Identification and classification of compensation components for Faculty Members with Interpretive structural Modelling (ISM) method (case study: selected universities of mazandaran province)

Document Type : Original Article

Authors

1 دانشگاه مازندران

2 Associate Professor, Department of Business Management, Faculty of Economics and Administrative Sciences, Mazandaran University, Babolsar, Iran.

3 Assistant Professor, Department of Industrial Management, Faculty of Economics and Administrative Sciences, Mazandaran University, Babolsar, Iran.

10.22080/shrm.2021.3560

Abstract

Given the challenges of new ventures, management of total rewards considered as the main concern for HRMS and management. In this regard, designing effective compensation programs is one of the most important measures of HRM plays an important role in attracting, retaining HRS and thus the success of the organization, because achieving and maintaining the competitive advantage of organizations depends on attracting and retaining Qualified HRS and commensurate with organizational goals .According to the importance of compensations in organizations. The main purpose of this study is identification and classification of compensation components for faculty members.
in this research, qualitative-quantitative interpretive structural modeling was used to identify and prioritize the components.at first, experts compensation models were examined and the most important components were identified. By Using two separate questionnaires based on the experts opinions19 final components were approved and placed at 6 levels.
The components of COLAS, organizational status and prestige, incentives, financial and cash rewards based on performance and independence at work are expressed at the first level as the most effective components and all of the components lead directly and indirectly to these 4 components. two components of base pay and challengment job at the sixth level act as the cornerstone of the faculties' compensation system model, and strengthening these two components will lead to improvements in the compensation system or any fundamental change and improvement in a compensation system, must be done through these components and these are expressed as the most effective component in the compensation system.

Keywords

References

Aliakbari, E., & Akbari, M. (2017). Interpretive-structural modeling of the factors that affect the viability of Tehran Metropolis. The journal of spatial planning, 21(1), 1-31. (In Persian)
 
Armstrong, M., & Murlis, H. (2007). Reward management: A handbook of remuneration strategy and practice. Kogan Page Publishers.‏
 
Bana, W. M. (2019). Employee Compensation and Workplace Diversity. International Journal of Education and Research, 7(1), 235-250.
 
Bhattacharyya, D. K. (2009). Compensation management. Oxford University Press.
 
Deng, B. (2016). The Analysis of Colleges and Universities’ Compensation System Reform Based on the Total Compensation Theory. DEStech Transactions on Environment, Energy and Earth Sciences, 52-57.
 
Darma, P. S., & Supriyanto, A. S. (2017). The effect of compensation on satisfaction and employee performance. Management and Economics Journal (MEC-J), 1(1), 69-78.
 
DeCenzo, D. A., Robbins, S. P., & Verhulst, S. L. (2016). Fundamentals of human resource management. John Wiley & Sons.
 
Divandari, A., Nazari, M., Seyed Javadin, S., Haji Karimi, A., & Rayej, H. (2018). Investigating the Effect of Compensation on Individual Performance: A Study on the Mediating Role of Internal Motivation and the Moderating Role of Self-efficacy and Reward Expectancy. Journal of Business Management, 10(3), 673-694. (In Persian)
 
Emmanuel, T. (2018). The impact of Reward Systems as a Motivation tool for Employees Performance, Doctoral dissertation, Dublin, National College of Ireland.
 
Ghanbari, V., & Safaei Shakib, A. (2017). Structuring quality management issues with an interpretive structural modeling approach. Scientific-Extension Quarterly of Standard and Quality Management, 7(1), 6-15. (In Persian)
 
Hong, P. (2017). The Literature Review on Compensation System Design. Modern Economy, 8(9), 1119-1128.
 
Jahani, A. (2017). Familiarity with the academic ranks of university professors. Choobar News. available in: http://chobar.ir/fa/news/7878/%D8%A2%D8%B4%D9%86%D8%A7%DB%8C%DB%8C-%D8%A8%D8%A7-%D9%85%D8%B1%D8%A7%D8%AA%D8%A8-%D8%B9%D9%84%D9%85%DB%8C-%D8%A7%D8%B3%D8%AA%D8%A7%D8%AF%D8%A7%D9%86-%D8%AF%D8%A7%D9%86%D8%B4%DA%AF%D8%A7%D9%87/
 
Kaplan, S. (2005). Total rewards in action: Developing a total rewards strategy. Benefits & Compensation Digest, 42(8), 32-37.
 
Manas, T. M., & Graham, M. D. (2003). Creating a total rewards strategy: A toolkit for designing business-based plans. AMACOM/American Management Association.
 
Milkovich, G. T., Newman, J. M., & Milkovich, C. (2014). Compensation. New York, NY: McGraw-Hill/Irwin.
 
Martocchio, J. J. (2017). Strategic compensation: A human resource management approach. Pearson Education India.
 
Mondy, R. W., & Martocchio, J. J. (2016). Human Resource Management, England: Pearson Education Limited, Pearson; 14th edition.
 
Nemati, S., Khaeef-elahi, A. A., & Momeni, N. (2013). Designing Compensation System in Knowledge-Based Organization (KBO) by Interpretive Structural Modeling (ISM) Approach. Organizational Resources Management Researchs, 3(2), 131-151. (In Persian)
 
Mohamed-Padayachee, K. (2017). A total rewards framework for the attraction and retention of the youth. Doctoral dissertation business leadership, University of South Africa.
 
Ruddy, A. C. (2007). The world at work handbook of compensation, benefits & total rewards: A comprehensive guide for HR professionals. New Jersey: John Willey & sons Inc.
 
Yamani-douzi Sorkhabi, M., & Torkzadeh, J. (2009). Investigating the Situation of Development Planning in the Iranian State Universities. Iranian Higher Education Association Quarterly, 1(4), 1-19. (In Persian)
 
Zafari, A. (2018). Identifying and prioritizing the components of service compensation (studied by Bank D). Master Thesis, Islamic Human Resource Management, Faculty of Management, Kharazmi University. (In Persian)
 
Journal of Sustainable Human Resource Management
Volume 3, Issue 4
May 2021
Pages 275-253

Files

Share

How to cite

Statistics