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Knowledge is becoming a critically importance resource in
contemporary business organizations, a development posing significant
issues for HRM. Draws together various strands of theory, research and
practice to develop a better understanding of these issues, with special
emphasis on HRM practice in knowledge‐intensive organizations. Discusses
the difficulties of making a transition from traditional forms of HRM to
post‐industrial approaches. A review of traditional compensation systems
serves as the basis for a series of propositions concerning preferred
practice in this critically important area. The major contention is that
the managers of knowledge‐intensive organizations are confronting major
new issues in co‐ordinating and directing the effort of knowledge
workers. The major conclusion is that existing compensation structures
and routines must be re‐thought and makes several suggestions in this
regard.