decisions -- Maintaining the Pay-for-Performance Link in Hard Times -- Real-Life Example: The Case of the Employees in the Wrong Place -- Compensation Boot Camp: Compensation Administration Terms -- Sanity Suggestions -- Next Steps -- Figures -- Figure 1 Key Stakeholders of a Pay System -- Figure 2 Market Position Choices -- Figure 3 Pay Policies: Advantages and Disadvantages -- Figure 4 Roles for Employee Compensation Committee.

Figure 5 Work Plan for a Small Company in a Mid-size City -- Figure 6 Salary Survey Market Data Choices -- Figure 7 Relevant Labor Market -- Figure 8 Three Major Types of Salary Survey Choices -- Figure 9 Suggested Annual Salary Increase Guidelines for FY 2009 -- Figure 10 Compensation Forecasting & Budgeting Process -- Tools -- Tool 1

HOW DO I GET STARTED ON THE PA? -- Delivery of Performance Appraisals -- WHEN THE PA DOESN'T GO WELL….. -- HONEST FEEDBACK IS A GIFT! -- Compensation Survey -- 12-Step Process (Update) -- WHAT IS AN ORGANIZATION'S MOST EXPENSIVE BENEFIT? -- WHAT % OF PAY DO BENEFITS COVER?* -- KOSS SOFTWARE Compensation Philosophy -- Researching Data -- Establishing Grades -- Example: STAR Limo Driver -- Slotting of Job Classifications -- BOARD OF DIRECTOR APPROVAL -- Green Circle / Red Circle -- Budget Impact to Date -- Next Steps -- Want More Money? -- Supervisor/Individual Employee Meetings -- Goals of Compensation Survey: -- TOTAL COMPENSATION WAS ALSO CAREFULLY STUDIED -- HOW MANY TIMES DO YOU NEED TO HEAR IT BEFORE YOU LEARN IT? -- WHAT IS THE ATTENTION SPAN OF AN ADULT LEARNER? -- Questions/Answers/Comments.
Abstract:
Whether creating a new system or filling in the gaps in an established business, this resource acts as a practical tool for dealing with compensation in the workplace. Linking pay and performance, this guidebook demonstrates how to improve a salary administration program and includes facts sheets, templates, and sample forms that can be customized to meet each organization's unique requirements.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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