The remuneration handbook : a practical and informative handbook for managing reward and recognition / Dr. Mark Bussin & Fermin Diez.

Format:

Book

Author/Creator:

Bussin, Mark, Dr., author.

Diez, Fermin, author.

Language:

English

Subjects (All):

Wages--Handbooks, manuals, etc.

Wages.

Compensation management--Handbooks, manuals, etc.

Compensation management.

Physical Description:

1 online resource (514 pages) : illustrations

Edition:

International edition.

Place of Publication:

South Africa : KR Publishing, 2017.

Summary:

How we remunerate employees reflects the dynamics of the market and context in which we operate. It aligns at all times to the strategic direction and specific value drivers of the businesses within which our organisation operates. Remuneration plays a critical role in attracting, motivating and retaining high-performing individuals. Remuneration also reinforces, encourages and promotes superior performance. Through variable remuneration linked to value drivers, superior performance is recognised and rewarded, while poor performance and under-achievement are coached and managed. Remuneration is never a stand-alone management process, but is rather fully integrated into other management processes, such as the performance management process, and the overall Human Resources policies. CONTENT INCLUDES: - Organisation Strategy and Remuneration Policy - Job Roles and Competence - Job Evaluation - Broad-banding - Individual Performance-, Competence and Skills-based Pay - Pay Structures - Setting Pay Levels - Payroll - Team-based Pay - Sales Force Incentives - Variable Pay and Incentive Schemes - How to Design an Incentive Scheme - Employee benefits - Cost-of-living calculations - International Assignment Remuneration - Retention and Engagement - Recognition - Executive and Boardroom Pay - Remuneration Committees, Governance and NED Pay - Long-Term Incentive Schemes - Reward Trends

Contents:

Cover

Title Page

Endorsements

Copyright Page

Title Page 2

Acknowledgements

Foreword

Contents

About the authors

List of contributors

Preface

Acronyms used

CHAPTER 1 Organisation Strategy and Reward Policy

1.1 Introduction

1.2 Context

1.3 Organisation strategy

5 1.4 Flexible reward practices

1.5 Multi-dimensional construct of reward

1.6 Remuneration strategy

1.7 Remuneration policy

1.8 Role of the remuneration committee

1.9 Conclusion

1.10 Summary

CHAPTER 2 Job Roles and Competence

2.1 Overview

2.2 Terminology

2.3 Uses for job descriptions

2.4 Factors influencing jobs

2.5 Planning and preparation for job description writing

2.6 Understanding a typical job description form

2.7 The job description interview

2.8 Writing up the job description

2.9 Checking and obtaining commitment to a job description

2.10 Summary

2.11 Exercise

CHAPTER 3 Job Evaluation

3.1 Introduction

3.2 The need for job evaluation

3.3 When should job evaluation be used?

3.4 Terminology

3.5 Why job evaluation?

3.6 Benefits of job evaluation

3.7 Understanding the organisation structure

3.8 Information for recruitment

3.9 Further benefits

3.10 Job evaluation process

3.11 Job descriptions and job grading (stage 1)

3.12 Why job evaluation systems fail

3.13 Choice of a job evaluation system

3.14 Categorisation of job evaluation systems

3.15 Points to remember when evaluating jobs

3.16 Job evaluation: frequently asked questions and sample answers

3.17 Summary

3.18 Exercise

CHAPTER 4 Broad-banding

4.1 Broad-banding

4.2 Reasons for implementing broad-banding

4.3 Implementation of the broad-banding strategy

4.4 Paradigm shifts: new versus traditional business models

4.5 The customer-driven approach.

4.6 Broad-banding fundamentals

4.7 The mechanics of broad-banding

4.8 Job family design

4.9 Pay administration

4.10 Benefits of broad-banding

4.11 Potential results of broad-banding

4.12 Development

4.13 Changes to organisational structure

4.14 Essentials for implementation of broad-banding

4.15 Readiness matrix example

4.16 Practical toolkit to prepare for broad-banding

4.17 Summary

CHAPTER 5 Individual Performance-, Competence- and Skills-based Pay

5.1 Definitions, reasons for, and objectives of performance-related pay

5.2 The mechanics of PRP

5.3 Critical success factors for PRP

5.4 Definitions, reasons and objectives of competency-based pay (CBP)

5.5 The mechanics of CBP

5.6 Competency-based reward systems

5.7 Comparison of mechanics of PRP and CBP

5.8 Skills-based pay

5.9 The mechanics of skills-based pay

5.10 Critical success factors: integration of PRP, CBP and SBP

5.11 Summary

5.12 Exercise

CHAPTER 6 Pay Structures

6.1 Understanding what a pay structure is

6.2 Why organisations have pay structures

6.3 Features of well-designed pay structures

6.4 What influences the design of pay structures?

6.5 Developing a pay structure

6.6 Designing an effective pay structure

6.7 Terminology

6.8 Different pay structures: applications

6.9 Pay progression policy guidelines

6.10 Trends towards pay structure integration

6.11 Implementation of pay structures: a checklist

6.12 Summary

6.13 Exercise

CHAPTER 7 Setting Pay Levels

7.1 Why use market surveys?

7.2 Statistics and definitions

7.3 Definitions

7.4 Regional and organisation variables

7.5 Job matching

7.6 Club surveys

7.7 Published surveys

7.8 Other sources of pay data

7.9 Layout of information

7.10 Setting the CEO's pay.

7.11 Guidelines for setting CEO and executive pay

7.12 Selecting comparators for remuneration benchmarking

7.13 Summary

7.14 Exercise

CHAPTER 8 Payroll

8.1 Payroll management

8.2 The role of the payroll department

8.3 The payroll, HR and benefits manager's role

8.4 Items affecting payroll administration

8.5 Payroll trends

8.6 Integration of payroll and HR databases

8.7 Web-based solutions

8.8 Payroll services

8.9 Summary

CHAPTER 9 Team-based Pay

9.1 Types of teams

9.2 Parallel teams and pay

9.3 Project teams and pay

9.4 Work teams and pay

9.5 Best practice guidelines

9.6 Why teams fail: research results

9.7 What makes a good team?

9.8 Different types of incentive plan

9.9 Design considerations

9.10 Performance measurement

9.11 Rewarding top performers

9.12 Pay - the final frontier

9.13 Advantages and disadvantages of various incentive schemes

9.14 Some final thoughts on teams and pay

9.15 Conclusion

9.16 Summary

9.17 Side bar

CHAPTER 10 Sales Force Incentives

10.1 Introduction and context

10.2 Key sales remuneration definitions

10.3 Designing a total remuneration strategy for sales executives

10.4 Basic design issues

10.5 Types of sales remuneration plans

10.6 Sales roles as drivers

10.7 Sales roles change focus over time

10.8 Sales bonus or commission schemes: advantages and disadvantages

10.9 The use of decelerators

10.10 Elements of a sales remuneration plan

10.11 Noncash incentives

10.12 Sales remuneration and the e-world

10.13 Cross-selling incentives

10.14 Sales manager incentives

10.15 Incentives for relationship management

10.16 Tax treatment

10.17 New sales roles

10.18 Summary

CHAPTER 11 Variable Pay and Incentive Schemes

11.1 Variable pay and incentive schemes.

11.2 Difference between variable pay and "pay at risk"

11.3 Why implement variable pay?

11.4 The business case for incentives and good rewards

11.5 Implementation considerations

11.6 Design considerations

11.7 Incentive scheme design and framework

11.8 Design process

11.9 Goals for incentive scheme

11.10 Non-negotiable principles for effective incentives

11.11 Choice of scheme

11.12 Size of the incentive award

11.13 Performance measures

11.14 Incentive award determination

11.15 Main features of various types of incentive scheme

11.16 Conclusion

11.17 Summary

CHAPTER 12 How to Design an Incentive Scheme

12.1 Requirements of a functioning incentive scheme

12.2 Design and implement an incentive scheme

12.3 Summary

CHAPTER 13 Employee Benefits

13.1 Introduction

13.2 Types of benefits

13.3 Healthcare costs

13.4 Life Insurance

13.5 Retirement Benefits

13.6 Other benefits

13.7 Benefits for contingent workers

13.8 Planning, design, and administration of benefits plans

13.9 Role of benefits in attraction, retention, and motivation

13.10 Current issues in healthcare

13.11 Summary

CHAPTER 14 Cost-of-living Calculations

14.1 Introduction

14.2 Cost-of-living data

14.3 Expatriate calculations

14.4 Conclusion

CHAPTER 15 International Assignment Remuneration

15.1 Context and linkage

15.2 Types of international assignments

15.3 Philosophy, key concepts and definitions

15.4 Approaches to international assignment remuneration

15.5 Positioning international assignment remuneration in the total reward system

15.6 Design considerations

15.7 Critical success factors

15.8 Current issues

15.9 Case study: guidelines to management

15.10 Sample expatriate philosophy for ABC Group

15.11 Summary

CHAPTER 16 Retention and Engagement.

16.1 Retention strategy framework

16.2 Remuneration options

16.3 Engagement

16.4 Hot skills

16.5 Business case for investing in employee engagement

16.6 The importance of measurement and benchmarks

16.7 Conclusion

16.8 Summary

CHAPTER 17 Recognition

17.1 Context and linkage

17.2 Definitions and differences clearly understood

17.3 Positioning recognition in the total reward system

17.4 The business case for implementing a recognition

17.5 Design considerations

17.6 Recognition schemes: the lottery

17.7 Critical success factors

17.8 "Virtual scorecard" approach

17.9 Case study: guidelines to management

management

17.10 Recognising employees

17.11 Conclusion

17.12 Summary

CHAPTER 18 Executive and Boardroom Pay

18.1 Background and context

18.2 Impact of pay policy on organisations

18.3 Remuneration frameworks and models

18.4 Structure of executive pay

18.5 Current trends and issues in linking executive pay to performance

18.6 Setting the CEO's pay

18.7 Guidelines for setting CEO and executive pay

18.8 Selecting comparators for remuneration benchmarking

18.9 Definition of philosophy underlying executive remuneration programmes

CHAPTER 19 Remuneration Committees, Governance and NED Pay

19.1 Why do we need a remuneration committee?

19.2 Restoring investor confidence

19.3 Nonexecutive directors' fees

19.4 Remuneration committees (RemCos)

19.5 Critical success factors for good corporate governance

19.6 The high-level duties of RemCos

19.7 Where the CEO fits in

19.8 Committee meeting guidelines

19.9 Independent determination

19.10 Corporate governance

19.11 How to improve remuneration governance

19.12 Summary

CHAPTER 20 Long-Term Incentive Schemes

20.1 Share schemes defined

20.2 Features of share schemes.

20.3 Taxation of participants.

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (ebrary, viewed June 2, 2017).

ISBN:

1-86922-570-8

OCLC:

987726178