Compensation

by George T. Milkovich, Jerry Newman

is based upon the strategic choices in managing compensation – pay matters! The Great Recession (late 2000 and early 2010s) had huge ramifications for pay. There were many lessons learned about cutting hours and pay, versus layoffs, or how/why employees are compensated. Pay matters globally as well.  strives to cull beliefs from facts, wishful thinking from demonstrable results, and opinions from research. Managing compensation is an art and Milkovich is based on strategic choices in managing compensation. These choices, which confront managers, are introduced in the total compensation model in Chapter 1. The model serves as an integrating framework throughout the text. Major compensation issues are covered in the context of current theory, research, and practices. Canadian laws, facts, policies and procedures, and examples are well incorporated throughout.

Genres: Human Resources, Historical Romance, Textbooks, Business, Nonfiction, Reference, Management

672 pages, Hardcover

Published February 9, 2007

Reviews

[Evans Lusuli · Rating 4 out of 5]

Great read

Strongly recommend for compensation and HR professionals interested in understanding current trends and research trends in the field. Only setback is the book is published pre-pandemic and COVID-19 will impact total compensation given the popularity of remote work.

[Ivy · Rating 3 out of 5]

Wonderful source of information ("the" book on compensation, according to my boss), and he tries to make it interesting, but it is very, very dry.

[LeAnn · Rating 1 out of 5]

For school

[Visca Putri · Rating 4 out of 5]

so good

[Susan Novack · Rating 3 out of 5]

Text book not visually appealing to make it easier to retain learning. Interesting business text on pay systems.

[Mari McR · Rating 4 out of 5]

Informative dry textbook.

[Lisa · Rating 3 out of 5]

Had this not been a textbook with a specific deadline attached to its reading, I'd have liked it more. Although in its 12th edition, it still needs a good editor. The construction of some of the sentences had me scratching my head for a few minutes before I could figure out what they meant. Punctuation and grammar are important. And when you're trying to get over those hurdles, it takes away from the meaty topic at hand. (I couldn't mark the necessary changes in it, which is what I usually do, because it is a rental. (At $300, I wasn't going to purchase it.)

Grammar and editing aside, I was surprised that, as a non-profit administrator, I found so much relevant information. Indeed, we have little money to go around, but the money that is there to go around should be divided in a strong compensation strategy; that message is loud and clear in this text.

If you are in HR or going into HR, this is a must read.

[Karen · Rating 5 out of 5]

The book is full of very useful information...I enjoyed reading it but found I had to re-read to make sure I fully grasped the concepts. The material itself is dense, but the book broke it down well and I'm much better off in my role for having read it. It's a keeper and will remain on my shelf for years to come as a reference tool.

[Dorothy]

This book looks a little scary.....as in compensation in the real world scary no fiction here it's all truth, I'll let you know what I think about this book that talks about pay model, internal alignment, job evaluation, employee benifits, and so on....

[Eric F · Rating 3 out of 5]

Given the dryness of the material, the authors do a great job of keeping the text light and engaging. It runs a little repetitive, and the pages that aren't broken up by an exhibit tend to drag a bit.

[Puja Gupta · Rating 3 out of 5]

handy info and useful reasoning

[Daniel Chew]

One of the best books on Compensation. I use Milkovick's Total Returns Model all the time in my teaching

[Helga]

The book is green, which I suppose is fitting for a book on compensation. Not compensation in the psychological sense, but rather the 'you work so you are getting paid' sense of the word. There are no fancy graphics, no fancy cover, and the paper is buff rather than super glossed. I have no idea why it cost more than my computer desk. Still, though, I like the lack of fanciness, since it makes it fear easier to carry. The other books weigh a ton and are the size of a TV tray.

[Nabil Mohamed]

chapter 8