Compensation

Compensation

11th Edition

By George Milkovich and Jerry Newman and Barry Gerhart

  • Copyright: 2014

  • Publication Date: January 10, 2013

  • ISBN 10: 007802949X

  • ISBN 13: 9780078029493

Description

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Compensation, 11th Edition, by Milkovich, Newman and Gerhart is the market-leading text in this course area. It offers instructors current research material, in depth discussion of topics, integration of Internet coverage, excellent pedagogy, and a truly engaging writing style. The authors consult with leading businesses, have won teaching awards, and publish in the leading journals. This text examines the strategic choices in managing total compensation. The total compensation model introduced in chapter one serves as an integrating framework throughout the book. The authors discuss major compensation issues in the context of current theory, research, and real-business practices. Milkovich, Newman and Gerhart strive to differentiate between beliefs and opinions from facts and scholarly research. They showcase practices that illustrate new developments in compensation practices as well as established approaches to compensation decisions. Time after time, adopters relay stories of students getting job offers based on the knowledge they learned from this book.

  • Language: English

  • Imprint: Irwin/McGraw-Hill

  • Dimension: 7.3 x 9.4 IN

  • Page Count: 736

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Part One-Introducing the Pay Model and Pay Strategy

Chapter 1: The Pay Model

Chapter 2: Strategy: The Totality of Decisions

Part Two-Internal Alignment: Determining the

Table of Contents

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Part One-Introducing the Pay Model and Pay Strategy

Chapter 1: The Pay Model

Chapter 2: Strategy: The Totality of Decisions

Part Two-Internal Alignment: Determining the Structure

Chapter 3: Defining Internal Alignment

Chapter 4: Job Analysis

Chapter 5: Job-Based Structures and Job Evaluation

Chapter 6: Person-Based Structures

Part Three-External Competitiveness: Determining the Pay Level

Chapter 7: Defining Competitiveness

Chapter 8: Designing Pay Levels, Mix, and Pay Structures

Part Four-Employee Contributions: Determining Individual Pay

Chapter 9: Pay-for-Performance: The Evidence

Chapter 10: Pay-for-Performance Plans

Chapter 11: Performance Appraisals

Part Five-Employee Benefits

Chapter 12: The Benefit Determination Process

Chapter 13: Benefit Options

Part Six-Extending the System

Chapter 14: Compensation of Special Groups

Chapter 15: Union Role in Wage and Salary

Administration

Chapter 16: International Pay Systems

Part Seven-Managing the System

Chapter 17: Government and Legal Issues in Compensation

Chapter 18: Management: Making It Work

New Features

  • All chapters have been revised. Each includes updated comparison of the pay strategies or practices used in specific, named companies. Some of these are well established and successful (Apple, IBM, Microsoft, Merrill Lynch, Nucor, Toyota), some face real problems (American Airlines, Best Buy, General Motors), and others are using unique practices (Google, Whole Foods).
  • Greater emphasis is given to theoretical advances and evidence from research. Throughout the book the authors translate the evidence into guidance for improving the management of pay.
  • Chapters 12 and 13 have been heavily revised, reflecting the warp speed changes in benefits’ practices.
  • New! Nucor, a manufacturing success story in the United States, is now highlighted in Chapters 1 and 2.
  • CourseSmart eBook (ISBN: 9780077512897): Students can save money and obtain online access to their textbook, anywhere, anytime, or choose to download a copy of the text to their computers’ hard drives. Students can take advantage of a smarter way to learn with search capabilities, highlighting and note taking features, and more. The CourseSmart e-books is compatible with many mobile devices, including the new Apple iPad.
  • CREATE, our Custom Textbook Option Craft your teaching resources to match the way you teach! With McGraw-Hill Create, www.mcgrawhillcreate.com, you can easily rearrange chapters, combine material from other content sources, quickly upload content you have written like your course syllabus or teaching notes, then personalize your book's appearance by selecting the cover and adding your name, school, and course information. Find the content you need in Create by searching through thousands of leading McGraw-Hill textbooks. Arrange your book to fit your teaching style. Order a Create book and you'll receive a complimentary print review copy in 3 – 5 business days or a complimentary electronic review copy (eComp) via email in about one hour. Go to www.mcgrawhillcreate.com today and register. Experience how McGraw-Hill Create empowers you to teach your students your way.

Key Features

  • The 11th edition continues to emphasize the importance of total compensation advantage and reinforces the idea that beyond how much people are paid, how they are paid really matters.
  • Ethics, values and the apparent absence of standards of conduct in compensation management, so widely reported in today’s headline news and dissected in blogs, are discussed throughout.
  • Your Turn Exercises are real-life exercises that ask the student to apply the concepts and techniques discussed in each chapter.
  • In each chapter, Internet Exercises called "e-Compensation" help students learn where to find compensation material on the web.
  • The global flavor of this text has been retained; it contains an international chapter plus global examples throughout all chapters.
  • The authors also publish Cases in Compensation, an integrated case designed to provide additional practical skills applying the material in this book. The casebook is NOT a McGraw-Hill/Irwin product, but it is made available directly from the authors (telephone 310-450-5301; e-mail gtm1@cornell.edu). Completing the integrated case helps students develop skills readily transferable to future jobs and assignments. Instructors are invited to call for more information on how Cases in Compensation can help translate compensation research and theory into practice and build competencies for on the job decisions.

Features

x

New Features

  • All chapters have been revised. Each includes updated comparison of the pay strategies or practices used in specific, named companies. Some of these are well established and successful (Apple, IBM, Microsoft, Merrill Lynch, Nucor, Toyota), some face real problems (American Airlines, Best Buy, General Motors), and others are using unique practices (Google, Whole Foods).
  • Greater emphasis is given to theoretical advances and evidence from research. Throughout the book the authors translate the evidence into guidance for improving the management of pay.
  • Chapters 12 and 13 have been heavily revised, reflecting the warp speed changes in benefits’ practices.
  • New! Nucor, a manufacturing success story in the United States, is now highlighted in Chapters 1 and 2.
  • CourseSmart eBook (ISBN: 9780077512897): Students can save money and obtain online access to their textbook, anywhere, anytime, or choose to download a copy of the text to their computers’ hard drives. Students can take advantage of a smarter way to learn with search capabilities, highlighting and note taking features, and more. The CourseSmart e-books is compatible with many mobile devices, including the new Apple iPad.
  • CREATE, our Custom Textbook Option Craft your teaching resources to match the way you teach! With McGraw-Hill Create, www.mcgrawhillcreate.com, you can easily rearrange chapters, combine material from other content sources, quickly upload content you have written like your course syllabus or teaching notes, then personalize your book's appearance by selecting the cover and adding your name, school, and course information. Find the content you need in Create by searching through thousands of leading McGraw-Hill textbooks. Arrange your book to fit your teaching style. Order a Create book and you'll receive a complimentary print review copy in 3 – 5 business days or a complimentary electronic review copy (eComp) via email in about one hour. Go to www.mcgrawhillcreate.com today and register. Experience how McGraw-Hill Create empowers you to teach your students your way.

Key Features

  • The 11th edition continues to emphasize the importance of total compensation advantage and reinforces the idea that beyond how much people are paid, how they are paid really matters.
  • Ethics, values and the apparent absence of standards of conduct in compensation management, so widely reported in today’s headline news and dissected in blogs, are discussed throughout.
  • Your Turn Exercises are real-life exercises that ask the student to apply the concepts and techniques discussed in each chapter.
  • In each chapter, Internet Exercises called "e-Compensation" help students learn where to find compensation material on the web.
  • The global flavor of this text has been retained; it contains an international chapter plus global examples throughout all chapters.
  • The authors also publish Cases in Compensation, an integrated case designed to provide additional practical skills applying the material in this book. The casebook is NOT a McGraw-Hill/Irwin product, but it is made available directly from the authors (telephone 310-450-5301; e-mail gtm1@cornell.edu). Completing the integrated case helps students develop skills readily transferable to future jobs and assignments. Instructors are invited to call for more information on how Cases in Compensation can help translate compensation research and theory into practice and build competencies for on the job decisions.

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About the Authors

George Milkovich

George T. Milkovich is the M. P. Catherwood Professor at the ILR School, Cornell University. He studies and writes about how people get paid and what difference it makes. People's compensation has been his interest for over 30 years. His research has resulted in numerous publications. Four have received national awards for their contributions.

Jerry Newman

Jerry Newman (B.A., U of Michigan; M.A., Ph.D, U of Minnesota) is Distinguished Professor of Organization and Human Resources at the State University of New York at Buffalo.

Barry Gerhart

BARRY GERHART is Professor of Management and Human Resources and the Bruce R. Ellig Distinguished Chair in Pay and Organizational Effectiveness, School of Business, University of Wisconsin-Madison. He has also served as department chair or area coordinator at Cornell, Vanderbilt, and Wisconsin. His research interests include compensation, human resource strategy, international human resources, and employee retention. Professor Gerhart received his BS in psychology from Bowling Green State University and his PhD in industrial relations from the University of Wisconsin-Madison. His research has been published in a variety of outlets, including the Academy of Management Annals, Academy of Management Journal, Annual Review of Psychology, International Journal of Human Resource Management, Journal of Applied Psychology, Management and Organization Review, and Personnel Psychology. He has co-authored two books in the area of compensation. He serves on the editorial boards of journals such as the Academy of Management Journal, Industrial and Labor Relations Review, International Journal of Human Resource Management, Journal of Applied Psychology, Journal of World Business, Management & Organization Review, and Personnel Psychology. Professor Gerhart is a past recipient of the Heneman Career Achievement Award, the Scholarly Achievement Award, and of the International Human Resource Management Scholarly Research Award, all from the Human Resources Division, Academy of Management. He is a Fellow of the Academy of Management, the American Psychological Association, and the Society for Industrial and Organizational Psychology.