Managing Employee Performance and Reward: Concepts, Practices, Strategies | by John Shields | ISBN: 9780521820462. Competency-Based Human Resource Management. Motivation Management. Performance Review and Development. Job-Based, Skill-Based and Competency-Based Pay Systems. Executive Incentives.
Managing Employee Performance and Reward: Concepts, Practices, Strategies
by John Shields
ISBN:9780521820462
Examining contemporary theory and practice in these central fields of human resource management, this book provides a comprehensive overview of the key concepts and topics, and draws on a wide range of case studies to demonstrate the theories.
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Managing Employee Performance and Reward—Concepts, Practices, Strategies
Foreword
Introduction—Setting the Scene
Overview
Conceptual Approach
Structure
Chapter Summary
Discussion Questions
Part 1 – The Fundamentals
Chapter One – Performance and Reward Basics
‘Performance’
Performance Management Purpose
Basic Requirements for Effective Performance Management
‘Reward’ and ‘Total Reward’
Remuneration
Purpose of Reward Management
Chapter Summary
Discussion Questions
Chapter Two – Working with Psychology
Work Behaviour
Work Attitudes
Attitudes and Behaviour: Associations and Antecedents
The Psychological Contract
Organisational Justice Perceptions
Chapter Summary
Discussion Questions
Chapter Three – Managing Motivation
Motivation: Meaning and Complexity
Content Theories of Motivation
Process Theories
Motivation Management: From Theory to Theoretically Informed Practice
Chapter Summary
Discussion Questions
Chapter Four – Being Strategic and Getting Fit
Overview
The ‘Best Practice’ Approach
The ‘Best Fit’ Approach
The Contingency Model
The Resource-Based Model
Balancing and Internal Fit
Which is Best?
A Basic Model for Strategic Performance and Reward Practice
Chapter Summary
Discussion Questions
Part 2 – Performance Management in Action
Chapter Five – Managing for Results
What are ‘Results’?
Measuring Results: KRAs, KPIs and Goals
The Promise and the Perils of Measuring Results
Goal-Setting
The Balanced Scorecard
Chapter Summary
Discussion Questions
Chapter Six – Managing Behaviour
Overview
Sources of Behavioural Information
Managing Unreliability in Behavioural Observation and Assessment
Behavioural Assessment Methods
Some Common Flaws in Behavioural Rating Instruments
Assessing Behavioural Assessment
Chapter Summary
Discussion Questions
Chapter Seven – Managing Competencies
The ‘Competencies’ Construct and Competency-Based Human Resource Management
Competency Analysis, Modelling and Validation
Competency Assessment
Assessing The Competencies Approach
Chapter Summary
Discussion Questions
Chapter Eight – Performance Review and Development
Overview
Performance Assessment Diagnosis
Performance Review Meetings
Providing Negative Feedback
Remedying Under-Performance: Counselling and Action Planning
Developing High Performance: Mentoring and Coaching
Chapter Summary
Discussion Questions
Part 2 Case Study – Delivering Fairness—Performance Assessment at Mercury Couriers
Overview
Mercury Couriers
Part 3 – Base Pay and Benefits
Chapter Nine – Base Pay Purpose and Options
‘Base Pay’: What And Why
Pay for the Position Versus Pay for Personal Skills or Competencies
Pay for Jobs, Skills or Competencies?
The Incidence of Job-Based, Skill-Based and Competency-Based Pay
Chapter Summary
Discussion Questions
Chapter Ten – Base Pay Structures
Overview
Pay Scales
Narrow Grades
Broad Grades
Broad Bands
‘Best Fit’ Considerations
Chapter Summary
Discussion Questions
Chapter Eleven – Developing Position-Based Base Pay Systems
Market Surveys
Job Evaluation: Purpose And Methods
Points-Factor Evaluation: For And Against
Job Evaluation And Gender-Related Pay Discrimination
Developing A Narrow-Graded Base Pay Structure
Chapter Summary
Discussion Questions
Chapter Twelve – Developing Person-Based Base Pay Systems
Developing a Skill-Based Pay System
Developing Competency-Based and Competency-Related Base Pay Systems
Chapter Summary
Discussion Questions
Chapter Thirteen – Employee Benefits
Overview
Benefit Plans: Purpose and Drivers
Retirement or Superannuation Plans
Health Care and Other Forms of Personal Insurance
Leave and Carer Benefits
Other ‘Fringe’ Financial Benefits
Other Non-Financial Benefits
Fixed Plans, Flexible Plans and Plan Design
Chapter Summary
Discussion Questions
Part 3 Case Study – Just Rewards—Rethinking Base Pay and Benefits at Court, Case & McGowan, Commercial Law Partners
The Firm’s Strategy And Structure
Pay For Position; Promotion For Performance
What Simon Says
Fiona’s Challenge: A New Reward Approach
Part 4 – Rewarding Employee Performance
Chapter Fourteen – Overview of Performance-Related Rewards
What is Performance-Related Pay?
Types of Performance-Related Reward
The Use of Performance-Related Rewards
General Objectives of Performance-Related Reward Plans
Economic Effectiveness of Performance-Related Rewards
Performance-Related Rewards and the Management of Culture
Just Rewards?
Weighing Up the Arguments and Evidence
Chapter Summary
Discussion Questions
Chapter Fifteen – Merit Pay for Individual Performance
Merit Increments
The Merits and Demerits of Merit Increments
Merit Bonuses
The Effectiveness of Merit Pay
Merit Pay in the Public Sector
Best Fit with Merit Pay
Chapter Summary
Discussion Questions
Chapter Sixteen – Recognition Awards
The Logic of Recognition Plans
Cash Recognition
Non-Cash Recognition
Non-Cash Recognition: for and Against
Best Fit with Recognition Plans
Chapter Summary
Discussion Questions
Chapter Seventeen – Results-Based Individual Incentives
Standard Piece Rates
‘Scientific’ Piece Rates
Task-and-Time Bonus Plans
Sales Commissions
Goal-Based Individual Bonuses
Chapter Summary
Discussion Questions
Chapter Eighteen – Collective Short-Term Incentives
Collective Incentives – Rationale and Options
Profitsharing
Gainsharing
Goalsharing
Team Incentives
‘Best Fit’ with Short-Term Collective Incentives
Chapter Summary
Discussion Questions
Chapter Nineteen – Collective Long-Term Incentives
Overview of Employee Share Ownership
The Potential of Equity-Based Rewards
Share Grants
Share Purchase Plans
Share Option Plans
‘Best Fit’ with Collective Long-Term Incentives
Chapter Summary
Discussion Questions
Chapter Twenty – Executive Incentives
Corporate Governance and Executive Motivation and Reward
Executive Incentives: Components and Trends
Short-Term Cash Incentive Plans
Long-Term Equity-Based Incentive Plans
External Regulation and Mandatory Reporting
Firms’ Performance, Executives’ Reward and Managerial Power
Implications for Effective Executive Reward Practice
Chapter Summary
Discussion Questions
Part 4 Case study – Beyond the Hard Sell—Performance Incentives at Southbank
The Culture of Selling
The Crisis and the Coup
The Context
The Challenge
Part 5 – Fitting It All Together
Chapter Twenty-One – System Review, Change and Development
Overview
A Framework for System Development
Basic Strategic Requirements
Practice Review
Recommending Best Fit Practices
Determining a Performance Management Method
Determining Reward Mix
Determining Remuneration Level
Best Fit Practices for Sustainability and Success
Rehearsal
Forecasting Costs and Benefits
Piloting and Preparatory Planning
Roll-Out
Chapter Summary
Discussion Questions
Appendix— Model Responses to Case Studies
Part 2 Case Study—Delivering Fairness: Performance Assessment at Mercury Couriers
Part 3 Case Study—Just Rewards: Rethinking Base Pay and Benefits at Court, Case & McGowan, Commercial Law Partners
Base Pay
Performance Assessment and Reward
Part 4 Case Study—Beyond the Hard Sell: Redesigning Performance-Related Rewards at Southbank
References
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