Strategic Compensation A Human Resource Management Approach

Success in the marketplace is as much a function of the way business practitioners manage employees as it is a function of a company's structure and financial resource Compensating employees represents a critical human resource management practice; Without sound compensation systems, companies would not be able to attract and retain the best qualified employees. Compensation systems can promote companies' competitive advantages when properly aligned with strategic goals. Likewise, compensation practices can undermine competitive advantages when designed and implemented haphazardly. The title of this book--Strategic Compensation: A Human Resource Management Approach--reflects the importance of employees as key elements of strategic compensation programs. This book provides a solid understanding of the art of compensation practice and its role in promoting companies' competitive advantages. Students will be best prepared to assume the roles of competent compensation professionals if they possess a grounded understanding of compensation practices and the environments in which business professionals plan, implement, and evaluate compensation systems. Thus, we examine the context of compensation practice, the criteria used to compensate employees, compensation system design issues, employee benefits, and contemporary challenges that compensation professionals will face well into this century.Martocchio, Joseph is the author of 'Strategic Compensation A Human Resource Management Approach', published 2003 under ISBN 9780131824768 and ISBN 0131824767.