When change is underway, pay can be a powerful communicator of values and directions. And in today"s challenging business environment, the need to use pay strategically is more important than ever as organizations and their leaders look for ways to improve outcomes, performance, productivity, and teamwork. Linking rewards to business goals and competencies is essential to gain competitive advantage through people.
Based on extensive research with Fortune 100 companies and on their own consulting work with companies in various industries worldwide, Jay R. Schuster and Patricia K. Zingheim offer a powerful strategy for making pay a positive force for organizational excellence. This pioneering work includes the first "best practices" study to show the impact of pay practices on organizational performance. With numerous sample pay strategies and examples of pay tools that can be adapted to a wide range of situations, the authors provide how-to guidance to executives, managers, and human resource and compensation specialists--anyone responsible for developing base pay, incentive, and benefit plans.
Where traditional models of compensation and reward no longer serve the best interests of organizations and the employees who must make companies succeed, The New Pay provides the critical tools for creating a total compensation strategy and pay programs that add value and support organizational success.