Section Fouropposed to the job. Because workforces with high skill levels
will be needed to obtain future competitive advantages, the
alignment of rewards with skill acquisition can be critical to
successful strategy implementation. The new compensation
approach of broadbanding also was examined. Broadbanding,
like skill-based pay, facilitates efficient workforce utilization.
There also was a discussion of team-based pay, which rewards
cooperative efforts, and a discussion of variable compensation.
Variable compensation is becoming more widely adopted
because it helps to create a sense of shared destiny among all
employees. Such plans place a portion of employees’
compensation at risk and then link that portion to the
achievement of overall performance goals. Variable
compensation also has the potential to contribute to
employment security. The role and current status of executive
compensation also were examined.
Following the discussion of compensation systems, employee
and management development were discussed as means of
strategy implementation. Several training methods were
examined, including both traditional and evolving approaches.
These included new employee orientation, socialization,
coaching, mentoring, computer-based training, computer-
assisted training, experiential training, and job rotation. The
training approaches of apprenticeships, which may receive
greater emphasis in the future, and management development