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The collaborative efforts of George Milkovich, Jerry Newman, and Barry Gerhart provide students with a best-selling resource in their textbook Compensation, ISBN 9780073530499. Through the inclusion of the most up-to-date research, comprehensive explanations of topics, the most effective instructional methodologies, as well an appealing writing approach,...
The collaborative efforts of George Milkovich, Jerry Newman, and Barry Gerhart provide students with a best-selling resource in their textbook Compensation, ISBN 9780073530499. Through the inclusion of the most up-to-date research, comprehensive explanations of topics, the most effective instructional methodologies, as well an appealing writing approach, this book serves as a thorough tool for students and instructors alike. This text investigates the tactical choices offered in managing total compensation as well as presents major compensation issues through the lens of modern theory, research, and real-business practices. The authoring trio highlights strategies that offer current developments in compensation practices as well as recognized approaches to important decisions regarding compensation. George Milkovich, Jerry Newman, and Barry Gerhart succinctly organize the contents of Compensation across six parts and 18 chapters. The book begins with two introductory chapters, chapter 1 discussing 'The Pay Model' and chapter 2 presenting 'Strategic Perspectives.' Part 1 then follows entitled 'Internal Alignment: Determining the Structure' and include chapters devoted to defining internal alignment, job analysis, job evaluation, as well as person-based structures. Part 2 presents information surrounding 'External Competitiveness: Determining the Pay Level' through chapters on defining competitiveness, and defining pay levels, mix, and pay structures. Part 3 delves into 'Employee Contributions: Determining Individual Pay.' Chapters in this section investigate pay-for-performance as well as performance appraisals. 'Employee Benefits' are discussed in part 4 with chapters on the benefits determination process as well as benefit options. Part 5 is entitled 'Extending the System' and devotes itself to chapters on compensation of special groups, union role in wage and salary administration, international pay systems. The final section of this book is part 6 which discusses 'Managing the System.' These concluding chapters provide information on government and legal issues in compensation as well as budgets and administration.
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