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Description: Deciding how to effectively reward staff can be one of the most difficult and contentious areas in people management. Getting it right can help promote an engaged workforce, and significantly improve recruitment and retention. But how do you decide what pay range is suitable for which job and how do you design reward packages that recognize and value people according to the contribution they make?
The Reward Management Toolkit provides practical guidance on the steps required to develop and implement reward innovations and to manage key reward practices.
In each of the main areas of reward management, tools are provided in the form of questionnaires and checklists that can be used to:
¢ conduct reward surveys
¢ analyse reward arrangements
¢ assist in the diagnosis of problems
¢ plan development and implementation programmes
¢ assess risks
¢ evaluate reward effectiveness
The tools can be used by internal HR or reward specialists or external consultants involved in developing or evaluating reward systems. Importantly, they can play an essential part in the involvement of people in these processes through attitude surveys, focus groups, workshops and project teams.
The tools are also available to download from the Kogan Page website, and they can be adapted for your use.
Contents: Introduction: The tools and how they are used ¢ Reward reviews ¢ Introduction ¢ Purpose of the tool ¢ The reward review process ¢ Conducting the review ¢ Conclusions, recommendations and action planning ¢ Reward strategy ¢ Introduction ¢ Purpose of the tool ¢ Contents of the tool ¢ Total rewards ¢ Introduction ¢ Purpose of the tool ¢ Contents of the tool ¢ Models of total rewards ¢ Introducing total rewards ¢ Reward risk management ¢ Introduction ¢ The risk management process ¢ Developing a framework for managing risk ¢ Risk identification ¢ Risk assessment ¢ Controlling risk ¢ Risk monitoring and review ¢ Key learnings ¢ Job evaluation ¢ Introduction ¢ Types of job evaluation ¢ Purpose and contents of the tool ¢ Step 1 : Analyse present job evaluation arrangements ¢ Step 2 : Decide approach to job evaluation in principle ¢ Step 3 : Select and brief project team ¢ Step 4 : Develop communications strategy ¢ Step 5 : Decide on features of new scheme ¢ Step 6 : Prepare project programme ¢ Step 7 : Develop basic factor plan ¢ Step 8 : Select and analyse test jobs ¢ Step 9 : Test basic factor plan ¢ Step 10 : Amend basic factor plan as necessary ¢ Step 11 : Decide on weighting ¢ Step 12 : Produce full factor plan ¢ Step 13 : Consider software support ¢ Step 14 : Apply scheme to benchmark jobs ¢ Step 15 : Conduct market rate analysis ¢ Step 16 : Design grade and pay structure ¢ Step 17 : Develop analytical matching approach ¢ Step 18 : Implement ¢ Market analysis ¢ Introduction ¢ The market analysis process ¢ Step 1 : Preparation ¢ Step 2 : Choosing jobs for external comparison ¢ Step 3 : Defining data collection criteria ¢ Step 4 : Matching jobs to the external market ¢ Step 5 : Analysing and interpreting data ¢ Step 6 : Presenting results ¢ Base pay management ¢ Introduction ¢ Purpose of the tool ¢ Contents of the tool ¢ The grade and pay structure design sequence ¢ Analysis of present arrangements ¢ Choice of structure ¢ Selection and development of job evaluation scheme ¢ Definition of guiding principles ¢ Design options ¢ Graded pay structure design ¢ Broad-banded structure design ¢ Career family structure design ¢ Job family structure design ¢ Assimilation policy ¢ Protection policy ¢ Implementing new grade and pay structures ¢ Contingent pay ¢ Introduction ¢ Purpose and contents of the tool ¢ The design and development sequence ¢ Analysis of context and opinions ¢ Readiness for contingent pay ¢ Define guiding principles ¢ Set objectives for the scheme ¢ Project planning ¢ Design scheme ¢ Conduct pilot scheme ¢ Implement scheme ¢ Evaluate scheme ¢ Bonus Schemes ¢ Introduction ¢ Purpose of the tool ¢ Schemes defined ¢ Developing a bonus scheme ¢ Stage 1 : Agree direction ¢ Stage 2 : Design scheme ¢ Stage 3 : Introduce scheme ¢ Stage 4 : Manage scheme ¢ Stage 5 : Evaluate scheme ¢ Executive remuneration ¢ Introduction ¢ Purpose of the tool ¢ Contents of the tool ¢ Guiding principles ¢ Remuneration committees ¢ Total remuneration policy ¢ Base pay ¢ Bonus schemes ¢ Longer-term incentive plans ¢ Clawback policy ¢ Service contracts ¢ Pensions and other benefits ¢ International reward ¢ Introduction ¢ Purpose of the tool ¢ International reward strategy guiding principles ¢ Survey of reward programmes ¢ Gap analysis ¢ Convergence/divergence policy ¢ Remuneration of expatriates ¢ Employee benefits ¢ Introduction ¢ Purpose and contents of the tool ¢ Conducting an employee benefits review ¢ Defining employee benefits objectives ¢ Reviewing employee benefits arrangements ¢ Developing employee benefits package ¢ Introducing flexible benefits ¢ Communicating to employees ¢ Pay review ¢ Introduction ¢ Purpose and contents of the tool ¢ Pay review policy ¢ General reviews ¢ Individual reviews ¢ Evaluating reward ¢ Introduction ¢ Purpose and contents of the tool Aims ¢ Fundamental questions ¢ Methods of evaluation ¢ Reward measurement ¢ Reaching a conclusion
About the Authors: Michael Armstrong is a former chief examiner of the Chartered Institute of Personnel and Development (CIPD), managing partner of e-reward and an independent management consultant. He has sold over 500,000 books on the subject of HRM (published by Kogan Page), including Armstrong`s Handbook of Human Resource Management Practice, now in its 11th edition.
Ann Cummins is an independent adviser specializing in reward and performance management. She has previously co-authored two books with Michael Armstrong on job evaluation. Formerly a partner at international human resources consultancy Towers Perrin, she has consulted through her own company, Humanus, for the last 11 years.
Special prices are applicable to the authorised sales territory only.
Prices are subject to change without prior notice. ISBN 9780749461676
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Pages : 240
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