Introduction Part One Essentials of reward and performance management
01 An overview of reward management
Introduction
Reward management defined
Aims of reward management
Reward philosophy
Guiding principles
The reward system
Reward systems in action
Contextual factors affecting reward
Developments in reward management
References
02 Performance management
Introduction
Characteristics of performance management
Principles of performance management
The performance management cycle
Performance and development agreements
Performance planning
Managing performance throughout the year
Reviewing performance
Assessing performance
Recording the performance agreement and review
Web-enabled performance management
Performance management as a rewarding process
Impact of performance management on performance
Line managers and performance management
Case studies
References
03 Performance and reward
Introduction
The meaning of performance
Influences on performance
How does reward impact on performance?
Impact of reward on organizational performance
References
04 Motivation and reward
Introduction
The process of motivation
Types of motivation
Instrumentality theory
Reinforcement theory
Content (needs) theory
Process theory
How motivation theories affect reward management
References
05 Engagement and reward
Introduction
Why engagement is important
The factors that influence engagement
Enhancing engagement
Developing engagement policies through reward
Conclusion
References
06 Talent management and reward
Introduction
Talent management
The contribution of reward and performance management to talent management
References
07 Financial rewards
Introduction
Incentives and rewards
The theoretical framework
The role of money
Views about the importance of pay
Research on the effectiveness of financial rewards
Arguments for and against financial rewards
Criteria for effectiveness
References
08 Non-financial rewards
Introduction
The significance of non-financial rewards
Types of non-financial rewards
Individual extrinsic rewards
Individual intrinsic rewards
Collective extrinsic rewards
Collective intrinsic rewards
References
09 Total rewards
Introduction
Total rewards defined
The elements of total rewards
The significance of total rewards
Benefits of total rewards
Models of total rewards
Introducing total rewards
Total rewards in practice
Conclusion
References
10 International reward
Introduction
The international scene
International reward strategy
Guiding principles for international reward
Rewards for expatriates
References
11 The ethical approach to reward and performance management
Introduction
Ethical decisions in reward and performance management
Why is an ethical approach desirable?
Fairness?139 Treating people justly
Resolving ethical dilemmas
The ethical role of reward professionals
An ethical code of practice for reward and performance management
References
12 Strategic reward
Introduction
Strategic reward defined
The characteristics of strategic reward
Critical evaluation of the concept of strategic reward
Reward strategy
Case studies
References
Part Two Base pay management
13 Introduction to base pay management
Introduction
Base pay
Base pay management
Factors affecting pay levels - the conceptual framework
Pay determination within organizations
Summary of factors affecting pay levels
Managing pay
Base pay management and performance
References
14 Job evaluation
Introduction
Job evaluation defined
Aims of job evaluation
Achieving the aims
Formal job evaluation
Informal job evaluation
Analytical job evaluation schemes
Non-analytical schemes
Market pricing
Levelling
Job analysis for job evaluation
Computer-aided job evaluation
Choice of approach to job evaluation
Developing a point-factor job evaluation scheme
Implement job evaluation
Ensuring that the scheme is unbiased
References
15 Market rate analysis
Introduction
Aims of market analysis
The concept of a market rate
Job matching
Use of benchmark jobs
Sources of market data
Interpreting and presenting market rate data
Using survey data
16 Grade and pay structures
Introduction
Grade structures
Pay structures
Guiding principles for grade and pay structures
Multi-graded structures
Broad-graded structures
Broad-banded structures
Career-family structures
Job-family structures
Combined career-/job-family and broad-banded structures
Pay spines
Unstructured pay systems
Spot rates
Individual job grades
Choice of grade and pay structures
Developing a grade and pay structure
Career-family structure design
Minimizing bias in grade and pay structure design
References
17 Equal pay
Introduction
Reasons for unequal pay
The Equality Act 2010
Defending an equal pay claim
Achieving equal pay
Risk assessment
References
Part Three Rewarding and recognizing performance
18 Merit pay
Introduction
Characteristics of merit pay
Method of operation
Performance-related pay
Competency-related pay
Contribution-related pay
Overall conclusions on merit pay
Developing merit pay schemes
References
19 Bonus schemes
Introduction
Bonus schemes defined
Aims of bonus schemes
Rationale for bonus schemes
Criteria for a bonus scheme
Types of scheme
Designing a bonus scheme
Introducing a bonus scheme
Earn-back pay
Bonus schemes and performance
References
20 Team pay
Introduction
Team pay defined
Aim of team pay
Rationale for team pay
How team pay works
Requirements for team pay
Advantages and disadvantages of team pay
Developing team pay
NHS case study
References
21 Rewarding for business performance
Introduction
Types of schemes
Aims
Profit-sharing
Share ownership schemes
Save-as-you-earn schemes
Gain-sharing
References
22 Recognition
Introduction
Recognition schemes defined
Benefits of recognition schemes
Principles of recognition
Types of recognition
Examples of non-cash awards
Designing a recognition scheme
Examples of recognition schemes
Part Four Rewarding special groups
23 Executive reward
Introduction
Executive pay levels
Factors affecting the level and nature of executive rewards
Why has executive pay grown so much?
Corporate governance and executive remuneration
The elements of executive remuneration
References
24 Rewarding sales and customer service staff
Introduction
Rewarding sales representatives
Rewarding customer service staff
References
25 Rewarding knowledge workers
Introduction
What motivates knowledge workers?
Approaches to rewarding knowledge workers
References
26 Rewarding manual workers
Introduction
Factors affecting the pay of manual workers
Time rates
Pay structures
Incentive schemes for manual workers
Payment by results schemes
Collective schemes
Summary of schemes
Single status and harmonization
References
Part 5 Employee benefits
27 Employee pensions and benefits
Introduction
Rationale for employee benefits
Employee benefit strategies and policies
Types of benefit
Incidence of benefits
Choice of benefits
Administering employee benefits
Total reward statements
References
28 Flexible benefits
Introduction
Reasons for introducing flexible benefits
Types of flexible benefits schemes
Introducing flexible benefits
References
Part Six The practice of reward management
29 Evidence-based reward management
Introduction
Evidence-based management
Evidence-based reward management
Reviewing reward
Measuring reward
Evaluating reward
Conclusions
References
30 Developing reward systems
Introduction
The task of developing and implementing reward systems
Objective setting
The process of development and implementation
The development and implementation programme
Advice from practitioners (e-reward)
References
31 Managing reward systems
Introduction
Reward policies
Controlling reward
Monitoring and evaluating reward policies and practices
Conducting pay reviews
General reviews
Individual reviews
Reward procedures
The use of computers in reward management
Communicating to employees
References
32 Managing reward risk
Introduction
Risk management
Reward management risks
The risk management process
References
33 Responsibility for reward
Introduction
The role of the reward professional
Role of line managers
Using reward consultants
References
Index