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Recent Compensation Research: An Eclectic Review (Environmental…
Recent Compensation Research: An Eclectic Review
Environmental Determinants
Effects of legal environment, business, environment, and industry on compensation, little attention paid to total compensation, mostly atheoretical
Firm Determinants
Effects of firm practices, firm unionization, and other firm characteristics on compensation
Job and Group Determinants
How job factors, job changes, and group factors affect compensation, group factors receive little attention
Gender and Race Determinants
Analyzing gender wage gap and wage differentials by race, mostly ignores total compensation, almost all looks at wage gap
Individual Determinants of Compensation
Include behavioral, experiential, and individual characteristics, should explore interactions between factors
Individual Outcomes of Compensation
Research that looks at outcomes of pay level and incentive pay, should look at nature of pay mix, pay dispersions, and total compensation
Compensation Psychology
Exploring pay satisfaction, motivation, meaning of money, and psychological reactions to compensation, should look more at how extrinsic rewards affects intrinsic motivation
Organizational Justice
Research on equity, procedural justice, and ethical issues of compensation, should research pay communication and outcomes
Firm Outcomes of Compensation
Research on firm-level outcomes of pay, individual incentives, and group incentive plans, more needed on how pay interacts with other factors to affect performance
Benefits
Usage of benefits, benefit satisfaction, and outcomes of various benefit plans, little focus on benefit outcomes
International Compensation
Research comparing aspect of compensation among 2 or more countries and research investigating compensation plans of multinational enterprises, least researched of all categories
Executive Compensation
Analyzing determinants of executive pay levels, determinants of executive pay mix, and executive pay outcomes, almost always focused on CEO pay, usually relies on secondary data