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Recent Compensation Research - trends (Individual determinants (Behavioral…
Recent Compensation Research - trends
Individual outcomes
Levels of pay can impact job satisfaction and turnover.
Monetary incentives have substantial impact on performance
Environmental
How min. wage, FLSA, immigration reform etc. affect wages
Focus on wages, not types of pay
Firm
how practices at individual firms affect wages
Unionization
Job/group
Attributes, traints, tasks, requirements affect job worth
Displacement negatively affects subsequent wages; promotions tend positively affect later wages
Gender/race
Most research focuses on wage gap
More research is needed to see what else affects wage gap
Individual determinants
Behavioral
Social skills positively affect wage; smoking can be negative
Experiential
Education, Training, Language
Individual
Sexual orientation, native born, age, working spouses
Compensation pyschology
Compensation satisfaction can be related to general life satisfaction.
Organizational justice
Equity
Procedural justic
Ethical issues of compensation
Firm outcomes
Organizational performance
Sales, customer satisfaction
Group incentive plan
Benefits
Greater benefit usage leads to less turnover, and greater commitment to org
International compensation
US v other countries
Executive compensation
CEO pay
Conclusions
Variables in one area are included as controlled variables in other areas.
There is overlap among research areas
Different levels of analysis include other areas of research