As the leading book in its field, Compensation Management offers a practical exploration of the systems, methods, and procedures involved in establishing and administering a compensation system within any organization. In-depth explanations of the procedures involved in establishing and administering a compensation system including, analyzing work requirements and designing a job, determining job worth, establishing job rates of pay, the elements of a total compensation package, and the importance of labor costs in a modern economy. For compensation managers, HR professionals, and others who want to know about the aspects of establishing and administering a compensation system.