In this work, management expert Edward Lawler tells companies what they can do to meet today's "rewards systems challenge" -- attracting and retaining talented employees in a market where the employees hold the upper hand.

Preface The Author Introduction Part One: Rewards and Organizational Performance 1. Organizational Effectiveness: The New Logic 2. Reward System Design Choices 3. Motivating and Satisfying Excellent Individuals Part Two: Attracting, Developing, and Retaining Employees 4. Attracting and Selecting Excellent Employees 5. Job- and Seniority-Based Approaches 6. Developing and Retaining the Right Individuals Part Three: Rewarding Performance 7. Rewarding Individual Performance 8. Appraising Performance 9. Rewarding Team Excellence 10. Rewarding Organizational Excellence Part Four: Strategic Design 11. Strategic Reward System Design 12. Creating High Performance Organizations

In the new economy, human capital, perhaps more than any other asset, is an organization's chief source of competitive advantage. And if your company wants to attract, retain, and motivate the kind of people it needs to hold that advantage, it needs to develop a reward system that recognizes their market value and rewards them for developing their knowledge and skills. It needs a system that encourages high performance as it rewards excellence. In this book, acclaimed management expert Edward E. Lawler III identifies a variety of reward system practices that support the high-performance organization model. He shows how the development of core competencies and organizational capabilities is enhanced once a company learns how to pay people instead of jobs. He also details new methods for measuring and rewarding performance and for determining how much of an individual's pay should be based on performance. You'll get useful advice on how you should conduct performance appraisals and how you can structure a pay system that suits your organization and serves its strategic goals. You'll benefit from Lawler's practical discussions and guidelines regarding the appropriateness of such practices as team-based pay, 360-degree performance appraisals, stock options, incentive pay, and skill-based pay. Moreover, you'll learn how to design a reward system that attracts excellent employees, inspires excellent performance, and makes for a stronger, more profitable enterprise. More than just a book about paying individuals, Rewarding Excellence is a blueprint for designing and managing pay systems that create excellent organizations. It's about gaining competitive advantage by maximizing the potential of human capital. And so, ultimately, it's about the future effectiveness of your enterprise.

"Ed Lawler again expands our knowledge regarding a critical management challenge: how to align reward systems with the evolving organizational forms emerging in the new economy. In this new book, he provides CEOs and HR leaders with an easy-to-follow map for building organizational effectiveness through strategic reward system design." --Daryl D. David, vice president of human resources and strategic growth, Amazon.com, Inc. "Once again, Ed Lawler has written a book human resource professionals can use. Rewarding Excellence provides an excellent blueprint on how to design compensation systems that will attract and retain workers in today's knowledge economy." --Michael R. Losey, president and CEO, Society for Human Resource Management "Leadership capital is a vital corporate resource-perhaps the most critical of all in building for the future. As the 'war for talent' escalates, Ed Lawler's new book provides companies of all sizes with innovative ways to attract, retain, and motivate executives-and to maintain competitive advantage." --Richard M. Ferry, chairman, Korn/Ferry International "Worried about your business in the new millennium business economy? Ed Lawler provides cutting-edge concepts for building high-performance organizations!" --Steven L. Miller, chairman, president and CEO, Shell Oil Company

Preface. The Author. Introduction. REWARDS AND ORGANIZATIONAL PERFORMANCE. 1. Organizational Effectiveness: The New Logic. 2. Reward System Design Choices. 3. Motivating and Satisfying Excellent Individuals. ATTRACTING, DEVELOPING, AND RETAINING EMPLOYEES. 4. Attracting and Selecting Excellent Employees. 5. Job- and Seniority-Based Approaches. 6. Developing and Retaining the Right Individuals. REWARDING PERFORMANCE. 7. Rewarding Individual Performance. 8. Appraising Performance. 9. Rewarding Team Excellence. 10. Rewarding Organizational Excellence. STRATEGIC DESIGN. 11. Strategic Reward System Design. 12. Creating High Performance Organizations.