Manufacturing Advantage

Manufacturing Advantage

Author: Eileen Appelbaum

Publisher: Cornell University Press

Published: 2000

Total Pages: 280

ISBN-13: 9780801486555

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Much of the hoopla surrounding quality circles, teams, and high-performance work systems has been based on anecdotes and very thin evidence. It has not been established that those employee involvement strategies amount to anything more than another series of management fads or ruses designed to get more out of workers without giving them anything in return. This revelatory book, written by some of the skeptics, lays some of the suspicion to rest. Based on their visits to 44 plants and surveys of more than 4,000 employees, Eileen Appelbaum, Thomas Bailey, Peter Berg, and Arne L. Kalleberg concluded that companies are indeed more successful when managers share knowledge and power with workers and when workers assume increased responsibility and discretion. The study of steel, apparel, and medical electronics and imaging plants revealed much. In self-directed teams, workers were able to eliminate bottlenecks and coordinate the work process. In task forces created to improve quality, they communicated with individuals outside their own work groups and were able to solve problems. Expensive equipment in steel mills operated with fewer interruptions, turnaround and labor costs were cut in apparel factories, and costly inventories of components and medical equipment were reduced. And what did the employees think? The worker survey showed that jobs in participatory work systems often provide more challenging tasks and more opportunities for creativity. Employees in apparel had higher hourly earnings; those in steel had both higher hourly earnings and higher job satisfaction. Workers in more participatory settings were no more likely than others to report heavy workloads or excessive demands on their time. They were, however, less likely to report involuntary overtime or conflict with co-workers, and were more likely to be satisfied with their surroundings. Manufacturing Advantage provides the best assessment available of the effectiveness of high-performance work systems. Freestanding chapters near the end of the book provide full documentation of research data without interrupting the narrative flow.


Pay Without Performance

Pay Without Performance

Author: Lucian A. Bebchuk

Publisher: Harvard University Press

Published: 2004

Total Pages: 308

ISBN-13: 9780674020634

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The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.


Handbook of Principles of Organizational Behavior

Handbook of Principles of Organizational Behavior

Author: Edwin Locke

Publisher: John Wiley & Sons

Published: 2011-07-15

Total Pages: 694

ISBN-13: 0470685336

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There is a strong movement today in management to encourage management practices based on research evidence. In the first volume of this handbook, I asked experts in 39 areas of management to identify a central principle that summarized and integrated the core findings from their specialty area and then to explain this principle and give real business examples of the principle in action. I asked them to write in non-technical terms, e.g., without a lot of statistics, and almost all did so. The previous handbook proved to be quite popular, so I was asked to edit a second edition. This new edition has been expanded to 33 topics, and there are some new authors for the previously included topics. The new edition also includes: updated case examples, updated references and practical exercises at the end of each chapter. It also includes a preface on evidence-based management. The principles for the first edition were intended to be relatively timeless, so it is no surprise that most of the principles are the same (though some chapter titles include more than one principle). This book could serve as a textbook in advanced undergraduate and in MBA courses. It could also be of use to practicing managers and not just those in Human Resource departments. Every practicing manager may not want to read the whole book, but I am willing to guarantee that every one will find at least one or more chapters that will be practically useful. In this time of economic crisis, the need for effective management practices is more acute than ever.


People, Performance, & Pay

People, Performance, & Pay

Author: Thomas P. Flannery

Publisher: Simon and Schuster

Published: 2002-01-15

Total Pages: 292

ISBN-13: 074323653X

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People, Performance, and Pay identifies today's four most common organizational work cultures - functional, process, time-based, and network - and explains how to align innovative pay policies with each. With examples from LEGO, Hallmark, Holiday Inn, and other leading organizations, the authors explain how to assess an organization's current culture and determine what its future culture should be. They then demonstrate pay's role in such change initiatives, and how compensation must be integrated with other human resource processes, such as selection, training, and performance management. They also discuss the full range of pay strategies available today and how they can be best used to move the organization forward; for example, they recommend decreasing an organization's emphasis on base pay as it shifts from a functional culture to a process, time-based, or network culture. They also offer guidance on establishing team rewards, especially important in process and team-based cultures, and make a compelling case for putting more pay at risk through variable pay strategies. Here also is strategic advice on competency-based pay, performance-based rewards such as gain-sharing, executive pay, and benefits programs. As responsibility for compensation strategies and compensation decisions shifts away from the realm of the Human Resource Department, line managers and senior executives will find People, Performance, and Pay an invaluable reference for effectively using salary, incentives, and benefits to motivate and reward employees, improve quality, and increase productivity.


Economic Ideas You Should Forget

Economic Ideas You Should Forget

Author: Bruno S. Frey

Publisher: Springer

Published: 2017-03-08

Total Pages: 168

ISBN-13: 3319474588

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Reporting on cutting-edge advances in economics, this book presents a selection of commentaries that reveal the weaknesses of several core economics concepts. Economics is a vigorous and progressive science, which does not lose its force when particular parts of its theory are empirically invalidated; instead, they contribute to the accumulation of knowledge. By discussing problematic theoretical assumptions and drawing on the latest empirical research, the authors question specific hypotheses and reject major economic ideas from the “Coase Theorem” to “Say’s Law” and “Bayesianism.” Many of these ideas remain prominent among politicians, economists and the general public. Yet, in the light of the financial crisis, they have lost both their relevance and supporting empirical evidence. This fascinating and thought-provoking collection of 71 short essays written by respected economists and social scientists from all over the world will appeal to anyone interested in scientific progress and the further development of economics.


High Performance with High Integrity

High Performance with High Integrity

Author: Benjamin W. Heineman

Publisher: Harvard Business Press

Published: 2008

Total Pages: 209

ISBN-13: 1422122956

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"This Memo to the CEO explains why the fusion of high performance with high integrity is the foundation of the contemporary corporation, and why it is necessary - not only to avoid the catastrophic impact of integrity lapses, but to sustain companies in today's ruthlessly competitive environment." "This Memo reframes crucial debates on corporate governance, pay for CEO performance, and the real sources of business ethics. It provides senior executives with a much-needed blueprint for fusing the twin goals of capitalism - high performance with high integrity - in the high-speed, high-pressure twenty-first-century global economy."--Jacket.


Pay for Results

Pay for Results

Author: Mercer, LLC

Publisher: John Wiley & Sons

Published: 2009-03-17

Total Pages: 288

ISBN-13: 047047811X

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The numerous incentive approaches and combinations and their implications can be dizzying even to the compensation professional. Pay for Results provides a road map for developing and implementing executive incentives that drive business needs and strategy. It is filled with specific analytic tools, including tables, exhibits, forms, checklists. In addition, it uncovers myths in performance measurement strategy and design. Timely and thorough, this book expertly shows businesses how to drive their specific needs and strategy. Human resources and compensation officers will discover how to apply performance metrics that align with shareholder investment.


Pay for Performance

Pay for Performance

Author: National Research Council

Publisher: National Academies Press

Published: 1991-02-01

Total Pages: 221

ISBN-13: 0309044278

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"Pay for performance" has become a buzzword for the 1990s, as U.S. organizations seek ways to boost employee productivity. The new emphasis on performance appraisal and merit pay calls for a thorough examination of their effectiveness. Pay for Performance is the best resource to date on the issues of whether these concepts work and how they can be applied most effectively in the workplace. This important book looks at performance appraisal and pay practices in the private sector and describes whetherâ€"and howâ€"private industry experience is relevant to federal pay reform. It focuses on the needs of the federal government, exploring how the federal pay system evolved; available evidence on federal employee attitudes toward their work, their pay, and their reputation with the public; and the complicating and pervasive factor of politics.


Designing an Effective Pay for Performance Compensation System

Designing an Effective Pay for Performance Compensation System

Author: Cynthia H. Ferentinos

Publisher:

Published: 2006-07

Total Pages: 51

ISBN-13: 9781422305881

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Federal Government agencies are moving to better align pay with performance & create organizational cultures that emphasize performance rather than tenure. However, agencies must invest time, money, & effort in the design of their pay for performance compensation systems in order to succeed. To help agencies understand the critical prerequisites to success & key decision points, a review was conducted of professional & academic writings on the topic of pay for performance. This user-friendly guide summarizes the research findings. Contents: a summary of pay for performance; benefits & risks associated with pay for performance; pay for performance decision points; conclusions & recommendations; & bibliography. Illustrations.