The books in the HR Fundamentals series take a practical approach to core HR topics, offering the ambitious practitioner guidance that can be immediately understood and applied in a busy environment. Ideal for any HR professional, and especially those working for CIPD levels 5 to 7 qualifications.
Reward Management is a practical guide to understanding and implementing effective reward strategies in your organization. It offers a complete overview of the field and how to align your approach to reward management with the HR and broader organizational strategy. Using a combination of hands-on tools, scenarios and case studies it will build your knowledge of reward, covering everything from pay grades and job evaluation to pay reviews, bonus plans, non-cash reward, incentives, benefits and tax issues. This invaluable and comprehensive handbook will equip you with the skills you need to plan, implement and assess a successful reward strategy in any type of organization. Reward is now more complex than ever with greater choices. Michael Rose’s book rationalizes the huge range of reward components the reward practitioner is faced with and explains how they fit together. It summarizes the key issues that you need to consider in developing a reward strategy that gets results, including:
• Basic Pay - your company’s relative position in the external market, internal equity, rationale for pay reviews, grade structures, salary structures.
• Variable pay - will a bonus help or hinder? What would it cover? How should it be different for different groups of people? Can you use recognition as an alternative? Will you pay a long-term and/or a short-term bonus?
• Benefits - what’s the rationale for offering employee benefits? How much choice do employees have as to which benefits they take? Are the benefits you offer tax efficient?
Embedded throughout Reward Management are brief examples of good practice to help explain particular points. It also includes real-life case studies and some short exercises and reflective questions to help you think through how to apply the principles covered in the book in your organization.
About the Author:
Michael Rose heads Rewards Consulting, a London-based management consultancy specializing in employee reward, recognition, engagement and motivation. He has worked in reward management for over 30 years and was previously a vice president of the CIPD. Michael has had a number of corporate roles, the most recent being Director of Reward for Aon Limited, covering 16,000 people across EMEA. His other major corporate roles have been Head of Reward Management for TSB Bank plc, Human Resources Manager, European Insurance Operations for NZI Insurance and Compensation Manager for Abbey Life Assurance. He also has a decade’s experience as a reward consultant with KPMG and Arthur Andersen, where he worked on reward and broader HR projects with clients across all sectors and in many countries. Michael has an MA in Human Resource Management, is a Companion of the CIPD, an Associate of the CII and a Fellow of the RSA. In 2009 he was voted Compensation and Benefits Professional of the year by Employee Benefits magazine.
