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Connecting art and science in compensation practices

Strategic Compensation: A Human Resource Management Approach demonstrates the art and science of compensation practice and its role in a company’s competitive advantage. Through focused activities and supporting course material, students build a solid foundation to become proficient compensation professionals. The 10th Edition focuses on the context of compensation practice, the criteria used to compensate employees, compensation system design issues, employee benefits, the challenges of compensating key strategic employee groups, and pay and benefits around the world. With this text, students gain the knowledge and skills they need to assume the role of successful compensation professionals in the field.

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Joseph J. Martocchio
My interest in the human resource management field began while I was a junior at Babson College and in compensation, particularly, while I was a first-year graduate student at Michigan State University. I found myself wanting to practice in the field as well as become a university professor and researcher. I pursued both professional desires starting with employment at Cameron and Colby (a reinsurance company) in Boston and General Electric’s Aerospace business group in Valley Forge, PA.

I advanced my education in the human resource management (HRM) field by earning a master’s degree and PhD degree at Michigan State University. My master’s degree enabled me to build an even stronger foundation in practice and my doctoral degree provided me with the skills to conduct scholarly research and teach college-level courses. Since earning my graduate degrees, I have been a professor in the School of Labor and Employment Relations at the University of Illinois, Urbana–Champaign and assumed administrative roles as a Provost Fellow, Associate Dean for Academic Affairs, and Interim Dean. All the while, I have taught a variety of courses in the HRM field. These include compensation systems, employee benefits, employment systems (HRM and labor relations), HR planning and staffing, and statistics. I also teach the compensation and statistics courses online. For many years, I served as the faculty advisor to the student chapter of the Society for Human Resource Management at the University of Illinois during which time students earned Merit Awards and Superior Merit awards on multiple occasions.

As a researcher, I have studied a variety of topics that include employee absenteeism, employee training and development, compensation systems, employee benefits, and generational diversity. My work appears in leading scholarly journals such as Academy of Management Journal, Academy of Management Review, Journal of Applied Psychology, Journal of Management, and Personnel Psychology. I received the Ernest J. McCormick Award for Early Career Contributions from the Society for Industrial and Organizational Psychology (SIOP), and I was subsequently elected as a Fellow in both the American Psychological Association and SIOP. Following the attainment of this recognition, I served as the Chair of the HR Division of the Academy of Management as well as in various other leadership roles within that organization.

In 2018, a study in the Academy of Management Learning and Education revealed that I am in the top one percent of the most influential HRM authors out of a total of 9,744 people. Besides writing scholarly articles and Strategic Compensation: A Human Resource Management Approach. I have two additional sole-authored textbooks: Human Resource Management (Pearson Higher Education), 15th edition, and Employee Benefits: A Primer for Human Resource Professionals (McGraw-Hill), 6th edition.

PART I: SETTING THE STAGE FOR STRATEGIC COMPENSATION 

1. Strategic Compensation: A Component of Human Resource Systems 

2. Contextual Influences on Compensation Practice 

PART: II BASES FOR PAY 

3. Traditional Bases for Pay: Seniority and Merit 

4. Incentive Pay 

5. Person-Focused Pay 

PART III: DESIGNING COMPENSATION SYSTEMS 

6. Building Internally Consistent Compensation Systems 

7. Building Market-Competitive Compensation Systems 

8. Building Pay Structures that Recognize Employee Contributions 

PART IV: EMPLOYEE BENEFITS 

9. Discretionary Benefits 

10. Legally Required Benefits 

PART V: CONTEMPORARY STRATEGIC COMPENSATION CHALLENGES 

11. Compensating Executives 

12. Compensating the Flexible Workforce: Contingent Employees and Flexible Work Schedules 

PART VI: COMPENSATION ISSUES AROUND THE WORLD 

13. Compensating Expatriates 

14. Pay and Benefits outside the United States 

Epilogue: Challenges Facing Compensation Professionals 

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