New Compensation Management in Changing Environment : Managerial Remuneration and Wage and Salary Administration a Professional Manual
Contents: Preface. I. Managerial compensation (Remuneration): 1. Contemporary managerial compensation. 2. Managerial compensation—background and present scenario. 3. Trends in managerial compensation. 4. Strategies for managerial compensation. 5. New approaches to compensation systems. 6. Performance-based managerial compensation. 7. The process of designing compensation system. 8. Variable Performance Linked Pay (VPLP). 9. Controversy about CEO’s salaries are ballooning and need for ceiling it? 10. Managerial retention strategies. 11. Pros and cons of job hopping and how to retain them. 12. Employee Stock Option Plan (ESOP) and EVA. 13. Personal income tax planning. 14. Planning a tax efficient salary package. 15. Compensation in international perspective and practices of countries. 16. Compensation for expatriates. 17. Current wage, benefits system and reform in Japan. II. Wage and salary administration: 18. Wage and salary administration: an overview. 19. Factors influencing in evolving wage policy of a company. 20. Methods of state regulation of wages. 21. Approaches in fringe benefits and employee services. 22. Methods of wage payments. 23. Wage incentive systems. 24. Job evaluation. 25. Wage policy in India. III. Wage theories and legislation: 26. Motivation theories. 27. Wage theories. 28. Wage legislation in India. 29. Social security schemes in different countries. IV. Salary structures in different sectors: 30. Salary structure in Central Government. 31. Salary structure in Central Public Sector Enterprises (PSEs). 32. Salary structure in nationalised banks. 33. Dearness Allowance (DA). 34. Voluntary retirement schemes: salient features. 35. Group superannuation scheme for employer’s through Life Insurance Corporation of India (LIC). 36. View of management gurus on pay/rewards. References. Index.
"Designing compensation system is a challenging task of managements to develop commitment and competence. This book focuses on both extrinsic (financial) and intrinsic (non-financial) rewards. Covers all aspects of contemporary financial packages of salary, bonus performance and profit sharing long-term incentives such as stock options, fringe benefits and welfare services. New approaches to compensation system such as:
Aligning compensation to organisation business strategy
Modifying employee behaviour
Customised model for rewards
Competency pay for multiskilled workforce
Variable pay
Broad banding.
