Title Armstrong’s Handbook of Reward Management Practice, 6/e
Subtitle Improving Performance Through Reward
Author Michael Armstrong, Duncan Brown
ISBN 9780749484361
List price GBP 44.99
Price outside India Available on Request
Original price
Binding Paperback
No of pages 392
Book size 171 x 241 mm
Publishing year 2019
Original publisher Kogan Page Limited
Published in India by .
Exclusive distributors Viva Books Private Limited
Sales territory India, Sri Lanka, Bangladesh, Pakistan, Nepal, .
Status New Arrival
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Reviews:

“Based on over a century’s worth of combined professional experience and insight, the authors explore the building blocks of reward management and strategy, as well as the latest thinking and recent developments in public policy.”

Charles Cotton, senior performance and reward adviser to the CIPD

 

“Whether a student or a new or experienced practitioner, this is a seminal text that you should always have to hand. The world of reward management continues to evolve and this new edition has its finger on the pulse of all that is current. The sections on recognition, financial well-being, gender pay and employee benefits in particular illustrate concepts, ideas and developments that today’s reward practitioners must have mastery of in the modern workplace.”

Kenny Wardhaugh, Senior Reward Business Partner, Thirteen Housing Group

 

“Armstrong and Brown’s ‘go-to’ reward text has been brought up to date. Whether you read it cover to cover or dip in for specific insights, it gives credible background and practical answers to every reward practitioner’s challenges.”

Deborah Rees-Frost, CEO, Innecto Reward Consulting

 

“The perfect mix of the theoretical and the practical, with case studies to illustrate the many different facets of reward in practice. This is a handbook which every reward professional should have within arm’s reach throughout all stages of their career.”

Gemma Huntley, Senior Reward Manager, River Island

 

“This new edition provides coverage of important hot topics such as financial wellbeing and the critical connection between employee engagement and reward. It also offers practical tips for the reader on how to turn the well-explained academic theory into real life business-based improvements.”

Katy Downes, Senior Engagement Manager


Description:

Armstrong’s Handbook of Reward Management Practice is the definitive guide to understanding, developing and implementing effective reward strategies. It covers all the essential aspects of improving organizational, team and individual performance through reward processes, including financial and non-financial rewards, job evaluation, grade and pay structures, rewarding specific employee groups and ethical considerations. This revised and updated sixth edition incorporates the latest research and developments and contains updated coverage of equal pay and the gender pay gap, employee benefits and total reward and a new chapter on employee financial wellbeing.

As with all of Armstrong’s texts, Armstrong’s Handbook of Reward Management Practice bridges the gap between academic and practitioner and is ideally suited to both HR professionals and those studying for HR qualifications, including master’s degrees and the CIPD’s intermediate and advanced level qualifications. Tips and checklists and can be found throughout, alongside case studies from organizations including General Motors, the UK National Health Service and Tesco. Online supporting resources include lecture slides and comprehensive handbooks for lecturers and students, which include learning summaries, discussion questions and exercises, literature reviews and glossaries.


Contents:

Introduction

Part One: Fundamentals of reward management

Chapter 1: Reward management: an overview • Key concepts and terms • Learning outcomes • Introduction • Reward management defined • Aims of reward management • Reward drivers • Values and beliefs • Reward policies • Reward systems • Reward management and HRM • The state of reward management • References

Chapter 2: Strategic reward • Key concepts and terms • Learning outcomes • Introduction • Strategic reward • Reward strategies • Developing and implementing reward strategies • Critical evaluation of the concept and practice of strategic reward • Examples • References

Chapter 3: Total reward • Key concepts and terms • Learning outcomes • Introduction • Total reward defined • The elements of total reward • Total reward and engagement • Total reward strategy • Critical evaluation of the total reward concept • Developing a total reward strategy – an 8-step approach • References

Part Two: Aspects of reward management

Chapter 4: Factors affecting reward • Key concepts and terms • Learning outcomes • Introduction • Factors affecting levels of pay generally • Factors affecting pay levels within organizations • Example of pay policy • References

Chapter 5: Financial rewards • Key concepts and terms • Learning outcomes • Introduction • Incentives and rewards • The theoretical framework • The role of money • Factors affecting satisfaction with pay • Research on the effectiveness of financial rewards • Opponents of financial rewards • Arguments for and against financial rewards • Criteria for effectiveness • Providing financial rewards • References

Chapter 6: Non-financial rewards • Key concepts and terms • Learning outcomes • Introduction • The significance of non-financial rewards • Types of non-financial rewards • Individual extrinsic rewards • Individual intrinsic rewards • Collective extrinsic rewards • Collective intrinsic rewards • The use of non-financial rewards – six tips • References

Chapter 7: Motivation and reward • Key concepts and terms • Learning outcomes • Introduction • The process of motivation • Types of motivation • Motivation theories • Conclusions on motivation theory • References

Chapter 8: Engagement and reward • Key concepts and terms • Learning outcomes • Introduction • Engagement defined • Why engagement is important • Developing engagement through reward • Conclusion • References

Chapter 9: Performance and reward • Key concepts and terms • Learning outcomes • Impact of reward on organizational performance • How does reward impact on performance? • Role of performance management • Use of rewards for attracting and retaining people • References

Chapter 10: Financial well-being • Key concepts and terms • Learning outcomes • Introduction • What is financial well-being? • The significance of financial well-being • Financial well-being – what matters to employees • Financial well-being – the issues • What can employers do? • References

Chapter 11: The gender pay gap • Key concepts and terms • Learning outcomes • Introduction • Reasons for the gender pay gap • Actions to reduce gender pay gaps • Narrowing the gap at organizational level • References

Chapter 12: The ethical approach to reward and performance management • Key concepts and terms • Learning outcomes • Introduction • Ethical decisions in reward and performance management • Why is an ethical approach desirable? • Resolving ethical dilemmas • The gender pay gap and equal pay • The ethical role of reward professionals • An ethical code of practice for reward and performance management • References

Part Three: Base pay management

Chapter 13: Job evaluation • Key concepts and terms • Learning outcomes • Introduction • Job evaluation defined • Aims of job evaluation • Achieving the aims • Arguments for and against job evaluation • Formal job evaluation • Informal job evaluation • Analytical job evaluation schemes • Non-analytical schemes • Levelling • Market pricing • Job analysis for job evaluation • Computer-aided job evaluation • Choice of approach to job evaluation • Developing a point-factor job evaluation scheme • Ensuring that the scheme is unbiased • References

Chapter 14: Market pricing • Key concepts and terms • Learning outcomes • Introduction • Applications of market pricing • Requirements for effective market rate analysis • The process of market analysis • Limitations of market pricing • References

Chapter 15: Grade and pay structures • Key concepts and terms • Learning outcomes • Introduction • Grade structures • Grade and pay structures • Guiding principles • Formal graded structures • Job family structures • Pay spines • Unstructured pay systems • Choice of approach • Developing formal grade and pay structures • Minimizing bias in grade and pay structure design • The practice of managing pay in grade and pay structures • References

Part Four: Rewarding and recognizing performance

Chapter 16: Pay progression through contingent pay • Key concepts and terms • Learning outcomes • Introduction • Pay progression • Contingent pay based on performance, competence or contribution • Skill-based pay • Developing contingent pay – six tips • Service-related pay • References

Chapter 17: Bonus schemes • Key concepts and terms • Learning outcomes • Introduction • Bonus schemes defined • Aims of bonus schemes • Rationale for bonus schemes • Criteria for a bonus scheme • Types of scheme • Designing a bonus scheme • Introducing a bonus scheme • Earn-back pay • Bonus schemes and performance • Bonus schemes – six tips • References

Chapter 18: Team pay • Key concepts and terms • Learning outcomes • Introduction • Team pay defined • Rationale for team pay • How team pay works • Requirements for team pay • Advantages and disadvantages of team pay • Developing team pay • Team pay – six tips • References

Chapter 19: Rewarding for business performance • Key concepts and terms • Learning outcomes • Introduction • Types of schemes • Aims • Profit-sharing • Gain-sharing • Share ownership schemes • Impact of share schemes • Rewarding for business performance – six tips • References

Chapter 20: Recognition • Key concepts and terms • Learning outcomes • Introduction • Recognition schemes defined • Benefits of recognition schemes • Principles of recognition • Types of recognition • Designing a recognition scheme • Examples of recognition schemes • Recognition – six tips • References

Part Five: Rewarding special groups

Chapter 21: Rewarding chief executives • Key concepts and terms • Learning outcomes • Introduction • CEO pay levels • Factors affecting CEO pay levels • The CEO remuneration package • Determining the remuneration of CEOs • References

Chapter 22: Rewarding sales and customer service staff • Key concepts and terms • Learning outcomes • Introduction • Rewarding sales representatives • Rewarding customer service staff • Using reward and recognition to deliver customer service strategy • References

Chapter 23: Rewarding knowledge workers • Key concepts and terms • Learning outcomes • Introduction • What motivates knowledge workers? • Approaches to rewarding knowledge workers • Pay related to competency • Rewarding knowledge workers – six tips • References

Chapter 24: Rewarding manual workers • Key concepts and terms • Learning outcomes • Introduction • Factors affecting the pay of manual workers • Time rates • Pay structures • Incentive schemes for manual workers • Payment-by-results schemes • Summary of schemes • Single status and harmonization • Managing rewards for manual workers – six tips • References

Chapter 25: International reward • Key concepts and terms • Learning outcomes • Introduction • The international scene • Global reward management concerns • Design of international reward systems • International reward strategy • International reward management objectives • The convergence or divergence of international reward management policy and practice • International reward management in action • Rewards for expatriates • Managing international reward – six tips • References

Part Six: Employee benefits

Chapter 26: Employee pensions and benefits • Key concepts and terms • Learning outcomes • Introduction • Rationale for employee benefits • Employee benefit strategies and policies • Pensions • Personal security • Financial assistance • Personal needs • Holidays • Company cars • Voluntary (affinity) benefits • Concierge services • Choice of benefits • Administering employee benefits • Total reward statements • Managing employee benefits – six tips • Reference

Chapter 27: Flexible benefits • Key concepts and terms • Learning outcomes • Introduction • Reasons for introducing flexible benefits • Types of flexible benefits schemes • Salary sacrifice • Introducing flexible benefits • Managing flexible benefits – six tips • References

Part Seven: The practice of reward management

Chapter 28: Evidence-based reward management • Key concepts and terms • Learning outcomes • Introduction • Evidence-based management • Evidence-based reward management • Reviewing reward • Measuring reward • Employee surveys • Evaluating reward • Evaluating the impact of reward • Conclusions • References

Chapter 29: Managing reward systems • Key concepts and terms • Learning outcomes • Introduction • Reward policies • Controlling reward • Monitoring and evaluating reward policies and practices • Conducting pay reviews • General reviews • Individual reviews • Conducting individual pay reviews – six tips • Reward procedures • The use of computers in reward management • Communicating reward policies and practices • Equal pay reviews • References

Chapter 30: Managing reward risk • Key concepts and terms • Learning outcomes • Introduction • Risk management • Reward management risks • The risk management process • References

Chapter 31: Responsibility for reward • Learning outcomes • Introduction • The role of the reward professional • The role of line managers • Using reward consultants • Line managers’ responsibility for reward – six tips • References

Chapter 32: Reward management developments in the UK • Key concepts and terms • Learning outcomes • The context • Organizational developments • Overall developments in reward management • Particular developments in reward management • The future – smart rewards • References

Index


About the Authors:

Michael Armstrong is the UK’s bestselling author of Human Resource Management books including Armstrong’s Handbook of Human Resource Management Practice, Armstrong’s Handbook of Strategic Human Resource Management, Armstrong’s Handbook of Reward Management Practice and Armstrong’s Handbook of Performance Management and several other titles published by Kogan Page. His books have sold over a million copies and have been translated into twenty-one languages.

Duncan Brown is the Head of HR consultancy at the Institute for Employment Studies. He has more than 25 years’ experience in HR consulting, reward and development, with firms including Aon Hewitt, PricewaterhouseCoopers and Towers Perrin. He also spent 5 years as Assistant Director General at the Chartered Institute of Personnel and Development (CIPD).


Target Audience:

Useful for students and academicians of HR.

 
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