The "People and Organizations" series provides texts for two stages in the standards: Core Personnel and Development; and the four generalist modules in Employee Resourcing, Reward, Relations and Development. It should be of interest to students taking the Core Personnel and Development - a new compulsory module for the IPD Standards, as well as any students on a wide range of other degree- and diploma-level business courses which require a solid understanding of people management and development. Reward is one of the central creative accountabilities for all personnel professionals. When used effectively as a strategic tool, it can play a key role in communicating values, promoting flexibility and maximizing individual contributions to organizational objectives. This book sets out the central competences all practitioners need in their portfolio. Decisions about pay are inevitably influenced by local labour markets, the wider national and international context, the state of the economy, and beliefs about whether money, fringe benefits and less tangible forms of remuneration can genuinely motivate employees.
This volume explores all these themes, and then demonstrates to students how employers: evaluate, price and analyze jobs and roles, while ensuring competitiveness and equal pay for work of equal value; design graded structures, pay spines and newer broad-banded systems; integrate reward with performance management; forge links with individual, team and corporate results - skills-based pay, competence-based pay and incentive schemes; determine the right levels of benefits, allowances and pensions; reward directors, executives, expatriates and sales staff. Once these foundations are in place, reward still needs to be constantly managed and administered. By starting from first principles and adopting an integrated approach, this book provides a complete overview of the whole process. Michael Armstrong is the author of "Management Processes and Functions", "The Job Evaluation Handbook", "The Reality of Strategic HRM" and "Using the HR Consultant".