the REMUNERATION HANDBOOK a practical and informative handbook for managing reward and recognition 2nd Edition by Mark Diez, Fermin Bussin ISBN 9781869228910 186922891X

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ISBN 10: 186922891X
ISBN 13: 9781869228910
Author: Mark Diez, Fermin Bussin

Remuneration plays a critical role in attracting, motivating and retaining high-performing individuals. Remuneration also reinforces, encourages and promotes superior performance. However, remuneration is never a stand-alone management process, it’s fully integrated into other management processes, such as the performance management process, and the overall Human Resources policies. The Remuneration Handbook is a practical, holistic handbook for managing reward and recognition in any organisation. Contents
Organisation Strategy and Remuneration Policy Job Roles and Competence Job Evaluation Setting Pay Levels Salary Structures Broad-Banding Competence and Skills-based Pay Individual Performance and Based Pay Allowances as a Component of Total Fixed Pay Team-based Pay Variable Pay and Incentive Schemes Sales Force Incentives Employee Benefits Retention and Engagement International Assignment Remuneration Remuneration Governance Reward Trends And more!

the REMUNERATION HANDBOOK a practical and informative handbook for managing reward and recognition 2nd Edition Table of contents:

CHAPTER 1: Organisation Strategy and Reward Policy
1.1 Introduction
1.2 Context
1.3 Organisation strategy
1.4 Organisational characteristics When developing a pay strategy, HR professionals must consider a number of components that can enhance or compromise a remuneration plan. Organisations rarely, if ever, have a remuneration plan devoted solely to one of
1.5 Reward strategy
1.6 Multi-dimensional construct of reward
1.7 Remuneration strategy
1.8 Key trends
1.9 Remuneration policy
1.10 Conclusion
1.11 Summary
1.12 Self-evaluation questions
1.13 Exercise
CHAPTER 2: Job Roles and Competence
2.1 Overview
2.2 Terminology
2.3 Uses for job descriptions
2.4 Factors influencing jobs
2.5 Planning and preparation for job description writing
2.6 Understanding a typical job description form
2.7 The job description interview
2.8 Writing the job description
2.9 Checking and obtaining commitment to a job description
2.10 Summary
2.11 Self-evaluation questions 1. What is the difference between a job description and a role description? 2. What are the key elements that go into a job description? 3. What are the golden rules for interviews? 4. Name some guidelines for writing the
2.12 Exercise
CHAPTER 3: Job Evaluation
3.1 Introduction
3.2 The need for job evaluation
3.3 When should job evaluation be used?
3.4 Terminology
3.5 Why job evaluation?
3.6 Benefits of job evaluation systems
3.7 Understanding the organisation structure
3.8. Information for recruitment
3.9 Additional benefits
3.10 Job evaluation process
3.11 Job descriptions and job grading (Stage 1)
3.12 Why job evaluation systems fail
3.13 Choice of a job evaluation system
3.14. Categorisation of job evaluation systems
3.15 Points to remember when evaluating jobs
3.16 Job evaluation: Frequently asked questions and sample answers
3.17 Summary
3.18 Self-evaluation questions
3.19 Exercise
CHAPTER 4: Setting Pay Levels
4.1 Why use market surveys?
4.2 Statistics commonly used in surveys
4.3 Definitions used in surveys
4.4 Regional and organisation variables
4.5 Job matching
4.6 Who is surveyed?
4.7 Club surveys
4.8 Published surveys
4.9 Other sources of pay data
4.10 Layout of information
4.11 Guidelines on selecting comparators
4.12 Summary
4.13 Self-evaluation questions
4.14 Exercise
CHAPTER 5: Salary Structures
5.1 What is a salary structure?
5.2 Why organisations have salary structures
5.3 Features of well-designed salary structures
5.4 What influences the design of salary structures?
5.5 Developing a salary structure
5.6 Designing an effective salary structure
5.7 Terminology
5.8 Plotting the curve
5.9 Different salary structures: Applications
5.10 Salary progression policy guidelines
5.11 Placement of incumbents in the salary scale
5.12 Implementation of salary structures: A checklist
5.13 Conclusion
5.14 Summary A salary structure comprises a job grade and commensurate salary scales linked to each grade. The key architecture of salary structures refers to salary ranges, salary overlap, salary slope and midpoint progression. The purpose of salary st
5.15 Self-evaluation questions
5.16 Exercise
CHAPTER 6: Broad-banding
6.1 What is broad-banding?
6.2 Reasons for implementing broad-banding
6.3 Implementation of the broad-banding strategy
6.4 Paradigm shifts: new versus traditional business models
6.5 The mechanics of broad-banding
6.6 Job family design
6.7 Pay administration under broad-banding
6.8 Potential Results of Broad-banding
6.9 Essentials for implementation of broad-banding
6.10 Readiness matrix example
6.11 Practical toolkit to prepare for broad-banding
6.12 Summary Broad-banding occurs when one combines several narrow grades into one broad-band. The reason organisations implement broad-banding is to create bigger steps between levels of work. This changes the intense focus of minute and incremental c
6.13 Self-evaluation questions
CHAPTER 7: Competence and Skills-based Pay
7.1 Definitions, reasons and objectives of competency-based pay (CBP)
7.2 The mechanics of CBP
7.3 Competency-based reward systems
7.4 Skills-based pay
7.5. Critical success factors: Integration of performance-based pay, CBP and SBP
7.6 Summary
7.7 Self-evaluation questions
7.8 Exercise
CHAPTER 8: Individual Performance and Base Pay
8.1 Definitions, reasons for and objectives of performance-related pay
8.2 The mechanics of PRP
8.3 Critical success factors for PRP
8.4 Summary
8.5 Self-evaluation questions
8.6 Exercise
CHAPTER 9: Allowances As a Component of Total Fixed Pay
9.1 Why allowances and how do they fit into total packages?
9.2 What does fixed pay mean?
9.3 Why the trend?
9.4 How the total fixed pay packaging approach works
9.5 Fixed pay package structuring options
9.6 A typical process
9.7 Do’s and don’ts in the total fixed pay package approach
9.8 Suggestions on software use
9.9 Role of HR business partners
9.10 Ongoing maintenance of the system
9.11 Summary
9.12 Self-evaluation questions
CHAPTER 10: Payroll
10.1 Payroll management
10.2 The role of the payroll department
10.3 The payroll, HR and benefits manager’s role
10.4 Items affecting payroll administration
10.5 Payroll trends
10.6 Integration of payroll and HR databases
10.7 Web-based solutions
10.8 Payroll services
10.9 Summary
10.10 Self-evaluation questions
CHAPTER 11: Team-based Pay
11.1 Types of teams
11.2 Parallel teams and pay
11.3 Project teams and pay
11.4 Work teams and pay
11.5 Best practice guidelines
11.6 Why teams sometimes fail
11.7 What makes a good team?
11.8 Different types of team incentive plans
11.9 Design considerations
11.10 Performance measurement
11.11 Rewarding top performers
11.12 Pay – The final frontier
11.13 Advantages and disadvantages of various incentive schemes
11.14 Some final thoughts on teams and pay
11.15 Summary
11.16 Self-evaluation questions
CHAPTER 12: Variable Pay and Incentive Schemes
12.1 Variable pay and incentive schemes
12.2 Difference between variable pay and “Pay at Risk”
12.3 Why implement variable pay?
12.4 The business case for incentives and good rewards
12.5 Implementation considerations
12.6 Design considerations
12.7 Incentive scheme design and framework
12.8 Design process
12.9 Goals for the incentive schemes
12.10 Non-negotiable principles for effective incentives
12.11 Choice of scheme
12.12 Size of the incentive award
12.13 Performance measures
12.14 Incentive award determination
12.15 Main features of various types of incentive schemes
12.16 Conclusion
12.17 Summary
12.18 Self-evaluation questions
CHAPTER 13: How To Design An Incentive Scheme
13.1 Requirements of a functioning incentive scheme
13.2 Designing and implementing an incentive scheme
13.3 Summary
13.4 Self-evaluation questions
CHAPTER 14: Sales Force Incentives
14.1 Introduction and context
14.2 Key sales remuneration definitions
14.3 Designing a total remuneration strategy for sales executives
14.4 Basic design issues
14.5 Types of sales remuneration plans
14.6 Sales roles as drivers
14.7 Sales roles change focus over time
14.8 Sales bonus or commission schemes: advantages and disadvantages
14.9 The use of decelerators
14.10 Elements of a sales remuneration plan
14.11 Non-cash incentives
14.12 Sales remuneration and the e-world
14.13 Cross-selling incentives
14.14 Sales manager incentives
14.15 Incentives for relationship management
14.16 New sales roles
14.17 Summary
14.18 Self-evaluation questions
CHAPTER 15: Long-term Incentive Schemes
15.1 What is a share scheme?
15.2 Share schemes defined
15.3 Features of share schemes
15.4 Taxation of participants
15.5 Factors affecting value to participants
15.6 Real shares or phantom shares for listed companies?
15.7 Accounting for share-based payments (IFRS 2)
15.8 Topping-up practice
15.9 Performance conditions
15.10 Legal aspects
15.11 Design trends
15.12 Stakeholder requirements
15.13 Role of the remuneration committee (RemCo)
15.14 CEO pay
15.15 Summary
15.16 Self-evaluation questions
CHAPTER 16: Employee Benefits
16.1 Introduction
16.2 Types of benefits
16.3 Health care costs
16.4 Life insurance
16.5 Retirement benefits
16.6 Other benefits
16.7 Benefits for contingent workers
16.8 Planning, design and administration of benefits plans
16.9 Role of benefits in attraction, retention and motivation
16.10 Current issues in health care
16.11 Summary
16.12 Self-evaluation questions
CHAPTER 17: Retention and Engagement
17.1 Retention strategy framework
17.2 Remuneration options for retention
17.3 Engagement
17.4 Hot skills
17.5 Business case for investing in employee engagement
17.6 The importance of measurement and benchmarks
17.7 Conclusion
17.8 Summary
17.9 Self-evaluation questions
CHAPTER 18: Recognition
18.1 Context and linkage
18.2 Definitions and differences clearly understood
18.3 Positioning recognition in the total reward system
18.4 The business case for implementing a recognition system
18.5 Design considerations
18.6 Recognition schemes: The lottery
18.7 Critical success factors
18.8 “Virtual scorecard” approach
18.9 Case study: Guidelines to management
18.10 Recognising employees
18.11 Conclusion
18.12 Summary
18.13 Self-evaluation questions
CHAPTER 19: International Assignment Remuneration
19.1 Context and linkage
19.2 Types of international assignments
19.3 Philosophy, key concepts and definitions
19.4 Approaches to international assignment remuneration
19.5 Positioning international assignment remuneration in the total reward system
19.6 Design considerations
19.7 Critical success factors
19.8 Current issues
19.9 Summary
19.10 Self-evaluation questions
CHAPTER 20: Remuneration Committee and Boardroom Fees
20.1 Background and context
20.2 Impact of pay policy on organisations
20.3 Remuneration frameworks and models
20.4 Structure of executive pay
20.5 Current trends and issues in linking executive pay to performance
20.6 Definition of philosophy underlying executive remuneration programmes
20.7 Why do we need a remuneration committee?
20.8 Non-executive directors’ fees
20.9 Remuneration committees (RemCos)
20.11 Critical success factors for good corporate governance
20.12 Where the CEO fits in
20.13 Remuneration policy
20.14 Committee meeting guidelines
20.15 Independent determination
20.16 Summary
20.17 Self-evaluation questions
CHAPTER 21: Remuneration Governance
21.1 Corporate governance
21.2 The King IV report
21.3 How to improve remuneration governance and the consequences of non-compliance
21.4 Summary
21.5 Self-evaluation questions
CHAPTER 22: Reward Trends
22.1 Pay for retention
22.2 Pay for development
22.3 Pay for productivity
22.4 Pay for location
22.5 Gig workers/project-based pay
22.6 Specialist career tracks
22.7 More flexibility
22.8 Intense focus on the wage gaps
22.9 Media scrutiny
22.10 Optimising rewards
22.11 Crypto-pay
22.12 Salary surveys
22.13 Conclusion
22.14 Summary
22.15 Self-evaluation questions
Toolkit 1 Sample Remuneration Policy and Philosophy
Toolkit 2 Definitions of Remuneration Terms
Toolkit 3 Sample Job Description Form
Toolkit 5 Preparation for Broad-Banding
Toolkit 6 Article – Reward for Good Governance
Toolkit 7 Article – The impact of Recession on Global Pay
Toolkit 8 Remuneration in a Downturn
Toolkit 9 Article – What are Your Labour Turnover Figures Telling You?
Toolkit 10 Total Rewards and the Employee Value Proposition (EVP)
References
Index

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