54 research outputs found

    Pay Enough, Don't Pay Too Much or Don't Pay at All? The Impact of Bonus Intensity on Job Satisfaction

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    Using ten waves (1998-2007) of the British Household Panel Survey (BHPS), this paper investigates the ceteris paribus association between the intensity of incentive pay, the dynamic change in bonus status and the utility derived from work. After controlling for individual heterogeneity biases, it is shown that job utility rises only in response to 'generous' bonus payments, primarily in skilled, non-unionized, private sector jobs. Revoking a bonus from one year to the next is found to have a detrimental impact on employee utility, while job satisfaction tends to diminish over time as employees potentially adapt to bonuses. The findings are therefore consistent with previous experimental evidence, suggesting that employers wishing to motivate their staff should indeed "pay enough or don't pay at all".job satisfaction, performance pay, bonus, intensity, incentives

    An Inquiry into the Theory, Causes and Consequences of Monitoring Indicators of Health and Safety at Work

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    This paper engages in an interdisciplinary survey of the current state of knowledge related to the theory, determinants and consequences of occupational safety and health (OSH). First, it synthesizes the available theoretical frameworks used by economists and psychologists to understand the issues related to the optimal provision of OSH in the labour market. Second, it reviews the academic literature investigating the correlates of a comprehensive set of OSH indicators, which portray the state of OSH infrastructure (social security expenditure, prevention, regulations), inputs (chemical and physical agents, ergonomics, working time, violence) and outcomes (injuries, illnesses, absenteeism, job satisfaction) within workplaces. Third, it explores the implications of the lack of OSH in terms of the economic and social costs that are entailed. Finally, the survey identifies areas of future research interests and suggests priorities for policy initiatives that can improve the health and safety of workers.health, safety, indicators, accidents, diseases, absenteeism

    An inquiry into the theory, causes and consequences of monitoring indicators of health and safety at work

    Get PDF
    This paper engages in an interdisciplinary survey of the current state of knowledge related to the theory, determinants and consequences of occupational safety and health (OSH). First, it synthesizes the available theoretical frameworks used by economists and psychologists to understand the issues related to the optimal provision of OSH in the labour market. Second, it reviews the academic literature investigating the correlates of a comprehensive set of OSH indicators, which portray the state of OSH infrastructure (social security expenditure, prevention, regulations), inputs (chemical and physical agents, ergonomics, working time, violence) and outcomes (injuries, illnesses, absenteeism, job satisfaction) within workplaces. Third, it explores the implications of the lack of OSH in terms of the economic and social costs that are entailed. Finally, the survey identifies areas of future research interests and suggests priorities for policy initiatives that can improve the health and safety of workers

    Rewarding Carrots & Crippling Sticks: Eliciting Employee Preferences for the Optimal Incentive Mix in Europe

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    A ranking of a variety of incentive devices used by firms according to their perceived effectiveness by employees is identified. The determinants of employee incentive preferences are also investigated, suggesting a ‘menu’ of conditions under which an organization’s personnel policies will have maximum motivational impact on its workforce. Based on the beliefs of a unique sample of workers from seven European countries, the results suggest that (a) the primary determinant of the level of employee effort is the amount of discretion offered at work; (b) pay incentives and ‘gift exchanges’ are the most important motivators; (c) the use of monitoring and Taylor-type assembly lines are the least effective incentives; and (d) the optimal design of incentive strategies by firms is strongly shaped by a host of contextual factors. The expressed desire for autonomy, and distaste for control, by employees gives credibility to the “participative” management approach.Incentives, effectiveness, effort, attitudes, employees

    The Gender Wage Gap as a Function of Educational Degree Choices in an Occupationally Segregated EU Country

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    This study investigates the extent to which differences in the subject of degree studied by male and female university graduates contributes to the gender pay gap, and the reasons underlying their distinct educational choices. The case of Greece is examined due to the fact that it is an EU country with historically large gender discrepancies in earnings and occupational segregation. Using micro-data from the Greek Labour Force Survey (LFS), the returns to academic disciplines are firstly estimated by gender. It is found that the subjects in which women are relatively over-represented (e.g. Education, Humanities) are also those with the lowest wage returns. Oaxaca-Blinder decompositions subsequently imply that gender differences in the type of degree studied can explain an additional 8.4% of the male-female pay gap. Risk-augmented earnings functions of the Hartog-type also indicate that women seek for less risky educations that consequently command lower wage premiums in the job market.gender wage gap, subject of degree, returns, risk, Greece

    Socio-economic differences in the job satisfaction of high-paid and low-paid workers in Greece

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    Using data from eight waves (1994-2001) of the European Community Household Panel (ECHP), this study examines whether significant differences exist in the perceived quality of high and low-paid jobs in Greece. After correcting for the potential selectivity problem that is prevalent in the study of the effect of low pay status on job satisfaction, evidence is presented that low wage workers are significantly less satisfied with their jobs compared to their higher-paid counterparts. Further analysis of the specific facets of jobs reveals that the lower average satisfaction of low-paid employees in Greece arises not only due to their lesser pay, but mainly because of the inferior type of work that they perform. Low-paid workers in Greece therefore seem to suffer from a double penalty, as their jobs are also of bad quality. In view of this segmentation, combined with the fact that Greece remains a low wage economy, it becomes evident that policies that centre on the quality of jobs are of equal importance to those that focus on the level of pay that they provide.job satisfaction, low-paid versus high-paid jobs, Greek labour market

    Socio-Economic Differences in the Satisfaction of High-Pay and Low-Pay Jobs in Europe

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    This paper investigates whether any significant differences in the job satisfaction of high- and low-paid workers exist in eleven European labour markets. Using data from six waves (1996-2001) of the ECHP, it is shown that low-paid employees are significantly less satisfied with their jobs compared to the high-paid in the periphery of Southern European countries, as opposed to those in the North. This evidence suggests that in the face of an increasing flexibility in labour markets, low-paid jobs in the EU are not inevitably of low quality, though in some countries low-wage workers have experienced the full brunt of both lower-paid and bad quality jobs. For these countries policies that centre on the quality of work are essential. Evidence indicates that the cross-country differences reflect the disparate manner with which the flexibility-security nexus has been confronted.job satisfaction, low pay, job quality, Europe, flexicurity

    The Inter-Related Dynamics of Dual Job Holding, Human Capital and Occupational Choice

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    The inter-related dynamics of dual job-holding, human capital and occupational choice between primary and secondary jobs are investigated, using a panel sample (1991-2005) of UK employees from the British Household Panel Survey (BHPS). A sequential profile of the working lives of employees is examined, investigating, first, the determinants of multiple job-holding, second, the factors affecting the occupational choice of a secondary job, third, the relationship between multiple-job holding and job mobility and, lastly, the spillover effects of multiple job-holding on occupational mobility between primary jobs. The evidence indicates that dual job-holding may facilitate job transition, as it may act as a stepping-stone towards new primary jobs, particularly self-employment.Moonlighting, Occupational Choice, Human Capital, Mobility
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