外文翻译薪酬体系.docx

外文翻译薪酬体系.docx

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外文翻译薪酬体系

毕业论文材料：

英文文献及译文

课题名称：

薪酬体系

专业工商管理

学生姓名

班级B工商072

学号

指导教师

专业系主任

完成日期二零一一年三月

TheChangingPatternofPayandBenefits

Tudor,ThomasR,Trumble,RobertR

JournalofCompensation&Benefits/May/2008

Today,manycompaniesstillbasetheirrewardsystemsonthe1950scompensationmodelmadepopularduringthebriefperiodwhenU.S.companiesdominatedtheworld.Withtodaysincreasinglycompetitiveenvironment,however,companiesmustlookmorecloselyatthecost-benefitofrewards,insteadofjustusingtheminanattempttoreduceemployeedissatisfaction.Companiesmustprovideshort-termmotivationandencourageemployeestodeveloplong-termskillsthatwillaidthecompany.Mostimportantly,companiesmustalsoattractandretainhighperformers,insteadofalienatingthemwithpaysystemsthatgiveeveryonepayincreaseswithoutregardtolevelsofperformance.Forexample,suchnewcompensationapproachesmayincludeskill-basedpay,gainsharingplans,andflexiblebenefitssystems.

Traditionalcompensationapproachesarestilloftenmodeledonthecentralization-basedorganizationalmodel,inwhichdecisionsweremadeatthetopandmanagementrigidlydefinedtasks.However,withglobalcompetitionbecominganincreasinglyprominentissue,companiesneedrewardsystemsthatmatchtheirmovementtodecentralizedstructures.Largernumbersofcompaniesarealsobecomingveryawarethattheycannotjustpassadditionalcompensationcostsontofuturecustomers.Today,ourpaysystemsmustmoveinstepwiththeparticipative-managementtrendbybecomingmoreflexibleinsteadofremainingfixed.Thisadjustmentinvolvesmanyfactorsincludingshorterproductlifecycles,aneedtobemoreflexible,aneedforworkerstocontinuallygainadditionalskills,andforthemtothinkmoreonthejob.

Intoday'smostsuccessfulcompanies,employeerewardsandbenefitsareincreasinglyincorporatedintoanorganization'sstrategicplanning.Why?

Therationaleisthatemployeecompensationhasasubstantialimpactonthelong-termfinancialpositionofafirm.Compensationstructuresshouldconsideranorganization'sstrategicrequirementsandshouldmatchorganizationalgoals.Compensationstrategicplanningshouldinvolve:

considerationoftheinternalandexternalenvironment;andcreationofanorganization'scompensationstatement,compensationgoals,andthedevelopmentofcompensationpolicies.

Today,onestrategiccompensationtrendistheuseofpayincentivesinsteadofthetraditional,annual“everybodygets”payincrease.Therationaleistocontrolcostsandtomorecloselytieperformancetocompensation.Wecangroupthechangingpatternofcompensationintotwogeneralareas:

PayMethodTrendsandBenefitsTrends.HumanResourcesmanagersshouldfamiliarizethemselveswiththesechangingtrendsanddeterminetheplanthatismostsuitablefortheirorganization.

PAYMETHODTRENDS

Thereareanumberofpaymethodsavailableforusebyemployers,includinggeneralpayincreases,cost-of-livingincreases,meritpay,bonuses,skill-basedpay,competence-basedpay,CEOcompensation,gainsharing,andvarioustypesofincentivepay.

GeneralPayIncrease

Ageneralpayincreaseisapayincreasegiventoeveryoneinacompany.Itcanbealump-sumpayment,butitismorelikelytobeapercentageincreaseinbasesalary.Theemployer'srationaleforthepayincreasemayhavebeentheresultofamarketsurvey,jobevaluation,orjustaprofitableyear.Thetrend,however,isforgeneralincreasestodeclineaspay-for-performancesystemsbecomeincreasinglydominant.Inaddition,givingeveryonethesameraisesometimesdecreasesmoralebecausehigh-performingemployeesseepoorperformersgettingthesamereward.

Cost-of-LivingIncrease

Cost-of-livingincreasesaregeneralpayincreasestriggeredbyariseinaninflation-sensitiveindex,suchastheconsumerpriceindexortheproducerpriceindex.Aswithgeneralpayincreases,theuseofcost-of-livingpayincreasesisdecreasingamongcompanies.Therationaleforthisdecreaseisthatwithlowerinflation（thuslittlechangeinprices）,incomesaremorestableandtheneedforinflationadjustmentsisnotasgreatasitwasinthepast.Inaddition,collectivebargainingagreementsarenowlesslikelytoincludeprovisionsforcost-of-livingincreases,sononunionfirmsarenotunderasmuchpressuretoprovidetheminanattempttomatchunion-negotiatedcompensation.Theirdeclinecanalsobeattributedtothefactthatemployersaremovingawayfrompaysystemsthatarenonperformancerelated.

MeritPay

Meritpayisanothergenericterminwhichpayincentivesaregivenforoveralljobperformance.²Someproblemsfrequentlyencounteredwithmeritpayplansinclude:

∙theuseofsubjectivecriteriawhenmeasuringemployeeperformance;

∙alackofuniformstandardsforratingindividualemployees;

∙differencesamongmanagersinhowtomakeindividualratings.

Meritpaywasthefirstattemptbyfirmstocreateapay-for-performancesystem.However,duetoemployer（andemployee）dissatisfactionwithmeritpayplans,thetrendistoeliminatethemandinsteadusepay-for-performanceplansthataremoreobjective（suchasbonusplans）,andthatusespecificperformancemeasuringcriteriathataidintheperformanceappraisalprocess.³Thistrendincludesboththeprivateandpublicsectors,becausethemeritpaysysteminthefederalsectorhasalsobeeninadequate.

Bonus

Abonusisagenericterminvolvingatypeofpay-for-performanceplan.Managerscangiveabonusforindividualorgroupperformance,andformeetingobjectivessuchasMBO（managementbyobjectives）.Researchersandpractitionershavegiventheseplanshighmarksformotivatingemployees,forcreatingloyalty,andformeetingperformanceobjectives.Inaddition,bonusesreducetheturnoverofhigh-performingemployeesandincreasetheturnoveroflowperformers,whodonotgetbonuses.Ifthebonussystemiswell-designed,theyalsocreateinternalequity.Assuch,bonussystems（pay-for-performance）arethecurrenttrendincompensation.

Skill-BasedPay

Skill-basedpayemphasizesacompany'sdesiretoincreasetheskillsandknowledgeofitsworkforce.Itmayinvolveclasses,voluntaryjobrotation,ortests.Itsbenefitsaremany,includinghavingtrainedpeopleavailabletodoajobifsomeoneisabsent.Skill-basedpayalsoworkswellwithqualitycirclesbecause:

∙itprovidesemployeeswithabetterunderstandingofthejobstheircoworkersperform;

∙itreducesresistancetorestructuringorotherneededchanges;

∙itleadstoamoreflexible

workforcethatcanbetteradapttonewtechnologiesorprocesses;anditencouragesalearningenvironment.Itdoes,however,requirealargeinvestmentintrainingwhichcanbeexpensive.

Competence-BasedPay

Competence-basedpay（thegridsystem）isverynewanddoesvaryfromplan-to-plan.Theideaisnotonlytorewardemployeesforhowwelltheydoajob,butforhowtheydothejob.Forexample,acompetence-basedpayplancanbeusedtopersuadeworkerstousethecomputersthataresittingontheirdesks,ortoadapttootherchangesthatcomealong.Therationalebehindacompetence-basedpayplanistokeepemployeeskillscurrent.

CEOCompensation

ThecompensationofCEOs（andothertopexecutives）hasalsobeenchanging,andnowincludesmorepayincentives—suchasstockoptions—tobetterlinkperformancewithcompensation.Planslinkingexecutivepaywithperformancemayincludestockoptions,cashbonuses,phantomstock,ordeferredcompensation,allofwhicharewaysofmakingtopmanagementmoreaccountableforcompanyperformance.Today,performanceconsiderationsarealargerpartofexecutivecompensation.TheSecuritiesandExchangeCommissionalsorequirescorporationstoexplaintherationalebehindtheirexecutivecompensationprogramstoshareholders.

Gainsharing

Gainsharingisapay-for-performanceplaninwhich“gains”aresharedwithemployeesforimprovementsinprofitabilityorproductivity.Gainsharingplansaredesignedtocreateapartnershipwithemployeessothatbothmanagementandlaborareworkingtowardthesamegoalsandthatbothgroupsarebenefitingfromtheresults.Gainsharingisagrowingtrend,anditfitswellwithothertrends,suchasparticipatorymanagement,workerempowerment,andteamwork.Itisalsobeingusedinmanyservicebusinesses,suchasbankingandinsurance.Gainsharingencouragesemployeeinvolvementandacceptanceofchange,andalignsemployeegoalswithcompanygoals.

FiveTypesofPayIncentives

Whileallpayincentivescanbegenericallycoinedas“gainsharing,”wewillbrieflymentionfivetypes:

1.ESOPs.EmployeeStockOwnershipPlansallowthesharingofgainsthroughdividendsandanyincreaseinthevalueofcompanystock.ESOPsdocreateownershipinthecompanyforemployeesthatmayresultinadditionalmotivation,buttheydonotnecessarilyhaveaparticipative-managementcomponent.

2.Profit-SharingPlans.Profit-sharingplansallowemployeestoshareintherevenuetheyhelpedgenerate.Thissharingcanbeeitherdeferredorimmediate.Someobserversarguethatassociatingrewardsandperformanceisdifficultifmanagersonlygiverewardsannually,andthatperhapsemployeesshouldnotshareintheprofitsbecausetheydonotshareintherisks.However,companiessuchasLincolnElectricandFordfeelthatprofitsharingisastronginducementtoincreaseperformance.Thecurrentrateofgrowthoftheseplansissignificant.Forbestmotivationalresults,companiesshoulduseasystemthatisbasedonsomecriteriathatemployeesunderstand,insteadofjustanarbitraryamount.Theadvantageofprofitsharingplansisthatemployersd