Innovative Reward Systems for the Changing Workplace

Restructuring? Reward employees for changing, too. Say good-bye to the outmoded reward systems of the hierarchical command-and-control organization. The ``Reward Right Model'' helps companies undergoing ambitious change--TQM, self-directed work teams, reengineering, downsizing and more--develop a new system that replaces competition with collaboration. Featuring real-world case studies of four well-known companies, Innovative Reward Systems for the Changing Workplace, by Thomas Wilson, gives you the techniques you need to restructure such compensation components as base pay, performance management, and corporate recognition around the need to meet new company goals. The result? A Compensation plan that truly motivates people to change--and rewards them when they do.

Why should you be concerned about your organization's reward system? You can't expect to , stimulate greater productivity or motivate today's employees with yesterday's reward systems--and the unfortunate truth is, most organizations continue to use systems and practices that are based on outdated models of control and entitlement. They simply don't work anymore.

With the first edition of the groundbreaking Innovative Reward Systems for the Changing Workplace, Thomas Wilson--a pioneer of the "Reward Smart" model of restructuring reward systems--explained how to reward collaboration and teamwork. In this timely update, he gives you the tools you need to create reward strategies that reinforce the values and culture your organization needs to prosper for the long term.

In this new edition, you'll find in-depth coverage of the major new trends, including:

• Flexing compensation in a "down" market
• Stock options and other new types of pay
• Integrating 360 feedback into reward systems
• New technology for employee compensation
• Forced employee ranking

This is the only book that fully integrates all programs involved in rewards--formal and informal, short-term and long-term, cash and symbolic, performance and culture driven.. You'll learn how to develop a portfolio of high-impact reward programs that are based on well-researched, established principles--and implement a plan of action that will enable you to more quickly and effectively create an organization that has enduring competitive advantage.

Wilson provides a thorough examination of the basic types of reward systems and provides guidelines for designing or redesigning programs in your workplace. You'll discover how to enhance the spirit of collaboration, find a wide range of alternatives to cash rewards, create team incentives, and attract the most talented people to your organization. Innovative Reward Systems for the Changing Workplace will enable you to create psychologically valid, state-of-the-art reward and recognition systems that really work!

Praise for the First Edition of Innovative Reward Systems for the Changing Workplace

"Content rich and yet very easy to read. " --Lou Richman, Fortune Magazine

". . . (This) book is timely, insightful, comprehensive, informed by firsthand experience, and above all, useful." --Rosabeth Moss Kanter, Harvard Business School

Take your workplace to the next level! In this timely update of his breakthrough book, rewards systems authority Thomas Wilson explains the strategies today's successful companies use to focus, encourage, and reward employees and managers--from spot bonuses to team celebrations, from base pay to stock options, from forced ranking to innovative employee benefits. He guides you through the maze of compensation decisions and shows you how to use traditional approaches in new ways for spectacular outcomes in any organization. You'll discover how rewards work and why they sometimes fail; how to make recognition strategic and special in your company; and how to develop a long-term reward strategy that will make your organization more effective, more productive--and more competitive.