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The book Compensation System and Performance Management is in three parts. The first part of the book deals with compensation management. It is one of the most important and strategic aspects of human resource management. It is a dynamic and complex field involving many workable principles and procedures. Laying down a sound compensation system and its implementation is one of the most complex assignments in an organisation. Over a period of years, the payment systems have taken different shapes and acquired multiple characteristics due to the rapidly changing technology and socio-economic transformation of the society. Consequently, different patterns of wage payment and methods of wage fixation began to assume an important role in the management of personnel in enterprises. In this context, the book deals with the concepts, theories, issues, and the practical application related to traditional and modern compensation, wages, and reward systems in India. The second part of the book covers performance management. A performance management system is a process of identifying, encouraging, measuring, evaluating, improving and rewarding employee performance.It provides information to employees about their performance; clarifies what the organisation expects; identifies development needs; and documents performance for personnel records. Strategic human performance in organisations is a function of three interrelated elements i.e., employee skills, employee motivation, and employee strategic focus. A thorough understanding of organisational objectives combined with knowledge of common errors in evaluation can make a significant difference in the quality of appraisals. Against this backdrop, an attempt has been made to present different dimensions of performance management including performance trends and perspectives. The third part of the book contains appendices, bibliography, and index. Contents : Part I Compensation System 1. Employee Compensation 2. Executive Compensation 3. International Compensation 4. Strategic Reward Systems 5. Job Analysis and Job Evalution 6. Wages An Overview 7. Wage Concepts and Theories 8. Wage Payments 9. Wage and Salary Administration 10. Wage Incentives 11. Wage Differentials 12. Wage Structure 13. Wage Fixation 14. Wage Legislation 15. Wage Policy Part II Performance Management 16. Employee Performance 17. Support Systems in Performance Management 18. Performance Appraisal 19. Process of Performance Appraisal 20. Methods of Performance Appraisal 21. Coaching, Mentoring, and Counselling 22. Competency Development 23. Team Performance 24. Evaluation of Performance Appraisal 25. Managing International Performance 26. Performance Systems-Trends and Perspectives Part III Appendices, Bibliography and Index Appendices Bibliography
