Compensation: Theory, Evidence, and Strategic Implications (Paperback)  | Released: 06 May 2008

Compensation: Theory, Evidence, and Strategic Implications provides a comprehensive, research-based review of both the determinants and effects of compensation. Combining theory and research from a variety of disciplines, authors Barry Gerhart and Sara L Rynes examine the three major compensation decisions?pay level, pay structure, and pay delivery systems.Revealing the impact of different compensation policies, this interdisciplinary volume examines - The relationship between performance-based pay and intrinsic motivation- Implications of individual pay differentials for team or unit performance- The consequences of pay for performance policies- Effect sizes and practical significance of compensation findings- Directions for future researchCompensation: Theory, Evidence, and Strategic Implications considers why organizations pay people the way they do and how various pay strategies influence the success of organizations. Critically evaluating areas where research is inconsistent with common beliefs, Gerhart and Rynes explore the motivational effects of compensation.Primarily intended for graduate students in human resource management, psychology, and organizational behavior courses, this book is also an invaluable reference for compensation management consultants and organizational development specialists.Table of ContentsIntroduction to the Series DAVID A WHETTENAcknowledgmentsI: INTRODUCTION: THE ENIGMAS OF COMPENSATIONObjectivesOutline of the BookII: DIFFERENCES IN PAY LEVEL: WHY DO SOME COMPANIES PAY MORE THAN OTHERS?A Tale of Two MarketsThe Case for Limited Discretion: Neoclassical Economic TheoryPost-Institutional Economics: Theory Meets RealityWhy it May Pay to Pay MoreThe International DimensionDifferences in Pay Levels for Particular JobsResearch on Pay Level Decision MakingSummaryResource 2.1III: EFFECTS OF PAY LEVEL: WHAT DO EMPLOYERS GET IN RETURN FOR HIGHER PAY?Theories of the Importance of Pay to IndividualsWhat do Employers get in Return for Higher Pay Levels?Future ResearchIV: PAY STRUCTURE: RELATIVE PAY WITHIN ORGANIZATIONSThe Role of Jobs and Job Evaluation in Pay StructureTheories of Differences in Pay StructureWork-Life IncentivesEmpirical Research on the Effects of Pay StructureFuture ResearchV: PAY BASIS: THEORIES OF MOTIVATION AND PAY FOR PERFORMANCEEffects of Pay and Motivational Programs on Performance: Meta-Analytic ResultsTheories of Pay-Performance RelationshipsPsychological Versus Economic PerspectivesWorkforce Composition, Sorting, and Personality-Based TheoriesFuture ResearchVI: PAY-FOR-PERFORMANCE PROGRAMS: EMPIRICAL EVIDENCEBroad Policy DecisionsPutting it all Together: Empirical Evidence on Pay ProgramsSummaryFuture ResearchVII: PAY STRATEGYStrategic Fit and AlignmentBeyond Generic Strategies: The Resource-Based View of the FirmBeyond Direct Earnings: Total RewardsSummary and Future ResearchVIII: TOWARD THE FUTUREFuture ResearchMethodological RecommendationsReferencesIndex Table of Contents: Contents Introduction to the Series Acknowledgements 1. Introduction: The Enigmas of Compensation 2. Differences in Pay Level: Why Do Some Companies Pay More Than Others? 3. Effects of Pay Level: What Do Employers Get in Return for Higher Pay? 4. Pay