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Title: How to Design & Implement a Results-Oriented Variable Pay System by John G., Jr Belcher ISBN: 0-8144-0296-8 Publisher: AMACOM Pub. Date: May, 1996 Format: Hardcover Volumes: 1 List Price(USD): $55.00 |
Average Customer Rating: 5 (1 review)
Rating: 5
Summary: " What's Wrong With Traditional Reward System ? "
Comment: As asserted by Belcher "traditional approaches to compensation do not meet today's business needs and are failing American industry. As the recognition of failure grows, U.S. companies are rapidly adopting alternative reward systems in an attempt to deal with the challenges of an increasingly competitive marketplace."
What's wrong with this traditional reward system?
According to Belcher :
* tradional reward systems compensate, but do not reward.
* traditional reward systems do not reinforce teamwork.
* traditional reward systems do not support strategic business priorities.
* traditional reward systems are inflexible and are not reflective of business results.
Then, variable/alternative pay system vs. traditional pay/reward system.
Variable pay system is defined by Belcher as an alternative compensation system that ties pay to business outcomes and supports a participative management process. Cash payouts are based on a predetermined measure or measures of group or organizational performance.
This study is highly recommended for HR professionals and line managers.
See also :
* The New Pay-J. Schuster, P. Zingheim
* Strategic Pay-E. Lawler
* Aligning Pay and Results-H. Risher
* Rewards That Drive High Performance-T. Wilson
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Title: The Compensation Handbook by Lance A. Berger, Dorothy R. Berger ISBN: 0071343091 Publisher: McGraw-Hill Trade Pub. Date: 29 December, 1999 List Price(USD): $89.95 |
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Title: Pay for Results: A Practical Guide to Effective Employee Compensation (Taking Control Series) by Karen Jorgensen ISBN: 156343136X Publisher: Silver Lake Publishing Pub. Date: October, 1996 List Price(USD): $29.95 |
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Title: Compensating the Sales Force: A Practical Guide to Designing Winning Sales Compensation Plans by David J. Cichelli ISBN: 0071411887 Publisher: McGraw-Hill Trade Pub. Date: 18 August, 2003 List Price(USD): $34.95 |
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Title: Pay People Right! : Breakthrough Reward Strategies to Create Great Companies by Patricia K. Zingheim, Jay R. Schuster ISBN: 078794016X Publisher: Jossey-Bass Pub. Date: January, 2000 List Price(USD): $40.00 |
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Title: Compensation by George T. Milkovich, Jerry M. Newman, Carolyn Milkovich ISBN: 0072436719 Publisher: McGraw-Hill/Irwin Pub. Date: 23 July, 2001 List Price(USD): $132.80 |
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