Compensation

●New to this Edition
1.This edition gives greater emphasis to the importance of total compensation and its relevance for achieving sustainable competitive advantage. The authors believe that HOW people are paid really matters - not just how much they are paid. Managing pay means insuring that the right people get the right pay for achieving objectives in the right way.

2.Discussion of up-to-date trends and practices: performance-based pay, person-based plans versus job-based plans, skill and competency approaches to compensation, the impact of outsourcing and global competition on compensation, market pricing, executive compensation, the impact of technology on compensation systems, as well as ethical issues affecting compensation practices.

3.New ch.s on performance-based pay dig into all forms of variable pay such as stock options, profit sharing, gain sharing, and team-based approaches.

4.In response to reviewer feedback, Ch.14 broadens its discussion of board of director compensation, executive compensation, and sales compensation.