Compensation Systems, Job Performance, and How to Ask for a Pay Raise

Copyright © 2016 by Dr. Paulett Hemmings Ph.D.

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Rev. date: 09/13/2016

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Contents

About The Author

Foreword

Preface

How To Use This Book

Part 1

Chapter 1

Chapter 2

Chapter 3

Chapter 4

Chapter 5

Part 2

Chapter 6

Chapter 7

Chapter 8

Chapter 9

Words Of Upliftment

Conclusion

Glossary

References

Compensation Systems, Job Performance,

And How to Ask for a Pay Raise

Dr. Paulett Hemmings Ph.D.

ABOUT THE AUTHOR

P AULETT HEMMINGS IS the CEO of 360 Performance Solutions (360performancesolutions.com) consulting company, and she teaches business professionals how to be outstanding leaders. Her area of expertise is organizational improvement and human resource management. As an undergraduate, Paulett attended Pace University in New York, where she received her BBA in General Management. She furthered her studies and graduated from Long Island University, New York with an MBA in Management. Paulett earned her Ph.D. in Organization and Management from Capella University and recently graduated with a Post-Doctorate Certificate in Human Resource Management from Walden University, Minneapolis. Some of Paulett Hemmings’ professional affiliations are the Society for Human Resource Management (SHRM), American Society for Quality (ASQ), National Association of Professional Women (NAPW), and American Association of University Professors (AAUP). Paulett is a NAPW VIP member and received the 2015-2016 Professional Woman of the Year Award for outstanding leadership and commitment within her profession.

FOREWORD

P ROPER COMPENSATION AND reward systems are critical means to increase productive advantages for most organizations. Therefore, there is a need for various methodologies to be used in developing an organization’s compensation benefits program. The purpose of this book is to analyze compensation and rewards, and to provide a guide on how to ask for a pay increase. Having a wide perspective on compensation, one is able to understand the different aspects that go into strategic business thinking and how the compensation package is organized.

It is important to note that employees may not be willing to dedicate time and effort to their work if they are not recognized for it, whether they are located locally or globally. They will, in turn, decrease productivity to compensate for their lack of appropriate pay and benefits. Solid reward packages need full consideration and attention in their development. Organizations should, therefore, deliberately create a reward package that supports retention, employee development, and quality of life in order to maintain strong performance and full productivity (Gross & Friedman, 2004). The productivity of the organization is connected to the total-rewards and also to the overall business strategy prepared and executed on an ongoing basis. Strategies should therefore be created to enable qualified employees to receive their reward at the appropriate time for the right reason.

PREFACE

E MPLOYEES PERFORM ASSIGNED tasks, and the organization pays them for their work productivity. Compensation involves an exchange of labor for pay and benefits, and both the employer and the employee gain value from this transaction. Compensation is comprised of many different types of rewards and recognitions. Reward systems include base pay, incentive, merit, vacation, sick pay, health insurance, and such things as cell phone, housing, or car allowance. Recognizing employee