The New Pay: Linking Employee and Organizational Performance

By Jay R. Schuster and Patricia K. Zingheim

When change is underway, pay can be a powerful communicator of values and directions. And in today's challenging business environment, the need to use pay strategically is more important than ever as organizations and their leaders look for ways to improve outcomes, performance, productivity, and teamwork. Linking rewards to business goals and competencies is essential to gain competitive advantage through people. Based on extensive research with Fortune 100 companies and on their own consulting work with companies in various industries worldwide, Jay R. Schuster and Patricia K. Zingheim offer a powerful strategy for making pay a positive force for organizational excellence. This pioneering work includes the first "best practices" study to show the impact of pay practices on organizational performance. With numerous sample pay strategies and examples of pay tools that can be adapted to a wide range of situations, the authors provide how-to guidance to executives, managers, and human resource and compensation specialists--anyone responsible for developing base pay, incentive, and benefit plans. Where traditional models of compensation and reward no longer serve the best interests of organizations and the employees who must make companies succeed, The New Pay provides the critical tools for creating a total compensation strategy and pay programs that add value and support organizational success.

• Format: Paperback
• Language: English
• ISBN: 078790273X
• ISBN13: 9780787902735
• Release Date: September 1996
• Publisher: Jossey-Bass
• Length: 384 Pages
• Weight: 1.30 lbs.
• Dimensions: 9.6" x 1.1" x 6.3"

Customer Reviews

A pioneering study on the new pay !!!

As written by Schuster and Zingheim "understanding what pay and benefits can do to help organizations succeed is essential and best learned early in a career. Edward Lawler's Strategic Pay and this book were the first books to address pay outside of the context of traditional pay grounded in the 1940's, when challenges and opportunities were remarkably different from what are today."Within the context of comparison between the new pay and traditional pay approaches Schuster and Zingheim discuss some crucial concepts such as :* base pay (market-based pay/skill-based pay, job-based pay)* variable pay (group performance, individual performance)* indirect pay (obtained results, employee's tenure)* job evaluation (external/market based equity, internal/point factor based equity)I higly recommend this pioneering study to HR professionals.See also :*J. Schuster and P. Zingmeim-Pay People Right, *T. Wilson-Rewards That Drive High Performance, *H. Risher-Aligning Pay and Results,*J. Belcher-How to Design and Implement A Results-Oriented Variable Pay System