First published in 1975, “The Compensation Handbook” (McGraw-Hill) includes chapters from 63 compensation experts. The guide can help professionals identify significant issues that impact compensation and human resources practitioners, and provide straightforward and understandable solutions to deal with them. “The Compensation Handbook” includes the thoughts and research of well-known compensation leaders, and offers unique and innovative approaches.
Each edition of the book has a distinct foundation. The first three focused on the evolution of new compensation techniques and methodologies as they applied to the business and social environment of their eras. The sixth edition, with new material, focuses on strategies and practices that will create a sustainable competitive business advantage.
The sixth edition includes the following features:
- Steps to create a fully defined compensation strategy for any organization;
- Info on designing and implementing an approach to attract and retain talent that will remain relevant into the future; and
- Programs that allow for the seamless alignment of historic best practices with the latest tools, methods and diagnostics in compensation.
Much of the guide’s longtime success comes from the team of respected experts from business and academia who share their authoritative knowledge on every aspect of compensation, according to Lance Berger, the book’s co-author.
From using big data to solidify compensation decisions, to building compensation programs that adapt to rapidly changing business and workforce scenarios, to executing successful plays for new talent, retaining essential staffers, and encouraging skill development, the new edition continues to be a tool that compensation professionals and HR practitioners can use to add value to their companies.
Dramatic changes in the workplace are taking place more rapidly than ever, says Anne Ruddy, president and chief executive of WorldatWork, and a contributor to the handbook. One use of the handbook is that it helps organizations create a salary structure to allow companies to attract and retain highly qualified employees, she says.
Beginning Friday, “The CompensationHandbook, Sixth Edition” will be on sale in retail stores and online.