Wage and Salary Chapter 1
Front Matter
1. The Pay Model
© The McGraw−Hill Companies, 2004
Chapter One
The Pay Model
Chapter Outline
Compensation: Definition, Please? Society Stockholders Managers Employees Global Views—Vive la différence Forms of Pay Cash Compensation: Base Cash Compensation: Merit Pay/ Cost-of-Living Adjustments Cash Compensation: Incentives Long-Term Incentives Benefits: Income Protection Benefits: Work/Life Focus Benefits: Allowances Total Earnings Opportunities: Present Value of a Stream of Earnings Relational Returns from Work The Employment Relationship Combines Transactional and Relational Returns Variations in Transactional and Relational Expectations A Pay Model Compensation …show more content…
1E. Lawler III, Rewarding Excellence (San Francisco: Jossey-Bass, 2000); Patricia Zingheim and J. R. Schuster, Pay People Right! (San Francisco: Jossey-Bass, 2000); B. Gerhart, “Pay Strategy and Firm Performance,” in Compensation in Organizations: Current Research and Practice, eds. S. L. Rynes and B. E. Gerhart (San Francisco: Jossey-Bass, 2000); B. E. and Mark Huselid, “High Performance Work Systems and Firm Performance: A Synthesis of Research and Management Implications,” in Research in Personnel and Human Resources, ed. G. Ferris (Greenwich, CT: JAI Press, 1998); Barry Gerhart and Sara Rynes