Compensation: Theory, Evidence, and Strategic Implications
`Gerhart and Rynes provide a thorough, comprehensive review of the vast literatures relevant to compensation. Their insights regarding the integration of economic, psychological and management perspectives are particularly enlightening. This text provides an invaluable tool for those interested in advancing our understanding of compensation practices' - Alison Barber, Eli Broad College of Business, Michigan State UniversityCompensation provides a comprehensive, research-based review of both the determinants and effects of compensation. Combining theory and research from a variety of disciplines, authors Barry Gerhart and Sara Rynes examine the three major compensation decisions - pay level, pay structure and pay delivery systems.Revealing the impact of different compensation policies, this interdisciplinary volume examines: the relationship between performance-based pay and intrinsic motivation; implications of individual pay differentials for team or unit performance; the consequences of pay for performance policies; effect sizes and practical significance of compensation findings; and directions for future research.Compensation considers why organizations pay people the way they do and how various pay strategies influence the success of organizations. Critically evaluating areas where research is inconsistent with common beliefs, Gerhart and Rynes explore the motivational effects of compensation.Primarily intended for graduate students in human resource management, psychology, and organizational behaviour courses, this book is also an invaluable reference for compensation management consultants and organizational development specialists.
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ability actually addition advantage agency alignment appear associated attraction average basis behaviors benefits changes Chapter companies compensation competitive consistent contract costs decisions depends determinants differentials difficult discussion earnings economic effects efficiency effort empirical employees evidence examined example executive expected fact factors findings firms focus Gerhart goal greater higher human important incentive increase individual industry influence interest issue labor less lower managers mean measures merit pay motivation noted observed organizational organizations outcomes particularly pay level pay strategy performance person plans positive possible potential practices predicted problems processes productivity profit programs promotion psychological question rates received relationship relative reported rewards risk salary sharing Specifically stock options structure substantial suggests tend theory tion types unit variables wage workers
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Managing Human Resources: Personnel Management in Transition
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