Compensation management

Author: Liu Xin
Publisher:
Publish Date: 2002-11-01
Features: The book "Compensation Management" is compiled based on the teaching materials of the same course delivered by the author to undergraduate and postgraduate students at the School of Labor and Human Resources Management of Renmin University of China. The book aims to provide readers with a broad perspective on compensation management, explaining its role and significance in modern enterprises from the height of business operations and strategy, as well as the perspective of the overall human resource management system. The book not only offers theoretical interpretations of compensation and related management topics from multidisciplinary viewpoints such as management and economics, but also emphasizes meeting the practical operational needs of a significant number of readers. It explains core compensation management techniques—such as job evaluation, compensation structure and grade design, performance-based rewards and recognition programs, and compensation design for different types of employees—in the form of examples as much as possible. Compensation management is a specialized field within human resource management that requires a high level of technical expertise. It demands that compensation professionals possess comprehensive knowledge of human resource management, a broad outlook, an understanding of the company's business operations and processes, as well as a keen cost awareness and the ability to analyze the cost-effectiveness of various compensation plans. Additionally, during the design and implementation of compensation, the communication skills of compensation professionals with decision-makers, other managers, and ordinary employees are also crucial. All these aspects are reflected to varying degrees in this book. It can be said that the purpose of this book is to help insightful readers become true masters of compensation management, enabling them to design and refine distinctive compensation policies and systems tailored to their company's specific environment, business needs, and human resource strategy, rather than merely acting as passive executors or operators of compensation systems.