Equip yourself to manage, motivate, compensate, and reward everyone in this workplace revolution
The future of work is here. From the shift to Millennials and Gen Z in the workforce to the advent of the Fourth Industrial Revolution and the Gig Economy, the world of work and rewards has significantly changed since the initial WorldatWork Handbook was published. Human resources and total rewards professionals need tools to equip them to manage a changing workforce. This completely revised second edition addresses the challenging and disruptive issues facing employers today and tomorrow.
The WorldatWork Handbook of Total Rewards is the definitive authority on compensation and rewards from the leading global nonprofit organizations for professionals who are engaged in the critically important practice of total rewards. This book is a go-to resource for all business professionals and leaders who reward and create productive, committed and inspired workforces worldwide. Readers will learn the basics of rewards, along with a deep dive and high-level view of how rewards programs enable organizations to deliver on their brand promises and perform at their optimal level.
- Gain a thorough understanding of compensation and benefits, along with employee well-being, development, and recognition, all updated to address the realities of today’s workplace.
- Understand why the Millennial and Gen Z workforce requires a different value proposition, and how to meet their needs.
- Discover the tools and techniques you need to help you reskill and become a highly valued workforce contributor and leader in the digital era.
- Learn how to attract, retain, and engage talent by building a healthy workplace culture and employing unique incentives that drive high performance and loyalty.
Technical enough for specialists but broad in scope for managers and HR generalists, this well-rounded resource belongs on the desk of anyone interested in organizational effectiveness. An indispensable tool for understanding and implementing the total rewards concept, The WorldatWork Handbook of Total Rewards, Second Edition is the key to designing programs and practices that ensure employee engagement and organizational success.
Table of Contents
Acknowledgments vii
Foreword: Finding Our Way Forward xi
Introduction: 4IR: It’s the End of Work as We Know It (and the Rewards Are Fine) xvii
1. The Power of Total Rewards 1
2. Everything You Want to Know about Compensation (but Were Afraid to Ask) 24
3. Market Pricing and the Battle for Prize-Winning Talent 67
4. Linking Pay to Performance via Merit Pay 86
5. Executive Pay Disclosures, Trends, and Challenges 115
6. Sales Compensation Essentials 138
7. The Changing Face of Employee Well-Being 170
8. Benefits Basics 196
9. How to Reskill Your Workforce through Continuous Development 239
10. How to Recognize and Reward Your Top-Performing Employees (with Cash Bonuses and Praise) 256
11. The Cornerstone of a Global Employee Engagement Strategy 272
12. Corporate Accountability in a Diverse and Inclusive World 292
13. Pay Equity and Rewards Fairness 314
14. Contingent Workers and the New Talent Value Proposition 331
15. The Present and Future of Work: Digital Disruption, Automation, and Reskilling 346
References by Chapter 365
Index 373
