Publisher's Synopsis
Designed as an introduction to the field of compensation administration with an emphasis on theory, managerial decision-making, and applications. Features: * Discusses the importance of understanding the decision-making constraints under which compensation decisions are make and suggests ways to come to the most rational decision. * Includes outstanding coverage of institutional factors that impact compensation, internal labour markets, economic wage theory and compensation strategy. * Strategic issues and applications are integrated throughout the chapters to encourage students to think about the theories they are learning. * Chapters 8 and 9 actually show students how to do the evaluation and price the job structure. * Chapter 15 deals with special situations regarding compensation, including executive pay, international pay, Board of Directors pay and two-tier pay systems. * Discussion questions and exercises generate student discussion and involvement. New to this edition: * A new Introduction, filled with discussions of popular and current issues surrounding compensation, catches the attention of today's students.;* Updated Chapter 5 reports all the latest legal developments affecting compensation. * New chapters on strategy and alternative pay systems have been added. * Part I focuses on the techniques used in compensation and their theoretical bases.
