Personnel Economics in Practice

ISBN-13: 9781119427360 / Angielski / Miękka / 2017 / 416 str.

Michael (University of Chicago) Gibbs

Spis treści

ABOUT THE AUTHORSPREFACEACKNOWLEDGMENTSPART ONE SORTING AND INVESTING IN EMPLOYEESCHAPTER 1 SETTING HIRING STANDARDSAn Example: Hiring Risky WorkersNew Hires as OptionsAnalysisA CounterargumentSetting Hiring StandardsBalancing Benefits Against CostsForeign CompetitionThe Method of ProductionHow Many Workers to Hire?Other FactorsMaking Decisions with Imperfect InformationMake a Decision Independent of AnalysisEstimate the Relevant InformationExperimentSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 2 RECRUITMENTIntroductionScreening Job ApplicantsCredentialsLearning a Worker's ProductivityIs Screening Profitable? For Whom?ProbationSignalingWho Pays, and Who Benefits?ExamplesSignaling More Formally: Separating and Pooling EquilibriaWhich Type of Firm is More Likely to use Signaling?SummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 3 INVESTMENT IN SKILLSIntroductionMatchingInvestments in EducationEffects of Costs and BenefitsWas Benjamin Franklin Correct?Investments in On the Job TrainingGeneral vs. Firm-Specific Human CapitalWho Should Pay for Training?Implications of On the Job TrainingRent Sharing and CompensationImplicit ContractingSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 4 MANAGING TURNOVERIntroductionIs Turnover Good or Bad?Importance of SortingTechnical ChangeOrganizational ChangeHierarchical StructureSpecific Human CapitalRetention StrategiesReducing Costs of Losing Key EmployeesEmbracing TurnoverBidding for EmployeesRaiding Other Firms: Benefits and PitfallsOffer MatchingLayoffs and BuyoutsWho to Target for LayoffsBuyoutsSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)PART TWO ORGANIZATIONAL AND JOB DESIGNCHAPTER 5 DECISION MAKINGIntroductionThe Organization of an EconomyMarkets as Information SystemsMarkets as Incentive SystemsMarkets and InnovationBenefits of Central PlanningThe Market as Metaphor for Organizational DesignBenefits of CentralizationEconomies of Scale or Public GoodsBetter Use of Central KnowledgeCoordinationBenefits of DecentralizationSpecific vs. General KnowledgeOther Benefits of DecentralizationAuthority and ResponsibilityDecision Making as a Multistage ProcessFlat vs. Hierarchical StructuresInvesting in Better Quality Decision MakingSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 6 ORGANIZATIONAL STRUCTUREIntroductionTypes of Organizational StructuresHierarchyFunctional StructureDivisional StructureMatrix or Project StructureNetwork StructureWhich Structure Should a Firm Use?CoordinationTwo Types of Coordination ProblemsCoordination MechanismsImplementationSpan of Control and Number of Levels in a HierarchySkills, Pay, and StructureEvolution of a Firm's StructureSummaryStudy QuestionsReferencesFurther ReadingCHAPTER 7 JOB DESIGNIntroductionPatterns of Job DesignOptimal Job Design: Skills, Tasks, and DecisionsMultiskilling and MultitaskingDecisionsComplementarity and Job DesignWhen to Use Different Job DesignsTaylorismFactors Pushing Toward Taylorism or Continuous ImprovementIntrinsic MotivationSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 8 ADVANCED JOB DESIGNIntroductionTeamsGroup Decision MakingFree Rider EffectsWhen to Use TeamsOther Benefits of Team ProductionImplementation of TeamsTeam CompositionWorker-Owned FirmsEffects of Information TechnologyEffects on Organizational StructureEffects on Job DesignHigh Reliability OrganizationsSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)PART THREE PAYING FOR PERFORMANCECHAPTER 9 PERFORMANCE EVALUATIONIntroductionPurposes of Performance EvaluationWays to Evaluate PerformanceQuantitative Performance MeasurementRisk ProfileRisk vs. Distortion: Performance Measure ScopeMatch of the Performance Measure to Job DesignManipulationSubjective EvaluationWhy Use Subjective Evaluations?The Benefits of Subjective EvaluationsPractical ConsiderationsSummaryStudy QuestionsReferencesFurther ReadingCHAPTER 10 REWARDING PERFORMANCEIntroductionHow Strong Should Incentives Be?IntuitionImperfect Evaluations and Optimal IncentivesSummary: How Strong Should Incentives Be?Paying for Performance: Common ExamplesRewards or Penalties?Lump Sums, Demotions, or PromotionsCaps on RewardsApplicationsProfit Sharing and ESOPsOrganizational Form and ContractingMotivating CreativitySummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 11 CAREER-BASED INCENTIVESIntroductionPromotions and IncentivesShould Promotions be Used as an Incentive System?Promotion Rule: Tournament or Standard?How Do Promotions Generate Incentives?Advanced IssuesTurnoverEvidenceCareer ConcernsSeniority Pay and IncentivesPractical ConsiderationsSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 12 OPTIONS AND EXECUTIVE PAYIntroductionEmployee Stock OptionsStock Options-A Brief OverviewShould Firms Grant Employees Options?Options as Incentive PayExecutive PayWhat is the Most Important Question?Executive Pay for PerformanceOther Incentives & ControlsDo Executive Incentives Matter?SummaryEmployee Stock OptionsExecutive PayStudy QuestionsReferencesFurther ReadingAppendix (available online)PART FOUR APPLICATIONSCHAPTER 13 BENEFITSIntroductionWages vs. BenefitsWhy Offer Benefits?Cost AdvantageValue AdvantageGovernment MandateImplementation of BenefitsImproving Employee SortingCafeteria PlansPensionsPaid Time OffSummaryStudy QuestionsReferencesFurther ReadingCHAPTER 14 ENTREPRENEURSHIP AND INTRAPRENEURSHIPIntroductionEntrepreneurshipThe Choice to become an EntrepreneurIntrapreneurshipInternal MarketsCreativity vs. ControlSpeed of Decision MakingReducing BureaucracyContinuous ImprovementSummaryStudy QuestionsReferencesFurther ReadingAppendix (available online)CHAPTER 15 THE EMPLOYMENT RELATIONSHIPIntroductionEmployment as an Economic TransactionPerfect CompetitionImperfect CompetitionComplex ContractingSummaryCommunication between Management and WorkersCommunication from Management to WorkersCommunication from Workers to ManagementThe Decision to Empower WorkersImproving CooperationFrom the Prisoner's Dilemma to EmploymentReputation and the Employment RelationshipInvesting in ReputationSummaryPersonnel Economics in PracticeStudy QuestionsReferencesFurther ReadingAppendix (available online)GLOSSARYINDEX