Compensation 13th Edition by George Milkovich
By: George Milkovich
Publisher: McGraw-Hill Higher Education
Print ISBN: 9781260043723, 126004372X
eText ISBN: 9781260486100, 1260486109
Edition: 13th
Copyright year: 2020
This book focuses on the strategic choices in managing compensation. We introduce
these choices, real-world issues that managers confront from New York to New Zealand
and all points between, in the total compensation model in Chapter 1. This model provides
an integrating framework that is used throughout the book. Major compensation
issues are discussed in the context of current theory, research, and practice. The practices
illustrate new developments as well as established approaches to compensation decisions.
We live in interesting times. Anywhere you look on the globe today, economic and
social pressures are forcing managers to rethink how people get paid and what difference
it makes. Traditional approaches to compensation are being questioned. But what is
being achieved by all this experimentation and change? What is merely fad and fashion,
and what, instead, is supported by the evidence? In this book, we strive to separate beliefs
from facts, wishful thinking from demonstrable results, and opinions from research.
Yet when all is said and done, managing compensation is part science, but also part art.
Each chapter contains at least one e-Compensation box to point you to some of
the vast compensation information on the Internet. Real-life Your Turn cases ask you
to apply the concepts and techniques discussed in each chapter. For example, the
Your Turn in Chapter 9 draws on Professor Newman?s experience when he worked
undercover for 14 months in seven fast-food restaurants. The case takes you into the
gritty details of the employees? behaviors (including Professor Newman?s) during
rush hour, as they desperately worked to fill customers? orders and meet their own
performance targets set by their manager. You get to recommend which rewards will
improve employees?
performance (including Professor Newman?s) and customers? satisfaction.
We tackle major compensation issues from three sides: theory, research, and
practice?
no problem can survive that onslaught!
