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Evidence-Based Reward Management: Creating measurable business impact from your pay and reward practices

by Duncan Brown,Michael Armstrong

Publisher: Kogan Page Limited/Viva Books

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About the book

Evidence-based Reward Management is the management of reward systems based on fact rather than opinion, on understanding rather than assumptions, on grounded theory rather than dogma. It makes use of the extensive research conducted over the last 50 years into how reward systems work in organizations and what can be done to improve them. It provides HR professionals with the means of measuring exactly how the reward and pay of employees contribute directly to the performance of organizations. The authors present a compelling argument for its use and practical and informed guidance on its implementation. The book presents an analysis of the current failure of organizations to assess the effectiveness of pay and reward practices. It considers the reasons for this and outlines the damaging consequences of it. By examining recent developments in human capital information and measurement it looks at how HR can construct effective reward for improved performance, both for the individual and organization. The authors present the tools and techniques that can be applied to practise evidence ­based reward management, including a model which sets strategic goals, reviews current policies, looks at how to pilot and make changes and improvements and explains how to monitor and adapt on an ongoing basis. Fully illustrated with case studies including McDonald’s, Standard Chartered Bank, and KPMG, Evidence-based Reward Management will help HR professionals to assess and communicate the effectiveness of reward in a meaningful and informed way. Contents: Introduction • The concept of evidence-based management • Introduction • Evidence-based management defined • Approaches to evidence-based management • Evidence-based management and research • Evidence-based management and benchmarking • The myth of best practice • Best fit • Evaluation of HR management practices • Evaluation through measurement • Quantitative evaluation • Qualitative evaluation • Chapter summary • The concept of evidence-based reward management • Introduction • The meaning of evidence-based reward management • The meaning of integrated reward management • The ethical dimension • The role of reward strategy • High-performance working • Engagement • Attraction and retention of talent • Evidence-based reward in practice • Chapter summary • The reality of evidence-based reward management • Introduction • What is or is not happening? • Why there is little interest in evidence-based reward management • Why is evidence-based reward management important? • What evidence-based reward management aims to achieve • Chapter summary • Case study: Kent County Council: effectiveness in building a great place to work • The impact of evidence-based HR and reward management • Introduction • Measuring the impact of human resource management • Measuring the impact of reward • Chapter summary • Case study: McDonald’s restaurants: aligning reward strategy to business objectives through employee engagement • The process of evidence-based reward management • Introduction • The context: reward practices under scrutiny • The challenges: the questions to answer Assessing reward effectiveness • The components of evidence-based reward management • Defining reward goals and success criteria • Setting success criteria and moving on to assess them • Chapter summary • Case study: an analytical but values-driven approach to managing reward and incentive arrangements at Standard Chartered Bank • Reviewing reward Introduction • The process of reward review • Approaches to reward review • Components of a reward review • Internal research • External research • Chapter summary • Case study: DSG International plc: reward effectiveness in driving a business turnaround • Measuring and evaluating reward • Introduction • Measuring reward • Evaluating reward • Chapter summary • Case study: evidence-based recruitment and reward at the NSPCC • Developing and implementing reward • Introduction • Analysing findings and agreeing improvements • Developing new and improved rewards • Developing with implementation in mind • Implementing, operating and reviewing more effective rewards • Chapter summary • Case study: KPMG: delivering effectiveness through performance-related and total rewards • Conclusions on evidence-based reward management • Introduction • The six components of evidence-based reward • Criteria for assessing reward practices • Views of practitioners • A final word

Details of the book

Book :
Evidence-Based Reward Management: Creating measurable business impact from your pay and reward practices
Book ID :
58813
Author :
Duncan Brown,Michael Armstrong
ISBN 13 :
9780749456566
Year of Publication :
2010
Edition :
First
Publisher :
Kogan Page Limited/Viva Books
Binding :
Hardcover
Pages :
262
Weight :
1 kg

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