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The Remuneration Handbook (International Edition)

The Remuneration Handbook (International Edition)
Contributor(s): Bussin, Mark (Author), Diez, Fermin (Author)

ISBN: 1869225716 EAN: 9781869225711

Binding: Paperback
Pub Date: January 04, 2017 / 514 pages

Table of Contents:
About the authors x
List of contributors xi
Preface xii
Acronyms used xiv
Chapter 1 Organisation Strategy and Remuneration Policy 1
1.1 Introduction 1
1.2 Context 1
Chapter 2 Job Roles and Competence 23
2.1 Overview 23
2.2 Terminology 23
Chapter 3 Job Evaluation 35
3.1 Introduction 35
3.2 The need for job evaluation 35
Chapter 4 Broad-banding 49
4.1 Broad-banding 49
4.2 Reasons for implementing broad-banding 50
Chapter 5 Individual Performance-, Competence- and Skills-based Pay 69
5.1 Definitions, reasons for, and objectives of performance-related pay 69
5.2 The mechanics of PRP 70
Chapter 6 Pay Structures 89
6.1 Understanding what a pay structure is 89
6.2 Why organisations have pay structure 91
Chapter 7 Setting Pay Levels 113
7.1 Why use market surveys? 113
7.2 Statistics and definitions 113
Chapter 8 Payroll 135
8.1 Payroll management 135
8.2 The role of the payroll department 135
Chapter 9 Team-based Pay 143
9.1 Types of teams 143
9.2 Parallel teams and pay 143
Chapter 10 Sales Force Incentives 159
10.1 Introduction and context 159
10.2 Key sales remuneration definitions 160
Chapter 11 Variable Pay and Incentive Schemes 183
11.1 Variable pay and incentive schemes 183
11.2 Difference between variable pay and "pay at risk" 184
Chapter 12 How to Design an Incentive Scheme 205
12.1 Requirements of a functioning incentive scheme 205
12.2 Design and implement an incentive scheme 209
Chapter 13 Employee Benefits 267
13.1 Introduction 267
13.2 Types of benefits 269
Chapter 14 Cost-of-living Calculations 291
14.1 Introduction 291
14.2 Cost-of-living data 291
14.4 Conclusion 303
Chapter 15 International Assignment Remuneration 305
15.1 Context and linkage 305
15.2 Types of international assignments 305
Chapter 16 Retention and Engagement 329
16.1 Retention strategy framework 329
16.2 Remuneration options 329
Chapter 17 Recognition 347
17.1 Context and linkage 347
17.2 Definitions and differences clearly understood 347
Chapter 18 Executive and Boardroom Pay 361
18.1 Background and context 361
Impact of pay policy on organisations. 362
Chapter 19 Remuneration Committees, Governance and NED Pay 375
19.1 Why do we need a remuneration committee? 375
19.2 Restoring investor confidence 375
Chapter 20 Long-Term Incentive Schemes 389
20.1 Share schemes defined 390
20.2 Features of share schemes 392
Chapter 21 Reward Trends 405
21.1 Trend 1: Global remuneration 405
21.2 Trend 2: Retention and engagement of employees 405
References 471
Index 478

How we remunerate employees reflects the dynamics of the market and context in which we operate. It aligns at all times to the strategic direction and specific value drivers of the businesses within which our organisation operates. Remuneration plays a critical role in attracting, motivating and retaining high-performing individuals. Remuneration also reinforces, encourages and promotes superior performance.
Through variable remuneration linked to value drivers, superior performance is recognised and rewarded, while poor performance and under-achievement are coached and managed. Remuneration is never a stand-alone management process, but is rather fully integrated into other management processes, such as the performance management process, and the overall Human Resources policies.

- Organisation Strategy and Remuneration Policy
- Job Roles and Competence
- Job Evaluation
- Broad-banding
- Individual Performance-, Competence and Skills-based Pay
- Pay Structures
- Setting Pay Levels
- Payroll
- Team-based Pay
- Sales Force Incentives
- Variable Pay and Incentive Schemes
- How to Design an Incentive Scheme
- Employee benefits
- Cost-of-living calculations
- International Assignment Remuneration
- Retention and Engagement
- Recognition
- Executive and Boardroom Pay
- Remuneration Committees, Governance and NED Pay
- Long-Term Incentive Schemes
- Reward Trends

Contributor Bio: Bussin, Mark
Dr Mark Bussin has consistently contributed to the development of a host of human re-source managers in the remuneration field in Africa via his corporate and consulting experience, wise counsel, writings, and hundreds of lectures, TV and radio inter-views. He has developed a generation of remuneration experts, helped define the field of practice, and made a significant contribution to the national level of excellence in the field.

Contributor Bio: Diez, Fermin
Fermin Diez has dedicated his professional life to implementing strategy through people. His experience spans Corporations, Academia, Consulting Firms and Public Service in 40 countries across all continents.



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