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"Clearly written and providing actionable strategies, this book explores new paradigms for workforce management to enable human resource managers and the organizations where they work to thrive in today's turbulent business environment. Robert Greene goes beyond the many human resource management books currently available, to deal head-on with the new realities of talent management, including such factors as the 'gig economy' and globalization. The book focuses on attracting, developing, and effectively utilizing human capital. It begins with human capital planning, and then explores strategies and programs that can attract and retain the workforce an organization needs. A range of sizes and types of organizations and different working relationships are considered, as Greene demonstrates how to evaluate the effectiveness of strategies that fit specific contexts and will sustain the viability of an organization's workforce into the future. Postgraduate students of human resource management, as well as current HR professionals and managers, will find this practical book an indispensable resource. PowerPoint slides and test banks are available to support instructors"--

Building on evergreen principles, concepts, and strategies of performance and rewards management, the second edition of Rewarding Performance is a clear guide to how strategies must be adjusted to align with new realities, and programs revised to ensure their effectiveness. Appendices dealing with the important and increased reliance on evidence-based management have been added, to provide insights into how evidence can be applied in performance and rewards management. Another major development addressed in the second edition is the rise of the "gig economy," which has challenged organizations to brand themselves as employers of choice. This new edition answers the challenge by considering the impact of this trend on performance and rewards management throughout the book, and expanding the content related to managing non-employees. The second edition also includes a new appendix, providing a fundamental grounding in the use of statistics relevant to performance and rewards management. A chapter on contractors has been added and material on cognitive bias explores why managing people must be understood as different from managing quantitative measures. Updated figures and PowerPoint presentations make the new edition of Rewarding Performance an essential resource for instructors and students of human resource management.

The real world -- Adapting to the real world -- Making sense out of the real world -- Assessing organizational context -- Facing a chaotic economy -- Evaluating alternative HR strategies in adverse times -- Facing and dealing with current realities -- Learning from others -- Expanding horizons dealing with cultural diversity

"The principles of sound human resource management are generally undiferstood, but too often practitioners believe the same policies and programs will work in all contexts. The effectiveness of any system is highly dependent on the context within which it must function. And due to globalization and increased workforce diversity, the contexts across and even within organizations have become more varied. The Most Important Asset is a story about new graduates entering the human resources field, encountering and dealing with workforce management challenges and issues and developing their own professional competence through experience. Principles are presented and alternative solutions to problems are explored, providing the readifer with a roadmap for analyzing situations and making decisions as to how to act. Placing the characters in different types of organizations provides insights into how different contexts call for different strategies. Alternative strategies for staffing an organization, developing its people, defining, measuring and rewarding performance are used to illustrate how what is done should be compatible with the mission, culture, organizational strategy, and internal and external realities."--Provided by publisher

Organizations must decide the basis upon which they compensate workers. Rewards may be based on results, the capabilities the person brings to the organization, or the job held. The nature of the work performed and what is required to motivate the person to perform the work still have an impact on how rewards are determined. Sales personnel are most often rewarded for making sales, professional/technical personnel are rewarded based on their knowledge and trades, and production personnel are most often compensated for possessing specific, work-related skills. Although all employees may be assigned roles/jobs, what they are paid for will be a function of the nature of the work and of the contribution its completion makes to the organization's performance. Rewards management strategies should fit the work and the organizational context.

Ensuring compensation policies and programs are viewed by employees as equitable, competitive and appropriate enables an organization to make their value proposition attractive to the talent it needs to succeed. There is significant controversy today related to the wage and wealth gap, and wage inequality is widely viewed as unfair and unwarranted. Each compensation strategist must reconcile business needs with the needs of the workforce, and altering the manner in which available resources are allocated can work toward that reconciliation. Alternative approaches for doing so are presented.

Organizations are functioning in a globalized, competitive and dynamic environment. Performance is required for survival and sustained viability. How effectively performance is defined, measured, managed and rewarded will have a significant impact on workforce performance and organizational success. Performance should be defined at the organizational, group/unit and individual levels and the definitions must be integrated with each other. And employees must view their rewards as equitable, competitive and appropriate in order for them to be motivated to extend their best efforts and to focus on meeting organizational objectives. Research demonstrates that basing rewards on performance provides motivation. But rewards must be linked to performance at the appropriate level, and must be provided in the appropriate form as well as timed to reinforce the performance. Global mobility is increasing cultural diversity and organizations should consider the beliefs and values of employees when rewarding performance

Organizations entering into mergers, acquisitions, joint ventures and alliances must formulate rewards strategies that are effective and appropriate for the new entity. The rewards strategy should be influenced by the new culture, strategy and objectives and must be viewed by employees as equitable, competitive and appropriate.

Employee ownership of organizations can promote motivation to contribute to the success of those organizations. "Ownership" can be economic and/or psychological and both forms align the interests of employees and the organizations. The benefits of psychological ownership can be realized by ensuring that employees understand what the organization needs and managing in a manner that convinces them they will be positively affected by success. Economic ownership must provide benefits in the form of tangible results that outweigh the costs of making employees owners. Each organization must determine the role that economic ownership should play in its rewards strategy based on a cost–benefit analysis.

Organizations with fixed cost workforces are handicapped when trying to operate in a variable revenue world. Downsizing has become common as a cost reduction strategy but has generally failed to produce the desired results. When all direct compensation is all in the form of base pay and benefits, costs keep rising, and the cost/revenue gap keeps widening. By adopting direct compensation strategies that include a broader use of variable compensation, workforce costs can be better aligned with the resources available. Selecting the right incentive programs can provide greater motivation while helping to control workforce costs.

The turbulent environment of the last two decades has made it difficult to manage employee rewards well. When revenues vary while compensation costs remain fixed it impacts profitability in private sector firms and makes it difficult for public sector entities to remain within budgets. Organizations need to use scenario based planning to develop robust rewards strategies that will work reasonably well in a variety of possible futures. Current strategies and programs should be evaluated to ensure they are sustainable. Alternative approaches to rewarding employees that make rewards costs more variable enables them to be better aligned with revenues.