Conclusion and Implications

Jonathan Trevor

Chapter 10 in Can Pay Be Strategic?, 2010, pp 200-207 from Palgrave Macmillan

Abstract: Abstract The most recent development in pay theory proposes that pay, when used strategically, is a powerful means through which companies are able to secure competitive advantage. As a management tool, the advocates of what is now standard theory position pay as a lever through which management might enhance company performance and secure competitive advantage by attracting and retaining valued labour, driving effort and performance and encouraging desired behaviours among the broad-based workforce. Economy-wide pay trend data reviewed in Chapter 2 — the literature review — indicates that a significant number of employers have embraced a strategic approach to pay, especially within the private services sector. A review of pay trend data specific to the UK FMCG sector indicates an even greater inclination towards the use of strategic pay systems among companies.

Date: 2010
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DOI: 10.1057/9780230298958_10

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