1st Edition
Compensation and Organizational Performance Theory, Research, and Practice
384 Pages
by
Routledge
408 Pages
by
Routledge
384 Pages
by
Routledge
Also available as eBook on:
This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It... Read more
Preface; 1. Compensation as an Evolving Field: Past, Present, and Future; Origins in Industrial/Organizational Psychology; Practitioner Roots; Job Evaluation and Internal Pay Structures; Criticisms of Traditional Models; Philosophy of This Book; 2. Repertoire of Strategic Pay Choices; Criteria Used to Distribute Rewards; Assembling the Compensation Package; Administering the Compensation System; A Holistic Approach to Linking Compensation Choices and Business Strategy; Summary; 3. Pay Choices and Organizational Strategies as an Interrelated Set of Decisions; Internally Consistent Pay Strategies; Multilevel Organizational Strategies; Overarching Strategic Compensation Patterns and Corporate Strategy; Overarching Strategic Compensation Patterns and Business Unit Strategies; Theoretical Propositions; Policy Implications and a Research Agenda for the Future; Summary. Appendix 3.1. A Profile of Compensation Strategies Associated with Various Corporate Strategies; Appendix 3.2. A Profile of Compensation Strategies Associated with Various Business Unit Strategies; 4. Executive Compensation: Theoretical Foundations; Interdisciplinary Conceptual Roots; Marginal Productivity Theory; Governance Theories; The Behavioral Agency Model; Institutional Theory; Structural Theory; Human Capital Theory; Executive Pay as Symbolism; Pay Dispersion Theory; Self-selection Theory; Summary; 5. Determinants and Consequences of Executive Pay; Role of Executives in Influencing Firm Performance; Why the Evidence on Executive Pay Is So Mixed as We Approach Nine; Decades of Research; What We Know So Far about Executive Pay; Summary; 6. Policy Choices, Strategic Design of Executive Compensation Programs, and Implementation; Dilemmas Confronting Designers of Executive Pay Packages; Elements of the Executive Compensation Package and Strategic Implications; Summary; 7. Risk and Executive Pay; The Concepts of Risk; Theoretical Perspectives of Risk; Compensation and Risk Research; Summary; 8. Corporate Social Performance: An Alternative Criteria for the Design of Executive Compensation Programs; Social Criteria as Part of Executive Pay; Corporate Social Performance as an Alternative Approach; Issues in Rewarding Social Responsibility at Top; Summary; 9. Measuring Performance at Different Levels of the Organization; The Measurement of Performance: Preliminary Thoughts; Why Organizations Measure Performance; Performance Measurement Issues; The Conflicting Roles of Performance Measures; Performance Measures Specifications; The Choice of Performance Measures; Summary; 10. Managing Pay for Performance Systems; Why Performance Contingent Pay May Be Counterproductive; Navigating Treacherous "Pay for Performance" Waters; Rewarding Individual Performance; Rewarding Team Performance; Rewarding Organizational Performance; Efficiency-Based Pay Policies; Profit-Based Pay Policies; Multicriteria-based Pay Policies; Summary; References; Index; About the Authors.
Biography
Luis R. Gomez-Mejia, Pascual Berrone, Monica Franco-Santos
