Strategic compensation and talent management: lessons for managers
"Gaining and sustaining competitive advantage requires that managers understand how to use compensation strategically to attract, manage, and retain their organization's talent. This book will help you to develop and refine that understanding, equipping you to think in a sophisticated way...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York
Cambridge University Press
2020
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "Gaining and sustaining competitive advantage requires that managers understand how to use compensation strategically to attract, manage, and retain their organization's talent. This book will help you to develop and refine that understanding, equipping you to think in a sophisticated way about compensation, to recognize the implications of compensation systems for employee behavior, and to use compensation to solve problems and achieve business objectives in your current or future organization"-- |
| Beschreibung: | Includes index |
| Beschreibung: | xxv, 379 Seiten Illustrationen |
| ISBN: | 9781108495202 9781108817431 |
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| adam_text | Contents v. Acronyms Preface Case Discussions 1 2 Introduction 1 1.1 What Is Compensation? 1.2 What Is “Strategic” Compensation? 1.3 What Is Talent Management? 1.4 What Is Your Organization’s Objective? 1.5 Who Cares about Compensation? 1.6 Who Receives Compensation, and Who Doesn’t? 1.7 How Does Compensation Relate to Incentives and Productivity? 1.8 Four Recurring Themes 1.9 What Constitutes “Fair” Compensation? 1.10 Secrecy versus Full Disclosure of Compensation 1.11 Lessons for Managers Appendix: Nominal versus Real Compensation Case Discussion 1 : Buffer, Inc. Further Reading 1 3 3 4 5 5 7 7 8 9 11 13 20 22 Compensation Contract Failure and Wage Theft 23 23 24 25 27 29 32 32 35 2.1 Compensation Contract Failure and Wage Theft 2.2 Timing of Compensation 2.3 Solutions to the Wage-Theft Problem 2.4 Do Laws Prohibiting Wage Theft Increase Workers’Pay? 2.5 Cuts in Nominal and Real Monetary Compensation 2.6 Lessons for Managers Case Discussion 30: Weaver v. Legend Senior Living, LLC Further Reading 3 page xv xix xxiv Compensating Differentials 3.1 Compensating Differentials: a Definition 3.2 Mobility and Information 3.3 Work Environment and Compensating Differentials 36 37 37 38
Contents x 3.4 The Marginal Worker 3.4.1 Comparison to Swing Voters in an Election 3.4.2 Identifying the Marginal Worker 3.4.3 Further Describing the Marginal Worker 3.4.4 Changing the Compensation Levels Might Change the Marginal Worker 3.5 Marginal Worker(s) and the Size of the Market Wage Differential 3.5.1 Explanation 1 3.5.2 Explanation 2 3.5.3 Comparing Explanations 1 and 2 3.5.4 Relative Demand for Labor in Both Cities 3.6 Another Example: CSUEB versus CSUSF 3.6.1 Relative Demand for Professors Is the Same in Both Locations 3.6.2 Relative Demand for Professors Differs betweenthe Two Locations 3.7 Lessons for Managers Case Discussion 3 : The Deadliest Catch Further Reading 4 External Constraints on Pay 4.1 4.2 4.3 4.4 4.5 Wage Theft: a Reprise What’s the Purpose of Labor Law? Compensation Constraints and “the 3 Cs” What Are the Main Types of Labor Law? Protections against Employment Discrimination 4.5.1 Age Discrimination in Employment Act (ADEA) 4.6 Wage (or Salary) and Hours Regulations 4.6.1 Fair Labor Standards Act of 1938 (FLSA) 4.6.2 Prevailing Wages, Living Wages, and Related Legislation 4.6.3 Family and Medical Leave Act of 1993 (FMLA) 4.7 Compensation Floors and Ceilings 4.7.1 Wage Floors 4.7.2 Do Wage Floors Help Workers? 4.7.3 Nominal versus Real Minimum Wages 4.7.4 Wage Ceilings 4.7.5 Floors and Ceilings in Non-Monetary Components of Compensation 4.7.6 Example: Floors in Paid Time Off 4.8 “Hard” versus “Soft” Constraints 4.9 Lessons for Managers Case Discussion 28: The Walrus and the Carpenter Further Reading 39 39 40 41 42 43 43 44 45 46 47 48 49 50 51 52
54 54 56 61 64 65 67 70 70 71 73 75 75 77 79 80 81 82 84 85 87 89
Contents 5 6 7 5.1 Internal Constraints: an Example 5.2 Internal Constraints and “the 3 Cs” 5.3 Unions and Union Contracts 5.4 Unions and Compensation Levels 5.5 Diverse Preferences of Union Members 5.6 Compensation Dispersion 5.7 Compensation Floors and Ceilings 5.8 Other Internal Constraints 5.9 Lessons for Managers Case Discussion 6: CSUEB CBE Further Reading 91 91 92 93 94 95 96 98 99 100 103 105 Compensation Analytics I 107 6.1 What Types of Questions Can You Address Using Compensation Analytics? 6.2 Acquiring Data 6.3 Cleaning Data 6.4 Regression and Data Analysis 6.4.1 Variables (i.e., the Data) 6.4.2 Parameters (or Regression Coefficients) 6.4.3 Error Term 6.5 Levels or Logs? 6.6 Precision 6.7 Lessons for Managers Appendix: Nonlinear Relationships among Variables in a Regression Case Discussion 7: Wage-Insurance Tradeoff (Part A) Further Reading 108 109 112 120 120 123 127 129 132 134 135 139 141 Internal Constraints on Pay Compensation Analytics II 7.1 Application: Gender Differences in Pay in the Sciences 7.2 Exploratory Data Mining, Causality, and Experiments 7.3 Lessons for Managers Case Discussion 8: Wage-Insurance Tradeoff (Part B) Further Reading 8 Training 8.1 What Is Training? 8.2 Portability of Training 8.3 Who Pays for Training? 143 143 163 167 169 171 172 172 173 174 xi
xii Contents 9 8.4 8.5 Should You Train Your Workers? Practical Applications 8.5.1 Post-Training Increases in Worker Productivity 8.5.2 Training Costs 8.5.3 Expected Post-Training Worker Tenures 8.5.4 Interest Rates 8.6 Lessons for Managers Case Discussion 9: Google Further Reading 176 182 183 184 185 186 187 188 190 Pay for Performance 191 192 193 199 200 201 204 206 208 212 214 214 216 9.1 Hourly Sales Quotas at ProDirect 9.2 Pay for Performance: Some Basics 9.3 What’s the Purpose of Performance Pay? 9.4 How Prevalent Is Performance Pay? 9.5 Risk and Workers’ Attitudes Concerning Risk 9.6 Risk and Performance Pay 9.7 Drawbacks to Performance Pay 9.8 Performance Measurement 9.9 Designing the Performance Pay Contract 9.10 Lessons for Managers Case Discussion 10: Lindy’s Seafood Further Reading 10 Executive Compensation and Stock Options 10.1 10.2 10.3 10.4 CEO Pay Executive Bonuses Equity-Based Compensation Stock Options 10.4.1 Definitions 10.4.2 Value of Stock Options 10.4.3 Stock Options as Nonlinear Pay Contracts 10.4.4 Incentives from Stock Options 10.5 “Pay for Luck” 10.6 Lessons for Managers Case Discussion 11 : Tesla Motors Further Reading 11 Benefits 11.1 Benefits and Value 11.2 Worker Value versus Employer Cost 217 218 219 223 224 225 229 234 236 237 240 241 242 243 243 245
Contents 11.3 One (Big) Problem with Benefits Compensation 11.4 Why Do Employers Offer Benefits? 11.4.1 Legal Mandates 11.4.2 Bulk Discounts on Employer-Purchased Benefits 11.4.3 Tax Considerations 11.4.4 Benefits Can Increase Worker Productivity 11.4.5 Sorting Effects 11.5 Cafeteria Plans 11.6 Pensions 11.6.1 Defined-Benefit Pensions 11.6.2 Defined-Contribution Pensions 11.6.3 Risk and Pensions 11.6.4 Pensions and Retirement Ages 11.6.5 Sorting and Turnover 11.7 Lessons for Managers Case Discussion 17: Walmart Further Reading 12 Turnover Management and Talent Retention 12.1 Turnover and the Level of Compensation 12.1.1 Salary Ranges, Range Spreads, Compa-Ratios, and “Compe-Ratios” 12.2 Turnover and the Timing of Compensation 12.3 Workers’Perceptions of Risk 12.4 Sorting and the Timing of Compensation 12.5 Severance Packages 12.6 Buyouts 12.6.1 Collecting Information for Bargaining Purposes 12.7 Raiding and Offer Matching 12.8 Lessons for Managers Case Discussion 20: Merrill Lynch (Part A) Further Reading 13 Promotions and Pay 13.1 Promotion Prospects 13.2 Pay Structures, Job Analysis, and Job Evaluation 13.2.1 Job-Based and Person-Based Pay Structures 13.2.2 Job Analysis and Job Evaluation 13.2.3 The Connection to Promotions 13.3 Promotion-Based Incentives 13.3.1 “Strategic Shirking” and Other Perverse Incentives 246 248 249 249 249 250 251 253 253 254 256 258 260 263 267 268 269 271 272 275 278 282 282 283 285 289 291 295 297 298 300 300 303 303 305 306 307 308
XIV Contents 14 15 13.4 Matching Workers to Jobs Ideally 13.5 Why Do Big Raises Accompany Promotions? 13.6 Internal versus External Hiring 13.7 Turnover and Promotions 13.8 Up-Or-Out Promotion Policies 13.9 Lessons for Managers Case Discussion 23: New York City Police Department Further Reading 312 315 316 317 318 320 321 322 Negotiation and Bargaining 14.1 Define Your Objective 14.2 Collect Information about Your Opponent 14.3 Reveal Information Strategically 14.4 Threats and Bluffs 14.5 Counteroffers 14.6 Mix Things Up, or Simplify Them 14.7 Lessons for Managers Case Discussion 24: Boston Symphony Orchestra Further Reading 324 325 328 330 331 337 340 341 342 344 Compensation in Nonprofits, the Public Sector, and Small Businesses 345 15.1 What Are Nonprofits, Public-Sector Organizations, and Small Businesses? 15.2 Organizational Mission and Workers’Intrinsic Motivation 15.3 Compensating Differentials 15.4 External and Internal Constraints on Pay 15.5 Recruitment and Training 15.6 Performance-Based Pay 15.7 Turnover 15.8 “Distance” between Managers and Owners 15.9 Lessons for Managers Case Discussion 25: Salesforce.comversusSalesforce.org Further Reading 345 347 348 350 354 354 356 358 359 360 361 Last Remark Further Resources Index 363 364 369
|
| adam_txt |
Contents v. Acronyms Preface Case Discussions 1 2 Introduction 1 1.1 What Is Compensation? 1.2 What Is “Strategic” Compensation? 1.3 What Is Talent Management? 1.4 What Is Your Organization’s Objective? 1.5 Who Cares about Compensation? 1.6 Who Receives Compensation, and Who Doesn’t? 1.7 How Does Compensation Relate to Incentives and Productivity? 1.8 Four Recurring Themes 1.9 What Constitutes “Fair” Compensation? 1.10 Secrecy versus Full Disclosure of Compensation 1.11 Lessons for Managers Appendix: Nominal versus Real Compensation Case Discussion 1 : Buffer, Inc. Further Reading 1 3 3 4 5 5 7 7 8 9 11 13 20 22 Compensation Contract Failure and Wage Theft 23 23 24 25 27 29 32 32 35 2.1 Compensation Contract Failure and Wage Theft 2.2 Timing of Compensation 2.3 Solutions to the Wage-Theft Problem 2.4 Do Laws Prohibiting Wage Theft Increase Workers’Pay? 2.5 Cuts in Nominal and Real Monetary Compensation 2.6 Lessons for Managers Case Discussion 30: Weaver v. Legend Senior Living, LLC Further Reading 3 page xv xix xxiv Compensating Differentials 3.1 Compensating Differentials: a Definition 3.2 Mobility and Information 3.3 Work Environment and Compensating Differentials 36 37 37 38
Contents x 3.4 The Marginal Worker 3.4.1 Comparison to Swing Voters in an Election 3.4.2 Identifying the Marginal Worker 3.4.3 Further Describing the Marginal Worker 3.4.4 Changing the Compensation Levels Might Change the Marginal Worker 3.5 Marginal Worker(s) and the Size of the Market Wage Differential 3.5.1 Explanation 1 3.5.2 Explanation 2 3.5.3 Comparing Explanations 1 and 2 3.5.4 Relative Demand for Labor in Both Cities 3.6 Another Example: CSUEB versus CSUSF 3.6.1 Relative Demand for Professors Is the Same in Both Locations 3.6.2 Relative Demand for Professors Differs betweenthe Two Locations 3.7 Lessons for Managers Case Discussion 3 : The Deadliest Catch Further Reading 4 External Constraints on Pay 4.1 4.2 4.3 4.4 4.5 Wage Theft: a Reprise What’s the Purpose of Labor Law? Compensation Constraints and “the 3 Cs” What Are the Main Types of Labor Law? Protections against Employment Discrimination 4.5.1 Age Discrimination in Employment Act (ADEA) 4.6 Wage (or Salary) and Hours Regulations 4.6.1 Fair Labor Standards Act of 1938 (FLSA) 4.6.2 Prevailing Wages, Living Wages, and Related Legislation 4.6.3 Family and Medical Leave Act of 1993 (FMLA) 4.7 Compensation Floors and Ceilings 4.7.1 Wage Floors 4.7.2 Do Wage Floors Help Workers? 4.7.3 Nominal versus Real Minimum Wages 4.7.4 Wage Ceilings 4.7.5 Floors and Ceilings in Non-Monetary Components of Compensation 4.7.6 Example: Floors in Paid Time Off 4.8 “Hard” versus “Soft” Constraints 4.9 Lessons for Managers Case Discussion 28: The Walrus and the Carpenter Further Reading 39 39 40 41 42 43 43 44 45 46 47 48 49 50 51 52
54 54 56 61 64 65 67 70 70 71 73 75 75 77 79 80 81 82 84 85 87 89
Contents 5 6 7 5.1 Internal Constraints: an Example 5.2 Internal Constraints and “the 3 Cs” 5.3 Unions and Union Contracts 5.4 Unions and Compensation Levels 5.5 Diverse Preferences of Union Members 5.6 Compensation Dispersion 5.7 Compensation Floors and Ceilings 5.8 Other Internal Constraints 5.9 Lessons for Managers Case Discussion 6: CSUEB CBE Further Reading 91 91 92 93 94 95 96 98 99 100 103 105 Compensation Analytics I 107 6.1 What Types of Questions Can You Address Using Compensation Analytics? 6.2 Acquiring Data 6.3 Cleaning Data 6.4 Regression and Data Analysis 6.4.1 Variables (i.e., the Data) 6.4.2 Parameters (or Regression Coefficients) 6.4.3 Error Term 6.5 Levels or Logs? 6.6 Precision 6.7 Lessons for Managers Appendix: Nonlinear Relationships among Variables in a Regression Case Discussion 7: Wage-Insurance Tradeoff (Part A) Further Reading 108 109 112 120 120 123 127 129 132 134 135 139 141 Internal Constraints on Pay Compensation Analytics II 7.1 Application: Gender Differences in Pay in the Sciences 7.2 Exploratory Data Mining, Causality, and Experiments 7.3 Lessons for Managers Case Discussion 8: Wage-Insurance Tradeoff (Part B) Further Reading 8 Training 8.1 What Is Training? 8.2 Portability of Training 8.3 Who Pays for Training? 143 143 163 167 169 171 172 172 173 174 xi
xii Contents 9 8.4 8.5 Should You Train Your Workers? Practical Applications 8.5.1 Post-Training Increases in Worker Productivity 8.5.2 Training Costs 8.5.3 Expected Post-Training Worker Tenures 8.5.4 Interest Rates 8.6 Lessons for Managers Case Discussion 9: Google Further Reading 176 182 183 184 185 186 187 188 190 Pay for Performance 191 192 193 199 200 201 204 206 208 212 214 214 216 9.1 Hourly Sales Quotas at ProDirect 9.2 Pay for Performance: Some Basics 9.3 What’s the Purpose of Performance Pay? 9.4 How Prevalent Is Performance Pay? 9.5 Risk and Workers’ Attitudes Concerning Risk 9.6 Risk and Performance Pay 9.7 Drawbacks to Performance Pay 9.8 Performance Measurement 9.9 Designing the Performance Pay Contract 9.10 Lessons for Managers Case Discussion 10: Lindy’s Seafood Further Reading 10 Executive Compensation and Stock Options 10.1 10.2 10.3 10.4 CEO Pay Executive Bonuses Equity-Based Compensation Stock Options 10.4.1 Definitions 10.4.2 Value of Stock Options 10.4.3 Stock Options as Nonlinear Pay Contracts 10.4.4 Incentives from Stock Options 10.5 “Pay for Luck” 10.6 Lessons for Managers Case Discussion 11 : Tesla Motors Further Reading 11 Benefits 11.1 Benefits and Value 11.2 Worker Value versus Employer Cost 217 218 219 223 224 225 229 234 236 237 240 241 242 243 243 245
Contents 11.3 One (Big) Problem with Benefits Compensation 11.4 Why Do Employers Offer Benefits? 11.4.1 Legal Mandates 11.4.2 Bulk Discounts on Employer-Purchased Benefits 11.4.3 Tax Considerations 11.4.4 Benefits Can Increase Worker Productivity 11.4.5 Sorting Effects 11.5 Cafeteria Plans 11.6 Pensions 11.6.1 Defined-Benefit Pensions 11.6.2 Defined-Contribution Pensions 11.6.3 Risk and Pensions 11.6.4 Pensions and Retirement Ages 11.6.5 Sorting and Turnover 11.7 Lessons for Managers Case Discussion 17: Walmart Further Reading 12 Turnover Management and Talent Retention 12.1 Turnover and the Level of Compensation 12.1.1 Salary Ranges, Range Spreads, Compa-Ratios, and “Compe-Ratios” 12.2 Turnover and the Timing of Compensation 12.3 Workers’Perceptions of Risk 12.4 Sorting and the Timing of Compensation 12.5 Severance Packages 12.6 Buyouts 12.6.1 Collecting Information for Bargaining Purposes 12.7 Raiding and Offer Matching 12.8 Lessons for Managers Case Discussion 20: Merrill Lynch (Part A) Further Reading 13 Promotions and Pay 13.1 Promotion Prospects 13.2 Pay Structures, Job Analysis, and Job Evaluation 13.2.1 Job-Based and Person-Based Pay Structures 13.2.2 Job Analysis and Job Evaluation 13.2.3 The Connection to Promotions 13.3 Promotion-Based Incentives 13.3.1 “Strategic Shirking” and Other Perverse Incentives 246 248 249 249 249 250 251 253 253 254 256 258 260 263 267 268 269 271 272 275 278 282 282 283 285 289 291 295 297 298 300 300 303 303 305 306 307 308
XIV Contents 14 15 13.4 Matching Workers to Jobs Ideally 13.5 Why Do Big Raises Accompany Promotions? 13.6 Internal versus External Hiring 13.7 Turnover and Promotions 13.8 Up-Or-Out Promotion Policies 13.9 Lessons for Managers Case Discussion 23: New York City Police Department Further Reading 312 315 316 317 318 320 321 322 Negotiation and Bargaining 14.1 Define Your Objective 14.2 Collect Information about Your Opponent 14.3 Reveal Information Strategically 14.4 Threats and Bluffs 14.5 Counteroffers 14.6 Mix Things Up, or Simplify Them 14.7 Lessons for Managers Case Discussion 24: Boston Symphony Orchestra Further Reading 324 325 328 330 331 337 340 341 342 344 Compensation in Nonprofits, the Public Sector, and Small Businesses 345 15.1 What Are Nonprofits, Public-Sector Organizations, and Small Businesses? 15.2 Organizational Mission and Workers’Intrinsic Motivation 15.3 Compensating Differentials 15.4 External and Internal Constraints on Pay 15.5 Recruitment and Training 15.6 Performance-Based Pay 15.7 Turnover 15.8 “Distance” between Managers and Owners 15.9 Lessons for Managers Case Discussion 25: Salesforce.comversusSalesforce.org Further Reading 345 347 348 350 354 354 356 358 359 360 361 Last Remark Further Resources Index 363 364 369 |
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| id | DE-604.BV046748456 |
| illustrated | Illustrated |
| index_date | 2024-07-03T14:41:21Z |
| indexdate | 2025-02-20T06:44:44Z |
| institution | BVB |
| isbn | 9781108495202 9781108817431 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-032158234 |
| oclc_num | 1164617639 |
| open_access_boolean | |
| owner | DE-384 DE-473 DE-BY-UBG DE-862 DE-BY-FWS |
| owner_facet | DE-384 DE-473 DE-BY-UBG DE-862 DE-BY-FWS |
| physical | xxv, 379 Seiten Illustrationen |
| publishDate | 2020 |
| publishDateSearch | 2020 |
| publishDateSort | 2020 |
| publisher | Cambridge University Press |
| record_format | marc |
| spellingShingle | DeVaro, Jed Strategic compensation and talent management lessons for managers Lohnzahlung (DE-588)4168092-3 gnd Strategisches Management (DE-588)4124261-0 gnd Personalentwicklung (DE-588)4121465-1 gnd |
| subject_GND | (DE-588)4168092-3 (DE-588)4124261-0 (DE-588)4121465-1 |
| title | Strategic compensation and talent management lessons for managers |
| title_auth | Strategic compensation and talent management lessons for managers |
| title_exact_search | Strategic compensation and talent management lessons for managers |
| title_exact_search_txtP | Strategic compensation and talent management lessons for managers |
| title_full | Strategic compensation and talent management lessons for managers Jed DeVaro |
| title_fullStr | Strategic compensation and talent management lessons for managers Jed DeVaro |
| title_full_unstemmed | Strategic compensation and talent management lessons for managers Jed DeVaro |
| title_short | Strategic compensation and talent management |
| title_sort | strategic compensation and talent management lessons for managers |
| title_sub | lessons for managers |
| topic | Lohnzahlung (DE-588)4168092-3 gnd Strategisches Management (DE-588)4124261-0 gnd Personalentwicklung (DE-588)4121465-1 gnd |
| topic_facet | Lohnzahlung Strategisches Management Personalentwicklung |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=032158234&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT devarojed strategiccompensationandtalentmanagementlessonsformanagers |
Inhaltsverzeichnis
THWS Schweinfurt Zentralbibliothek Lesesaal
| Signatur: |
2000 QP 416 D488 |
|---|---|
| Exemplar 1 | ausleihbar Verfügbar Bestellen |