The Compensation Solution: How to Develop an Employee-Driven Rewards System

The Compensation Solution: How to Develop an Employee-Driven Rewards System

The Compensation Solution: How to Develop an Employee-Driven Rewards System

The Compensation Solution: How to Develop an Employee-Driven Rewards System

Synopsis

Money isn't everything to today's employees. This book shows companies how to combine traditional compensation with the educational, emotional, and psychological benefits that will attract the best and brightest. It identifies the ten elements--including learning, advancement, emotional rewards, and quality of life--that job seekers rank highest among desired benefits. Then it shows employers how to combine them with monetary benefits to create effective, employee-driven compensation packages.

Excerpt

Welcome to the University of Michigan Business School Management Series. The books in this series address the most urgent problems facing business today. The series is part of a larger initiative at the University of Michigan Business School (UMBS) that ties together a range of efforts to create and share knowledge through conferences, survey research, interactive and distance training, print publications, and new media.

It is just this type of broad-based initiative that sparked my love affair with UMBS in 1984. From the day I arrived I was enamored with the quality of the research, the quality of the MBA program, and the quality of the Executive Education Center. Here was a business school committed to new lines of research, new ways of teaching, and the practical application of ideas. It was a place where innovative thinking could result in tangible outcomes.

The UMBS Management Series is one very important outcome, and it has an interesting history. It turns out that every year five thousand participants in our executive program fill out a marketing survey in which they write statements indicating . . .

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