Strategic Compensation Management (Third Edition)

Author: Martochio / Liu Xiaogang / Tong Jia
Publisher:
Publish Date: 2005-11-01
Features: In the process of revising this new edition of the translation series on human resource management, on the one hand, we focus on absorbing many new insights from Chinese academia in the field of human resource management in recent years, as well as the new developments in Chinese human resource management practices, and comprehensively correct individual translation methods in the previous edition. On the other hand, we faithfully convey the concepts, methods, and tools intended to be communicated by this new edition of the translation series to a broad Chinese readership. Many people do not understand the immense effort we have invested in this translation work. They believe that China has already moved beyond the stage of importing knowledge and can fully develop its own human resource management system. However, we do not hold this view. As a science, human resource management has a decades-long history of development in Western countries, while in China, both human resource management research and practice are still in their early stages of development. Many human resource managers in our companies still lack a thorough understanding of human resource management, even though they can name many concepts, theories, tools, and methods related to it. However, their understanding is not deep enough, resulting in a failure to achieve the level of human resource management functions that many Western companies have reached. Therefore, we believe that before fundamentally understanding the theoretical origins, development, and core essence of Western human resource management, it is best not to rashly conclude that Western approaches are no longer useful.
— Dong Kui
This book takes strategic compensation as its core, with the implementation process as its thread, and deeply explores compensation design plans and scientific management methods, closely linking plans, tools, and concepts. From evaluation, design to application, it introduces a complete scientific system in a well-structured and focused manner. Combined with specific cases, each tool and method is made universal, practical, and easy to implement. Specifically, the book consists of 5 parts and 14 chapters, discussing the steps to formulate strategic compensation, the basis of wages, designing compensation systems, employee benefits, and the challenges of contemporary strategic compensation. The book views compensation as a potential means for enterprises to enhance their competitive advantage, emphasizing that compensation strategies should be formulated at the corporate strategy level, based on the company's competitive strategy and changes in internal and external environments. As a functional management activity, compensation management must align with the needs of organizational strategic management. The design of strategic compensation should strengthen the organization's competitive advantage and facilitate the achievement of organizational goals. How can you effectively allocate your funds? How can you establish a scientific compensation system? How can you maximize the motivational effects of compensation? By reading and studying this book, you will gain insights into solving these questions. This book is suitable for senior undergraduate students, MBAs, and graduate students in human resource management, as well as professionals in related fields and corporate management personnel.