eloping a Compensation Strategy
George Milkovich and Renae Broderick
The management of change remains the challenge of the 1990s. The
objectives of this change are to foster better perfonnance, control costs, and
enhance flexibility--all necessary to successfully compete in fierce markets. All
managers are challenged by the pace and magnitude of this change. Human
resource managers are not excepted. being confronted daily with questions about
how to manage employees to support changes in technology, changes in
organization structures, and changes in business strategy. And employees
themselves are changing: in their values and expectations, their demographic
diversity, their education, and their willingness to accept change.
When confronted with the need for rapid and large-scale change, human
resource managers, like their counterparts in marketing, finance, and production,
tend to adopt strategies that enable them to manage their work forces effectively
in the face of uncertainty. Developing a human resource strategy requires
defining the worl