REWARD MANAGEMENT
Managers urged to adopt integrated reward strategy A new report by the Financial Times newspaper brings together four very different pieces of work which underline the perils of applying off-the-shelf compensation strategies in today's employment environment and uncritically following the crowd . Together they add to the growing body of evidence that suggests good reward strategies are about customisation and tailoring practices to suit the needs of the organisation as well as those of individual employees. The report, the fourth in an eight-part series entitled Mastering People Management , covers a diverse range of topics, from employee share ownership to work-life policies. The series draws on the expertise of the world's leading business schools — in particular the Wharton School of the University of Pennsylvania and Insead in Fontainebleau, France. What you will find in part four of the FT's Mastering People Management: | Rewards that work | | Author(s): Thomas Wilson, president of the Wilson Group, a compensation consulting company. | | All too often, organisations are more interested in adopting the same reward systems as their rivals than in doing things differently to create competitive advantage. By daring to be different, companies can use reward to drive strategy and reinforce vales . | | Link: http://ftcareerpoint.ft.com/ft/gx.cgi/ftc?pagename=View& c=Article& cid=FT3L5BEMITC& live=true& tagid=FTDLG77X1MC | | When employees act like owners | | Author(s): Martin J Conyon, assistant professor of management at the Wharton School of the University of Pennsylvania, and Richard B Freeman, professor of economics at Harvard University and co-director of the Centre for Economic Performance, London School of Economics. | | Employee share ownership plans are all the rage. A growing body of research, based on data from the US and UK, suggests that shared compensation can increase company performance by providing direct financial incentives to employees . | | Link: http://ftcareerpoint.ft.com/ft/gx.cgi/ftc?pagename=View& c=Article& cid=FT35M8B2KTC& live=true& tagid=FTDLG77X1MC | | Work as a life experience | | Author(s): John Kimberly, Henry Bower Professor at the Wharton School of the University of Pennsylvania, and Elizabeth F Craig, doctoral candidate at the Wharton School. | | More and more workers are rethinking the relationship between their working and private lives — a trend which has been accelerated by the events of 11 September. Organisations that accommodate these changing needs and provide an inspiring work experience are likely to have the edge in the recruitment and retention race. | | Link: http://ftcareerpoint.ft.com/ft/gx.cgi/ftc?pagename=View& c=Article& cid=FT32161NITC& live=true& tagid=FTDLG77X1MC | | Corporate help is at hand for working parents | | Author(s): Stewart D Friedman, practice professor at the Wharton School of the University of Pennsylvania, and Ellen Galinsky, president of the Families and Work Institute. | | As demand for childcare from working parents grows, companies have moved from single-issue programmes and policies to meet the needs of workers with domestic responsibilities to a more strategic, co-ordinated approach. | | Link: http://ftcareerpoint.ft.com/ft/gx.cgi/ftc?pagename=View& c=Article& cid=FT3WNPI2KTC& live=true& tagid=FTDLG77X1MC |
Want to know more? Title: Mastering People Management, part four of an eight part series on HR, published by the Financial Times, 5 November 2001. To find out more about this series, jump to FTCareerPoint web site . . . http://ftcareerpoint.ft.com/mpm Posted 14 December 2001 |
