A comprehensive look at not only the choices surrounding the development of a pay system but also the pros and cons associated with each choice....Thorough. --HR Magazine
In this seminal work, acclaimed compensation expert Edward Lawler III shows companies that the way they pay can be an important source of competitive advantage. He reveals how pay strategies that draw a clear connection between pay and performance can support an organization's strategic objectives by communicating unmistakably what that organization values most. Moreover, he examines a wide range of performance-based pay practices--from piecework incentive systems to merit pay and skill-based pay--to demonstrate how compensation systems can be tailored to fit a variety of business strategies and management styles. Both traditional and nontraditional pay strategies are examined, with special emphasis given to designing pay systems that support participatory management and other innovative practices.
"A comprehensive look at not only the choices surrounding the development of a pay system but also the pros and cons associated with each choice.... Thorough."
From the Inside Flap
"A comprehensive look at not only the choices surrounding the development of a pay system but also the pros and cons associated with each choice....Thorough."--HR MagazineIn this seminal work, acclaimed compensation expert Edward Lawler III shows companies that the way they pay can be an important source of competitive advantage. He reveals how pay strategies that draw a clear connection between pay and performance can support an organization's strategic objectives by communicating unmistakably what that organization values most. Moreover, he examines a wide range of performance-based pay practices--from piecework incentive systems to merit pay and skill-based pay--to demonstrate how compensation systems can be tailored to fit a variety of business strategies and management styles. Both traditional and nontraditional pay strategies are examined, with special emphasis given to designing pay systems that support participatory management and other innovative practices.
Edward E. Lawler III joined the faculty of Yale University after receiving his Ph.D. from the University of California at Berkeley in 1964. Three years later he was promoted to Associate Professor.
He moved to the University of Michigan in 1972 as Professor of Psychology and also became Program Director in the Survey Research Center at the Institute for Social Research. In 1978, he became a Professor in the Marshall School of Business at the University of Southern California. That same year, he founded and became Director of the University's Center for Effective Organizations. He was named Professor of Research at the University of Southern California in 1982 and Distinguished Professor of Business in 1999.
Lawler has been honored as a major contributor to theory, research, and practice in the fields of human resources management, compensation, organizational development, corporate governance, and organizational effectiveness. He is the author and co-author of over thirty-eight books and more than three hundred articles, which have appeared in the Harvard Business Review, MIT-Sloan Management Review, California Management Review, USA Today, Strategy and Business, the Financial Times, and more than thirty other magazines, journals, and newspapers.
His most recent books include Rewarding Excellence (Jossey-Bass, 2000), Corporate Boards: New Strategies for Adding Value at the Top (Jossey-Bass, 2001), Organizing for High Performance (Jossey-Bass, 2001), Treat People Right (Jossey-Bass, 2003), Human Resources Business Process Outsourcing (Jossey-Bass, 2004), Achieving Strategic Excellence: An Assessment of Human Resource Organizations (Stanford Press, 2006), Built to Change (Jossey-Bass, 2006), The New American Workplace (Palgrave-Macmillan, 2006), and America at Work (Palgrave-Macmillan, 2006), Talent: Making People Your Competitive Advantage (Jossey-Bass, 2008), and Achieving Excellence in HR Management: An Assessment of Human Resource Organizations (Stanford Press, 2009) and Management Reset (Jossey-Bass, 2011).
Business Week has proclaimed Lawler one of the top six gurus in the field of management, and Human Resource Executive called him one of HR's most influential people. Workforce magazine identified him as one of the twenty-five visionaries who have shaped today's workplace over the past century. He has been a consultant to many corporations, including the majority of the Fortune 100, as well as governments at all levels.
This review is from: Strategic Pay: Aligning Organizational Strategies and Pay Systems (Jossey-Bass Management) (Hardcover)
"Why this book is written? ...Because during this decade organizations became more willing to try new pay practices. This willingness to deviate from traditional pay practices undoubtedly stemmed from the fact that, because the old ways were often inadequate, organizations sought new approaches to management. In the search for new ways to manage, pay was one of a number of practices that underwent scrunity and, in some cases, important chance... I wrote it because I wanted to demonstrate how important pay system design choices are to the ultimate effectiveness of an organization. I hope that it will put to rest the idea that pay is simply a cost for an organization, make it clear that making the right choices with respect to pay practices and processes is vital to an organization's effectiveness, and establish that pay practices can provide a definite competitive advantage (from the preface)."
I highly recommend this pioneering study to all HR professionals and executives.
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