Publisher's Synopsis
This leading introductory text equips students with a solid understanding of the theories, concepts, and principles behind compensation decision-making. The new edition includes very detailed procedures in implementation of compensation practices. Features: * A strong emphasis on labour economics includes an entire chapter devoted to labour markets and labour unions. * Chapter 5 "The Legal Environment" emphasises current legal issues impacting compensation. * Chapter 6 "Compensation Decision Making: A Strategic Perspective" includes coverage of human resource deployment in a global environment. * Chapters 8 and 9 take students step-by-step through the evaluation and job pricing structure. * The text illustrates the importance of understanding the decision-making constraints under which compensation decisions are made and suggests ways to reach the most rational decision. * The text features comprehensive coverage of institutional factors that impact compensation, internal labour markets, economic wage theory, and compensation strategy. * Strategic issues and applications are integrated throughout the text to encourage students to think about the theories they are learning.;* Chapters open with learning objectives, highlight key words, and close with thought-provoking discussion questions that prompt student involvement in lively classroom dialogue. New to this edition: * An expanded Chapter 13 "Employee Benefits" features more discussions of key issues in benefit design and administration. * Chapter 15 "Special Compensation Situations" has been expanded to provide more details on the practices of real-world organizations, along with insightful discussions into emerging and growing areas of compensation, including team compensation, merit cash, golden parachutes, two-tier plans, and cultural influences.
