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Remuneration Handbook : Fourth Updated Edition.

By: Material type: TextTextPublisher: Randburg : Knowledge Resources, 2019Copyright date: ©2019Edition: 4th edDescription: 1 online resource (502 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781869228279
Subject(s): Genre/Form: Additional physical formats: Print version:: Remuneration HandbookDDC classification:
  • 658.3142
LOC classification:
  • HF5549.5.I5
Online resources:
Contents:
Front Cover -- Title Page -- Endorsements -- Copyright -- Full Title Page -- Acknowledgements -- Foreword -- Contents -- About the author -- List of contributors -- Acronyms used -- Chapter 1 Organisation Strategy and Remuneration Policy -- 1.1 Introduction -- 1.2 Context -- 1.3 Organisation strategy -- 1.4 Flexible reward practices -- 1.5 Multi-dimensional construct of reward -- 1.6 Remuneration strategy -- 1.7 Remuneration policy -- 1.8 Role of the remuneration committee -- 1.9 Conclusion -- 1.10 Summary -- 1.11 Endnotes -- Chapter 2 Job Roles and Competence -- 2.1 Overview -- 2.2 Terminology -- 2.3 Uses for job descriptions -- 2.4 Factors influencing jobs -- 2.5 Planning and preparation for job description writing -- 2.6 Understanding a typical job description form -- 2.7 The job description interview -- 2.8 Writing up the job description -- 2.9 Checking and obtaining commitment to a job description -- 2.10 Summary -- Chapter 3 Job Evaluation -- 3.1 Introduction -- 3.2 The need for job evaluation -- 3.3 When should job evaluation be used? -- 3.4 Terminology -- 3.5 Why job evaluation? -- 3.6 Benefits of job evaluation -- 3.7 Understanding the organisation structure -- 3.8 Information for recruitment -- 3.9 Further benefits -- 3.10 Job evaluation process -- 3.11 Job descriptions and job grading (stage 1) -- 3.12 Why job evaluation systems fail -- 3.13 Choice of a job evaluation system -- 3.14 Categorisation of job evaluation systems -- 3.15 Points to remember when evaluating jobs -- 3.16 Job evaluation: frequently asked questions and sample answers -- 3.17 Summary -- Chapter 4 Broad-banding -- 4.1 Broad-banding -- 4.2 Reasons for implementing broad-banding -- 4.3 Implementation of the broad-banding strategy -- 4.4 Paradigm shifts: new versus traditional business models -- 4.5 The customer-driven approach -- 4.6 Broad-banding fundamentals.
4.7 The mechanics of broad-banding -- 4.8 Job family design -- 4.9 Pay administration -- 4.10 Benefits of broad-banding -- 4.11 Potential results of broad-banding -- 4.12 Development -- 4.13 Changes to organisational structure -- 4.14 Essentials for implementation of broad-banding -- 4.15 Readiness matrix example -- 4.16 Practical toolkit to prepare for broad-banding -- 4.17 Summary -- 4.18 Endnotes -- Chapter 5 Individual Performance-, Competence- and Skills-based Pay -- 5.1 Definitions, reasons for, and objectives of performance-related pay -- 5.2 The mechanics of PRP -- 5.3 Critical success factors for PRP -- 5.4 Definitions, reasons and objectives of competency-based pay -- 5.5 The mechanics of CBP -- 5.6 Competency-based reward systems -- 5.7 Comparison of mechanics of PRP and CBP -- 5.8 Skills-based pay -- 5.9 The mechanics of skills-based pay -- 5.10 Critical success factors: integration of PRP, CBP and SBP -- 5.11 Summary -- 5.12 Endnote -- Chapter 6 Pay Structures -- 6.1 Understanding what a pay structure is -- 6.2 Why organisations have pay structures -- 6.3 Features of well-designed pay structures -- 6.4 What influences the design of pay structures? -- 6.5 Developing a pay structure -- 6.6 Designing an effective pay structure -- 6.7 Terminology -- 6.8 Different pay structures: applications -- 6.9 Pay progression policy guidelines -- 6.10 Trends towards pay structure integration -- 6.11 Implementation of pay structures: a checklist -- 6.12 Summary -- 6.13 Endnote -- Chapter 7 Setting Pay Levels -- 7.1 Why use market surveys? -- 7.2 Statistics and definitions -- 7.3 Definitions -- 7.4 Regional and organisation variables -- 7.5 Job matching -- 7.6 Niche surveys -- 7.7 Published surveys -- 7.8 Other sources of pay data -- 7.9 Layout of information -- 7.10 Setting the CEO's pay -- 7.11 Guidelines for setting CEO and executive pay.
7.12 Selecting comparators for remuneration benchmarking -- 7.13 Summary -- 7.14 Endnotes -- Chapter 8 Total Packages -- 8.1 The remuneration model and where the total package fits in -- 8.2 What does "total package" mean? -- 8.3 Why the trend? -- 8.4 How the total package works -- 8.5 Package structuring options -- 8.6 A typical process -- 8.7 Do's and don'ts for traditional remuneration in the total package approach -- 8.8 Suggestions on software use -- 8.9 Role of HR and finance -- 8.10 Ongoing maintenance of the system -- 8.11 Summary -- Chapter 9 Payroll -- 9.1 Payroll management -- 9.2 The role of the payroll department -- 9.3 The payroll, HR and benefits manager's role -- 9.4 Items affecting payroll administration -- 9.5 Payroll trends -- 9.6 Integration of payroll and HR databases -- 9.7 Web-based solutions -- 9.8 Payroll services -- 9.9 Summary -- Chapter 10 Team-based Pay -- 10.1 Types of teams -- 10.2 Parallel teams and pay -- 10.3 Project teams and pay -- 10.4 Work teams and pay -- 10.5 Best practice guidelines -- 10.6 Why teams fail: research results -- 10.7 What makes a good team? -- 10.8 Different types of incentive plans -- 10.9 Design considerations -- 10.10 Performance measurement -- 10.11 Rewarding top performers -- 10.12 Pay - the final frontier -- 10.13 Advantages and disadvantages of various team incentive schemes -- 10.14 Some final thoughts on teams and pay -- 10.15 Conclusion -- 10.16 Summary -- 10.17 Endnotes -- Chapter 11 Sales Force Incentives -- 11.1 Introduction and context -- 11.2 Key sales remuneration definitions -- 11.3 Designing a total remuneration strategy for sales executives -- 11.4 Basic design issues -- 11.5 Types of sales remuneration plans -- 11.6 Sales roles as drivers -- 11.7 Sales roles change focus over time -- 11.8 Sales bonus or commission schemes: advantages and disadvantages.
11.9 The use of decelerators -- 11.10 Elements of a sales remuneration plan -- 11.11 Noncash incentives -- 11.12 Sales remuneration and the e-world -- 11.13 Cross-selling incentives -- 11.14 Sales manager incentives -- 11.15 Incentives for relationship management -- 11.16 Tax treatment -- 11.17 New sales roles -- 11.18 Summary -- Chapter 12 Variable Pay and Incentive Schemes -- 12.1 Variable pay and incentive schemes -- 12.2 Difference between variable pay and "pay at risk" -- 12.3 Why implement variable pay? -- 12.4 The business case for incentives and good rewards -- 12.5 Implementation considerations -- 12.6 Design considerations -- 12.7 Incentive scheme design and framework -- 12.8 Design process -- 12.9 Goals for incentive schemes -- 12.10 Non-negotiable principles for effective incentives -- 12.11 Choice of scheme -- 12.12 Size of the incentive award -- 12.13 Performance measures -- 12.14 Incentive award determination -- 12.15 Main features of various types of incentive schemes -- 12.16 Conclusion -- 12.17 Summary -- 12.18 Endnotes -- Chapter 13 How to Design an Incentive Scheme -- 13.1 Requirements of a functioning incentive scheme -- 13.2 Design and implement an incentive scheme -- 13.3 Summary -- 13.4 Endnotes -- Chapter 14 Long-Term Incentive Schemes -- 14.1 Share schemes defined -- 14.2 Elements of a share scheme -- 14.3 Taxation of participants -- 14.4 Factors affecting value to participants -- 14.5 Real shares or phantom shares for listed companies? -- 14.6 Accounting for share-based payments (IFRS 2) -- 14.7 Topping-up practice -- 14.8 Performance conditions -- 14.9 Legal aspects -- 14.10 Foreign listings -- 14.11 Design trends -- 14.12 Stakeholder requirements -- 14.13 Summary -- 14.14 Endnotes -- Chapter 15 International Assignment Remuneration -- 15.1 Context and linkage -- 15.2 Types of international employment.
15.3 Definitions and underlying philosophy -- 15.4 Approaches to international assignment remuneration -- 15.5 Positioning international assignment remuneration in the total reward system -- 15.6 Design considerations -- 15.7 Critical success factors -- 15.8 Current issues -- 15.9 Case study: guidelines to management -- 15.10 Sample expatriate philosophy for ABC Group -- 15.11 Summary -- 15.12 Endnote -- Chapter 16 Remuneration Trends in Africa -- 16.1 Introduction -- 16.2 South Africa -- 16.3 Botswana -- 16.4 Kenya -- 16.5 Ghana -- 16.6 Namibia -- 16.7 Zimbabwe -- 16.8 Lesotho -- 16.9 Swaziland -- 16.10 Mozambique -- 16.11 Nigeria -- 16.12 Conclusion -- 16.13 Summary -- 16.14 Endnotes -- Chapter 17 Retention and Engagement -- 17.1 Retention strategy framework -- 17.2 Remuneration options -- 17.3 Engagement -- 17.4 Hot skills -- 17.5 Business case for investing in employee engagement -- 17.6 The importance of measurement and benchmarks -- 17.7 Conclusion -- 17.8 Summary -- 17.9 Endnotes -- Chapter 18 Recognition -- 18.1 Context and linkage -- 18.2 Definitions and differences clearly understood -- 18.3 Positioning recognition in the total reward system -- 18.4 The business case for implementing a recognition system -- 18.5 Design considerations -- 18.6 Recognition schemes: the lottery -- 18.7 Critical success factors -- 18.8 "Virtual scorecard" approach -- 18.9 Case study: guidelines to management -- 18.10 Recognising employees -- 18.11 Conclusion -- 18.12 Summary -- 18.13 Endnotes -- Chapter 19 Remuneration Committees and Boardroom Pay -- 19.1 Background and context -- 19.2 Impact of pay policies on organisations -- 19.3 Remuneration frameworks and models -- 19.4 Structure of executive pay -- 19.5 Current trends and issues in linking executive pay to performance -- 19.6 Definition of the philosophy underlying executive remuneration programmes.
19.7 Why do we need a remuneration committee?.
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Front Cover -- Title Page -- Endorsements -- Copyright -- Full Title Page -- Acknowledgements -- Foreword -- Contents -- About the author -- List of contributors -- Acronyms used -- Chapter 1 Organisation Strategy and Remuneration Policy -- 1.1 Introduction -- 1.2 Context -- 1.3 Organisation strategy -- 1.4 Flexible reward practices -- 1.5 Multi-dimensional construct of reward -- 1.6 Remuneration strategy -- 1.7 Remuneration policy -- 1.8 Role of the remuneration committee -- 1.9 Conclusion -- 1.10 Summary -- 1.11 Endnotes -- Chapter 2 Job Roles and Competence -- 2.1 Overview -- 2.2 Terminology -- 2.3 Uses for job descriptions -- 2.4 Factors influencing jobs -- 2.5 Planning and preparation for job description writing -- 2.6 Understanding a typical job description form -- 2.7 The job description interview -- 2.8 Writing up the job description -- 2.9 Checking and obtaining commitment to a job description -- 2.10 Summary -- Chapter 3 Job Evaluation -- 3.1 Introduction -- 3.2 The need for job evaluation -- 3.3 When should job evaluation be used? -- 3.4 Terminology -- 3.5 Why job evaluation? -- 3.6 Benefits of job evaluation -- 3.7 Understanding the organisation structure -- 3.8 Information for recruitment -- 3.9 Further benefits -- 3.10 Job evaluation process -- 3.11 Job descriptions and job grading (stage 1) -- 3.12 Why job evaluation systems fail -- 3.13 Choice of a job evaluation system -- 3.14 Categorisation of job evaluation systems -- 3.15 Points to remember when evaluating jobs -- 3.16 Job evaluation: frequently asked questions and sample answers -- 3.17 Summary -- Chapter 4 Broad-banding -- 4.1 Broad-banding -- 4.2 Reasons for implementing broad-banding -- 4.3 Implementation of the broad-banding strategy -- 4.4 Paradigm shifts: new versus traditional business models -- 4.5 The customer-driven approach -- 4.6 Broad-banding fundamentals.

4.7 The mechanics of broad-banding -- 4.8 Job family design -- 4.9 Pay administration -- 4.10 Benefits of broad-banding -- 4.11 Potential results of broad-banding -- 4.12 Development -- 4.13 Changes to organisational structure -- 4.14 Essentials for implementation of broad-banding -- 4.15 Readiness matrix example -- 4.16 Practical toolkit to prepare for broad-banding -- 4.17 Summary -- 4.18 Endnotes -- Chapter 5 Individual Performance-, Competence- and Skills-based Pay -- 5.1 Definitions, reasons for, and objectives of performance-related pay -- 5.2 The mechanics of PRP -- 5.3 Critical success factors for PRP -- 5.4 Definitions, reasons and objectives of competency-based pay -- 5.5 The mechanics of CBP -- 5.6 Competency-based reward systems -- 5.7 Comparison of mechanics of PRP and CBP -- 5.8 Skills-based pay -- 5.9 The mechanics of skills-based pay -- 5.10 Critical success factors: integration of PRP, CBP and SBP -- 5.11 Summary -- 5.12 Endnote -- Chapter 6 Pay Structures -- 6.1 Understanding what a pay structure is -- 6.2 Why organisations have pay structures -- 6.3 Features of well-designed pay structures -- 6.4 What influences the design of pay structures? -- 6.5 Developing a pay structure -- 6.6 Designing an effective pay structure -- 6.7 Terminology -- 6.8 Different pay structures: applications -- 6.9 Pay progression policy guidelines -- 6.10 Trends towards pay structure integration -- 6.11 Implementation of pay structures: a checklist -- 6.12 Summary -- 6.13 Endnote -- Chapter 7 Setting Pay Levels -- 7.1 Why use market surveys? -- 7.2 Statistics and definitions -- 7.3 Definitions -- 7.4 Regional and organisation variables -- 7.5 Job matching -- 7.6 Niche surveys -- 7.7 Published surveys -- 7.8 Other sources of pay data -- 7.9 Layout of information -- 7.10 Setting the CEO's pay -- 7.11 Guidelines for setting CEO and executive pay.

7.12 Selecting comparators for remuneration benchmarking -- 7.13 Summary -- 7.14 Endnotes -- Chapter 8 Total Packages -- 8.1 The remuneration model and where the total package fits in -- 8.2 What does "total package" mean? -- 8.3 Why the trend? -- 8.4 How the total package works -- 8.5 Package structuring options -- 8.6 A typical process -- 8.7 Do's and don'ts for traditional remuneration in the total package approach -- 8.8 Suggestions on software use -- 8.9 Role of HR and finance -- 8.10 Ongoing maintenance of the system -- 8.11 Summary -- Chapter 9 Payroll -- 9.1 Payroll management -- 9.2 The role of the payroll department -- 9.3 The payroll, HR and benefits manager's role -- 9.4 Items affecting payroll administration -- 9.5 Payroll trends -- 9.6 Integration of payroll and HR databases -- 9.7 Web-based solutions -- 9.8 Payroll services -- 9.9 Summary -- Chapter 10 Team-based Pay -- 10.1 Types of teams -- 10.2 Parallel teams and pay -- 10.3 Project teams and pay -- 10.4 Work teams and pay -- 10.5 Best practice guidelines -- 10.6 Why teams fail: research results -- 10.7 What makes a good team? -- 10.8 Different types of incentive plans -- 10.9 Design considerations -- 10.10 Performance measurement -- 10.11 Rewarding top performers -- 10.12 Pay - the final frontier -- 10.13 Advantages and disadvantages of various team incentive schemes -- 10.14 Some final thoughts on teams and pay -- 10.15 Conclusion -- 10.16 Summary -- 10.17 Endnotes -- Chapter 11 Sales Force Incentives -- 11.1 Introduction and context -- 11.2 Key sales remuneration definitions -- 11.3 Designing a total remuneration strategy for sales executives -- 11.4 Basic design issues -- 11.5 Types of sales remuneration plans -- 11.6 Sales roles as drivers -- 11.7 Sales roles change focus over time -- 11.8 Sales bonus or commission schemes: advantages and disadvantages.

11.9 The use of decelerators -- 11.10 Elements of a sales remuneration plan -- 11.11 Noncash incentives -- 11.12 Sales remuneration and the e-world -- 11.13 Cross-selling incentives -- 11.14 Sales manager incentives -- 11.15 Incentives for relationship management -- 11.16 Tax treatment -- 11.17 New sales roles -- 11.18 Summary -- Chapter 12 Variable Pay and Incentive Schemes -- 12.1 Variable pay and incentive schemes -- 12.2 Difference between variable pay and "pay at risk" -- 12.3 Why implement variable pay? -- 12.4 The business case for incentives and good rewards -- 12.5 Implementation considerations -- 12.6 Design considerations -- 12.7 Incentive scheme design and framework -- 12.8 Design process -- 12.9 Goals for incentive schemes -- 12.10 Non-negotiable principles for effective incentives -- 12.11 Choice of scheme -- 12.12 Size of the incentive award -- 12.13 Performance measures -- 12.14 Incentive award determination -- 12.15 Main features of various types of incentive schemes -- 12.16 Conclusion -- 12.17 Summary -- 12.18 Endnotes -- Chapter 13 How to Design an Incentive Scheme -- 13.1 Requirements of a functioning incentive scheme -- 13.2 Design and implement an incentive scheme -- 13.3 Summary -- 13.4 Endnotes -- Chapter 14 Long-Term Incentive Schemes -- 14.1 Share schemes defined -- 14.2 Elements of a share scheme -- 14.3 Taxation of participants -- 14.4 Factors affecting value to participants -- 14.5 Real shares or phantom shares for listed companies? -- 14.6 Accounting for share-based payments (IFRS 2) -- 14.7 Topping-up practice -- 14.8 Performance conditions -- 14.9 Legal aspects -- 14.10 Foreign listings -- 14.11 Design trends -- 14.12 Stakeholder requirements -- 14.13 Summary -- 14.14 Endnotes -- Chapter 15 International Assignment Remuneration -- 15.1 Context and linkage -- 15.2 Types of international employment.

15.3 Definitions and underlying philosophy -- 15.4 Approaches to international assignment remuneration -- 15.5 Positioning international assignment remuneration in the total reward system -- 15.6 Design considerations -- 15.7 Critical success factors -- 15.8 Current issues -- 15.9 Case study: guidelines to management -- 15.10 Sample expatriate philosophy for ABC Group -- 15.11 Summary -- 15.12 Endnote -- Chapter 16 Remuneration Trends in Africa -- 16.1 Introduction -- 16.2 South Africa -- 16.3 Botswana -- 16.4 Kenya -- 16.5 Ghana -- 16.6 Namibia -- 16.7 Zimbabwe -- 16.8 Lesotho -- 16.9 Swaziland -- 16.10 Mozambique -- 16.11 Nigeria -- 16.12 Conclusion -- 16.13 Summary -- 16.14 Endnotes -- Chapter 17 Retention and Engagement -- 17.1 Retention strategy framework -- 17.2 Remuneration options -- 17.3 Engagement -- 17.4 Hot skills -- 17.5 Business case for investing in employee engagement -- 17.6 The importance of measurement and benchmarks -- 17.7 Conclusion -- 17.8 Summary -- 17.9 Endnotes -- Chapter 18 Recognition -- 18.1 Context and linkage -- 18.2 Definitions and differences clearly understood -- 18.3 Positioning recognition in the total reward system -- 18.4 The business case for implementing a recognition system -- 18.5 Design considerations -- 18.6 Recognition schemes: the lottery -- 18.7 Critical success factors -- 18.8 "Virtual scorecard" approach -- 18.9 Case study: guidelines to management -- 18.10 Recognising employees -- 18.11 Conclusion -- 18.12 Summary -- 18.13 Endnotes -- Chapter 19 Remuneration Committees and Boardroom Pay -- 19.1 Background and context -- 19.2 Impact of pay policies on organisations -- 19.3 Remuneration frameworks and models -- 19.4 Structure of executive pay -- 19.5 Current trends and issues in linking executive pay to performance -- 19.6 Definition of the philosophy underlying executive remuneration programmes.

19.7 Why do we need a remuneration committee?.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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