Compensation as A Strategic Business Partner
2 Summarize the role of compensation as a strategic business partner.
As noted earlier, personnel administration was transformed from a purely administrative function, engaged in transactions such as payroll processing, to a competitive resource in many companies emerging during the 1980s. Technological advances (e.g., the use of robotics in manufacturing) and global competition (e.g., increased imports of Japanese automobiles) contributed greatly to the need for a strategic approach. As a strategic business partner, HR and compensation professionals today need to think like the chief executive officer (CEO) to become a strategic partner in achieving organizational plans and results.6 Essentially, ...
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