Strategic Compensation a Human Resource Management Approach  (Paperback)

Strategic Compensation: A Human Resource Management Approach by Joe Martocchio addresses all the issues that are related to deciding the correct payment package and thereby establish the company as a leader among its competitors. This is the sixth edition of the book and has information updated with the existing global scenario and contains several case studies to compliment the theory. The content is divided into six major parts. The first part gives an introduction to the concept of Strategic compensation and the role it plays in HR and also the factors that determine a package. Part Two deals with the determination of a pay package and the three different methods of deciding the package. Planning the compensation matrix features in the next part, which comprises payment packages that have uniformity from inside, at par with those offered in the market and also deciding the package based on performance. Part Four lists the benefits such as retirement benefits, health insurance, and other allied benefits. Compensation packages for different groups of employees and the package issues rampant across the globe constitute the rest of the book.

Table of Contents
PART I: SETTING THE STAGE FOR STRATEGIC COMPENSATION
Strategic Compensation: A Component of Human Resource Systems
Contextual Influences on Compensation Practice

PART II: BASES FOR PAY
Traditional Bases for Pay: Seniority and Merit
Incentive Pay
Person-Focused Pay

PART III: DESIGNING COMPENSATION SYSTEMS
Building Internally Consistent Compensation Systems
Building Market-Competitive Compensation Systems
Building Pay Structures That Recognize Employee Contributions

PART IV: EMPLOYEE BENEFITS
Discretionary Benefits
Employer-Sponsored Retirement Plans and Health Insurance Programs
Legally Required Benefits

PART V: COMPENSATION CHALLENGES FOR STRATEGIC EMPLOYEE GROUPS
Compensating Executives
Compensating the Flexible Workforce: Contingent Employees and Flexible Work Schedules

PART VI: COMPENSATION ISSUES AROUND THE WORLD
Compensating Expatriates
Pay and Benefits Outside the United States