This book delivers a thoroughly modern approach to compensation and its role in promoting companies' competitive advantages. Preface, Introduction, Setting the Stage for Strategy Compensation, Compensation: A Component of Human Resource System, Strategic Compensation: Attaining a Competitive Advantage, Contextual Influences on Compensation Practice, Bases for Pay, Traditional Bases for Pay: Seniority and Merit, Incentive Pay, Pay-for-Knowledge and Skill-Based Pay, Designing Compensation Systems, Building Internally Consistent Compensation Systems, Building Market-Competitive Compensation Systems, Building Pay Structures That Recognize Individual Contributions, Employee Benefits, Legally Required Benefits, Discretionary Benefits, Contemporary Strategic Compensation Challenges, International Compensation, Compensating Executives, Compensating the Flexible Work Force: Contingent Employees and Flexible Work Schedules, Glossary of Key Terms, Author and Subject Index.