Reward Management [antikvár]

Foreword This, the fourth edition of Reward Management, is a welcome update of the best standard text on remuneration written in the UK. It is a privilege for Hay Management Consultants to be asked to provide expertise and sponsorship. The pace of change in this field is high. There are three factors that particularly drive the theory and practice forward: the dynamics of the job market, the employment environment in large- and medium-sized employers and the legislative framework. In the past five years there has been a transformation in the job market. There is a desperate shortage of certain skills, particularly in IT and associated communications technologies. This has driven up pay levels and torn apart many of the established conventions about remuneration management. There has also been a major shift away from conventional full-time employment; more people in the work-force than ever are not in full-time, permanent employment. Opportunities for self-employment, part-time employment and temporary work have all had an impact on the reward strategies and policies of larger employers who can no longer offer the job security of the past. There has also been upheaval within organizations. This has changed the nature of many jobs and has also transformed the environment of work. Remuneration policies and practices have had to become more flexible and adaptive. We have seen tremendous growth in performance-related remuneration, the adoption of policies which encompass rewards for competency development and the return of team-based pay. All of these have been given further consideration in this book, along with greater emphasis on determining appropriate, 'fit-for-purpose' reward strategies. Lastly there is the question of legislation. Political parties of all persuasions seem to produce a torrent of legislation that modifies the reward management environment. This book takes on board the changes made to pensions in the wake of the Mirror pension scandal and the mis-selling of personal pensions by insurance companies. We wait with anticipation the effects of the Euro and the increasing globalization of companies on international remuneration management.