According to Patricia K. Zingheim and Jay R. Schuster, if you improve the way you pay and reward your employees, you will motivate them more effectively and enhance their performance. The authors provide a variety of tools for implementing improved reward systems, based on six reward principles and four components of total rewards, including compensation and celebration of individual and team performance. The book includes examples of companies that have improved performance by revamping rewards, though it focuses mostly on when and how to use specific reward strategies. As this step-by-step precis might hint, this generally clear, straightforward book does have some dusty patches where it is dense, dry and didactic. getabstract recommends it, despite the parched spots, to executives and company owners who want to get maximum bang for their salary bucks.
In this summary, you will learn
- Why increasing base pay is just one way of compensating a valuable employee;
- How to revamp your reward strategy; and
- Why both measurement and management of performance are integral to ensure a fair reward strategy.
About the Authors
Patrick K. Zingheim and Jay R. Schuster are partners in Schuster-Zingheim and Associates, Inc., a pay consulting firm in Los Angeles. Experts on the role of pay in accelerating company growth and performance, they co-authored The New Pay which links pay with organizational effectiveness.