Article Abstract:
In Great Britain during the 1980s, radical changes have occurred in the fields of compensation, employee performance, and competitiveness. Cultural changes and the shortage of skills in certain areas have made employers more concerned with individual tailoring of remuneration packages and with tying compensation to performance. Factors affecting executive compensation include job responsibility level, special skills, experience, performance, potential, individual characteristics, supply and demand of scarce talent, and the state of the economy. Young executives are more apt to demand 'cash up front' and feel less loyalty to their employers. Organizations have responded with less rigid systems of pay and reward, although fewer organizational levels mean fewer promotional opportunities. The structure of reward packages is expected to be more variable in the future and compensation decisions are becoming morecontroversial and complex. This leads to an increasing need for training of personnel and line managers in communications and appraisals.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
More than 1,000 respondents to a Personnel Management questionnaire of corporate recruitment practices indicates that recruitment will be the major factor effecting business success in the 1990s. Serious constraints to recruitment were identified by respondents, including: salary level; housing costs; and the cost of living. Companies are taking steps to ameliorate current recruitment problems by offering higher basic pay, changing employment conditions, and retraining existing staff for available positions. Respondents indicate that, in the recruitment process, there have been significant increases in the use of recruitment consultancies, employment agencies, and executive search organizations.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Her Majesty's Stationery Office's (HMSO) strategy in improving corporate performance includes the implementation of a new pay and grading system that recognizes the organization's business needs and, at the same time, mindful of the traditional Civil Service pay structures. The elements of the new pay structure include a job-evaluated pay ladder, performance pay in place of automatic pay increases, and new lump-sum bonuses for employees gaining professional qualifications. Aside from increasing employee motivation, the compensation package has also significantly improved HMSO's relationship with its unions.
User Contributions:
Comment about this article or add new information about this topic: