Book Review on "Lessons Learned for HR Development From the Compensation Handbook"

Book Review 6 pages (1903 words) Sources: 4

[EXCERPT] . . . .

A workplace culture sets the bar and is the barometer of behavior that leads naturally to success and compensation. It shows exactly what is wanted and how it should be given. By aligning themselves with this culture, employees can set the stage for their own advancement.

The added bonus of this implementation of a strategic culture is that it acts as an incentivizing of employees at every level by giving them a compensatory reason to excel -- whether it is the public admiration of their peers, monetary reward, or something as simple as earned time off, the strategy should be linked to the overall aim of the company and in line with the company's ethical standards and organizational practices. In other words, rewards should be based on contribution (both moral and productive) on the part of the worker, group or team.

By promoting this strategy of lining up compensation with culture in order to harmonize every aspect of the organization and make every level of action more cohesive, I would be applying the lessons learned from this book to good effect. The value of basing compensation on organizational culture incentives is that it promotes positive behavior that is in line with the aims of the company and does not disconnect employee commitment and production from the goals of the organization or its overall success as was the case in the past.

In other words, the evolution of compensatory practices both on the part of organizations themselves and regulatory bodies such as the SEC have helped to set the strategy and align the objectives not only of businesses internally but also of businesses and society, which helps to create an overall cultural link between organizations and their external environments. Harmonizing the internal environment accordingly is a great first step by the HR to ensure that the company is integral and integrated with society's own standards of ethical behavior, expectations, needs and demands, both of consumers and regulators.

References

Beer et al. (1984). Managing Human Assets. The Free Press: New York, NY.

Berger, L., Berger, D. (2008). The Compensation Handbook. NY: McGraw-Hill.

Jacqui, L., Cairncross, G., Lamont, M. (2014). Inducting and training Generation Y

volunteers: a sport event case study. Proceedings of the CAUTHE 2014: Tourism and hospitality in the contemporary world: trends, changes and complexity. Brisbane: University of Queensland: 363-374.

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