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Recent(ish) Compensation Research (Environmental determinants (Legal: min…
Recent(ish) Compensation Research
Process & whatnot
categories mutually exclusive and broad
Compensation = "all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship"
wow they took some meticulous notes about the process
Environmental determinants
Legal: min wage, Fair Labor Standards Act, immigration reform, arbitration statutes, wage laws, airline/railroad deregulation, state health insurance regulation, layoff legislation
Business: econ, technological change, global competition, environmental uncertainty, expected inflation, unemployment risk, unionization
industry: wages in fed/state gov't, steel industry, grocery, health care; injury risks, employment share, union activity, productivity
focus: wages, legal/industry
Firm determinants
effects of firm practices, unionization,
high performance work practices, strategic orientation, diversification strategy, outsourcing, HR
focus: wages, not human decision process
Job & Group Determinants
effect of job factors, changes, group
job attributes: supervisory responsibility, shift work, computer usage; tasks, requirements
little focus on how pay should differ between groups
Gender & Race Determinants
wage gaps: methodology improvements for measuring gap
gender factors: external labor market strategies, family, education, affirmative action, productivity, promotions, access to pwoer, marriage, training, mentoring, negotiation skills
race factors:occupational choice, productivity, education, labor force attachment (???), employer monitoring, English fluency, job tenure, experience
unexplored: affect bonuses, other incentives, benefits?
Individual determinants
behavioral:(Positive) social skill, task performance, contextual performance, helpful behavior, lateral moves; (Negative) absence, cigarette smoking, career gaps
experiential: tenure, education, grades, training, language, past injuries, breadth of experience, mentoring, social ties, military
higher pay levels related to outcomes (lower turnover, etc.)
Compensation psychology
explores pay satisfaction, motivation, the meaning of money, reactions to compensation
pay satisfaction --> life satisfaction, gender, unionization, firm type, turnover intent, tenure, tier status, career stage
Organizational justice
equity (distributive justice), procedural justice, ethical questions
equity sensitivity, outcomes
procedural justice: pay secrecy, communication
firm outcomes of compensation
firm-level outcomes of pay, individual incentives, group incentive plans
organizational performance (negative w/ pay dispersion, moderated w/ individual incentives/interdependence)
more interactive
Benefits
firm objectives, cost, unionization, employee characteristics, wages, affect usage of benefits and plans
international compensation
comparative studies: compensation in US v other countries (usually)
greater complexity in other countries
executive compensation
pay levels, pay mix, pay outcomes
focus: CEO pay
Linkages!!
determinants & outcomes
psychology & org. justice