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Compensation
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Compensation
A Balanced Approach

First Edition

Courses:
Compensation

January 2025 | 496 pages | SAGE Publications, Inc
Compensation: A Balanced Approach 1e takes an applied approach to covering compensation systems and practices by balancing theory and research with exercises and applications. Each chapter looks at compensation from both the employer and employee perspective, giving students a more holistic understanding of the role total rewards play in an organization. Authors Beverly J. DeMarr, Vicki Fairbanks Taylor, and Claudia J. Ferrante help students develop the ability to think critically and ethically about compensation decisions and their effects on both employers and employees.

 
Preface
 
Acknowledgements
 
About the Authors
 
1. Total Compensation
Nature Of The Employment Relationship

 
Perspectives On The Importance Of Compensation

 
From Total Compensation To Total Rewards

 
Worldatwork Total Rewards Model

 
The Unintended Consequences Of Pay

 
Ongoing Challenges: Pay Equity

 
Overview Of The Book

 
Summary

 
Key Terms

 
Discussion Questions

 
 
2. Laws Affecting Compensation
Fair Labor Standards Act

 
Prevailing Wage Laws

 
Anti-Discrimination Laws

 
Legal Compliance

 
Summary

 
Key Terms

 
Discussion Questions

 
 
3. Compensation Strategy and Objectives
Shifting Focus From Shareholders To Stakeholders

 
Types And Levels Of Strategies

 
Using Compensation Strategically

 
Compensation Objectives

 
Influences On Compensation Strategy

 
The Impact Of Compensation Strategy On Behavior

 
Matching Compensation Strategy To The Organization’s Business Strategy

 
Compensation As A Competitive Advantage

 
Summary

 
Key Terms

 
Discussion Questions

 
 
4. Bases of Pay, Variations, and Differentials
Pay Structures: Defining The Value Of Jobs

 
Human Capital Theory: Determining The Value Of Employees

 
Job-Based Pay

 
Person-Based Pay

 
Variations On Job- And Person-Based Pay

 
Compensating Differentials

 
Efficiency Wage Theory

 
Sorting And Motivational Effects Of Differentials And Bases Of Pay

 
Reservation Wage

 
Summary

 
Key Terms

 
Discussion Questions

 
 
5. Establishing an Internally Equitable Compensation System
Internal Equity

 
Job Analysis

 
Competency Modeling: An Alternative to Traditional Job Analysis

 
Job Evaluation: Determining The Relative Value Of Jobs Within An Organization

 
Alternatives To Job Evaluation

 
The Role Of Ai In Creating An Internally Equitable Compensation System

 
Market Pricing

 
Summary

 
Key Terms

 
Discussion Questions

 
 
6. External Equity And Designing A Market-Competitive Pay Structure
Creating A Market-Competitive Pay Structure

 
Analyzing External And Internal Factors Influencing A Market-Competitive Pay Structure

 
Determining The Competitive Pay Policy

 
Collecting Market Data

 
Integrating The Internal Job Structure With The External Market Data

 
Establishing Pay Grades And Pay Ranges

 
Multiple Salary Structures

 
Market-Based Pay Structure: An Alternative To A Market-Competitive Pay Structure

 
Summary

 
Key Terms

 
Discussion Questions

 
 
7. Rewarding Individual Performance
Motivating Employees Through Incentives

 
Measuring Performance

 
Performance Appraisal Methods

 
Merit Pay

 
Bonuses

 
Commission

 
Piecework

 
Standard Hour Plans

 
Summary

 
Key Terms

 
Discussion Questions

 
 
8. Rewarding Group Performance
Types Of Groups

 
Measuring Group Performance

 
Challenges In Rewarding Group Performance

 
Types Of Rewards

 
Gainsharing Plans

 
Profit Sharing

 
Incentive Stock Options

 
Employee Stock Ownership Plans

 
Nonfinancial Group Incentives

 
Summary

 
Key Terms

 
Discussion Questions

 
 
9. Legally Required Benefits
Legally Required Employee Benefits

 
Social Security

 
Unemployment Compensation

 
Workers’ Compensation

 
Family And Medical Leave Act (FMLA)

 
Uniformed Services Employment And Reemployment Rights Act (USERRA)

 
Patient Protection And Affordable Care Act (ACA)

 
Additional Legal Requirements

 
Summary

 
Key Terms

 
Discussion Questions

 
 
10. Voluntary Benefits
Legal Requirements

 
Employer-Sponsored Retirement Plans

 
Health Insurance Alternatives

 
Paid Time Off

 
Other Miscellaneous Benefits

 
The Importance Of A Needs Assessment

 
Flexible Benefits/Cafeteria Plans

 
Managing The System

 
Summary

 
Key Terms

 
Discussion Questions

 
 
11. Compensation of Special Groups
Sales

 
Supervisors

 
Contingent Workers

 
Directors

 
Executives

 
Unionized Workers

 
Two-Tier Pay Plans

 
Part-Time

 
Summary

 
Key Terms

 
Discussion Questions

 
 
12. International Compensation
Data Sources

 
National Differences And Requirements

 
Categories Of International Workers

 
Expatriate Pay And Benefits

 
Cost Containment

 
Repatriation

 
International Assignments: Pros And Cons

 
Summary

 
Key Terms

 
Discussion Questions

 
 
13. Compensation System Administration
Managing Compensation Communication

 
Pay Transparency

 
Addressing Employee Fairness Concerns

 
Managing Compensation Costs

 
Evaluating Effectiveness: Audits, Metrics, And Employee Feedback

 
From Metrics to Analytics

 
Managing Change

 
Summary

 
Key Terms

 
Discussion Questions

 
 
14. Compensation in Context: Putting It All Together
Putting The Pieces Together

 
Careers In Compensation

 
The Future Of Compensation

 
Work-Life Balance

 
Making It Personal

 
Summary

 
Key Terms

 
Discussion Questions

 
 
Appendix: Responsible Furniture Industries, Inc. (RFI)

Supplements

Instructor Resource Site
  1. Instructor Resource Site 
    Online resources included with this text: PowerPoint, Testbank, Lecture Notes, Instructor Manual. 
     
    The online resources for your text are available via the password-protected Instructor Resource Site, which offers access to all text-specific resources, including a test bank and editable, chapter-specific PowerPoint® slides. 
     
    For additional information, custom options, or to request a personalized walkthrough of these resources, please contact your sales representative

The textbook offers a comprehensive view on Compensation systems that is unparalleled in the current market. Human motivation, the Pay Model process, and policy structures are interwoven into the complex fabric of Compensation in an expert fashion. Plus, a comprehensive case study offers students a concrete example of how these concepts contribute to this nuanced function in Human Resources Management.

Dr. Edward De La Torre, Ed.D
California State University, Fullerton

This textbook offers a practical review of compensation and its components. Not only does it touch on the employer but also provides information for the employee. The exercises and case studies assist in facilitation of the course and compensation concepts.

Shari Benson MA, SPHR, SHRM-SCP
University of LaVerne
Key features
  • The Balanced Approach integrates theory and practice, considering both employer and employee perspectives with real-world examples.
  • Experiential exercises allow students to develop their skills for working with compensation systems in their professional careers. 
  • Compensation in the News feature connects the chapter material to current events in business and industry. 
  • Ethical Dilemma activities challenge students to think about the ethical implications of compensation decisions and policies. 
  • Approach alignment with AACSB and ACBSP standards

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