Financialization and value: why labour and the labour process still matter

Despite expanding literatures on financialization, scholarship exploring its relationship to labourand the labour process remains under-developed. A further obstacle has arisen from argumentsthat novel financialized modes of value extraction render the labour process and labour processanalysis less relevant. This article challenges that view and explores how the labour process isstill a vital focal point for value creation and extraction. It sets out what scholars should ‘look for’to understand the ways in which distinctively financialized mechanisms operate in non-financialcorporations and how these dynamics are translated into outcomes for and through labour. Thearticle then provides four key propositions, drawing on labour process theory, which specify howthose mechanisms are operationalized and their consequences.Keywordsfinancialization

A schema theory perspective on the psychological contracting processes of interns over time

This study explores the evolving expectations of undergraduate interns from a psychological contract schema theory perspective over time. Psychological contracts have been conceptualised as a type of schema, which is a mental model or construct through which individuals filter and understand social life. Scholarly endeavours have focused heavily on the negative effects of mismanaged psychological contracts. Less insight is available on the process through which a psychological contract is constructed, formed, and becomes impactful over time. Researching this process is vital to understanding and managing the evolution of the employment relationship. Taking a process methodological approach, we interviewed 30 interns from an Irish university between three to five times each over a 12-15 month period. We also collected written reflective accounts once they returned to the final year of study. Our findings reveal the importance of antecedents, such as normative expectations and goals, and the anticipated psychological contract on the psychological contracting process. We provide an empirically informed process model of the psychological contracting process of undergraduate interns. Our model incorporates factors such as the antecedents influencing the construction of the psychological contract, the formation and development of employment schemata, affective events, the role of agency, and the influence of internships on learners who return to the final year of undergraduate studies. We contribute to scholarly work on schema theory, the psychological contract as a dynamic process, and undergraduate internships. This research is of importance to educators preparing learners for the working world, organizations employing interns or fresh graduates, and learners themselves

Financialization in the workplace: Hegemonic narratives, performative interventions and the angry knowledge worker

This paper uncovers how the pressures of financialization were passed from top management to employees and achieved performative hegemony in a subsidiary of a knowledge intensive, high technology, multinational corporation. Qualitative insights from subsidiary directors, management and knowledge workers are presented. The paper demonstrates that financialization is a performative phenomenon which elevates the role of accounting in organizations. It highlights how budgets can serve as a performative mechanism through which top management can narrate a desired reality and pass down a myriad of performative interventions to achieve this reality. The paper uncovers how financialization can cause insecurity, work intensification, suppression of voice and the enactment of falsely optimistic behaviours; all of which prompt distress and anger amongst knowledge workers. The paper also uncovers sources of counter performativity and resistance but demonstrates that employees ultimately participate in their subordination. Employees pursue financialized performative interventions as they interpret them as the primary method of securing their role in a pervasively insecure work environment

Shareholder capitalism, normative smokescreens and the angry, insecure knowledge worker

THESIS 8971This thesis is rooted within the discipline of industrial sociology. It makes connections between workplace structures and subjectivities within a contemporary, stock market listed, high technology and knowledge intensive organisation. This thesis arose from the largely incompatible conclusions offered in the literatures that claim to define the employment experience in such workplaces. This thesis is based on a six month, mixed methods, critical realist, ethnography. It was undertaken within an Irish based subsidiary of a multi-national corporation. I secured full-time access to this organisation from June 2007 to November 2007 inclusive. During this time I analysed a wide range of documentation, conducted seventy five interviews and attended twenty five meetings. Critical realism is particularly suitable for this study as it focuses on the interplay between structures and subjectivities. Critical realism is also suitable for ethnographic research as the realist ontology involves contextually situating micro-level occurrences within a broader plurality of structures. The primary focus of this thesis is to explore and connect the structures that shape a successful, market listed, knowledge intensive organisation. In doing so, this thesis demonstrates the value of undertaking a holistic analysis of the myriad of structures shaping the work environment. Within the case study organisation, subjective orientations were informed by both the content within structures and the contradictions between them. The secondary focus is to explore the connection between these structures and the subjective orientation of different groups of actors. In doing so this thesis demonstrates the continued analytical richness of actor categories such as ?capital?, ?management? and ?labour?. Within the case study organisation, these specific categories were well recognised by all level of stakeholders and had real implications

Branding Employees

Purpose – From the optimistic to the critical, the post-structural to the market rational there are varied perspectives on normative control at work. The purpose of this paper is to describe a tactical evolution in normative control practices and explore how this development sits with each perspective. Design/methodology/approach – The paper is based on a six month participant ethnography incorporating 75 interviews and document analysis. Data are presented from human resources, executives, managers and employees. Findings – This paper presents an account of a leading, listed, global firm’s attempt to align employees to the organisation’s goals through fashioning an ideal employee identity based on the organisation brand. Perspectives are provided on the desired role and ultimate failure of this employee branding initiative. Indeed, branding may be a normative step too far. The paper demonstrates how the workplace comprises of a variety of experiential forces and employees are capable of deciding which are the most substantive. However, the existence of varied perspectives on normative control within the workplace can account for both its failure and perpetuation. Research limitations/implications – The findings highlight the variety of forces that interact to shape perspectives of normative control within a workplace. Consequently, future research may benefit from adopting a more holistic analytical approach to avoid over or under estimating the role of normative control. Originality/value – The novelty of this paper comes firstly from the account of a tactical normative development and secondly from the demonstration of the value of considering the role and impact of normative control from a variety of theoretical perspective

Branding employees

Purpose – From the optimistic to the critical, the post-structural to the market rational there are varied perspectives on normative control at work. The purpose of this paper is to describe a tactical evolution in normative control practices and explore how this development sits with each perspective. Design/methodology/approach – The paper is based on a six month participant ethnography incorporating 75 interviews and document analysis. Data are presented from human resources, executives, managers and employees. Findings – This paper presents an account of a leading, listed, global firm's attempt to align employees to the organisation's goals through fashioning an ideal employee identity based on the organisation brand. Perspectives are provided on the desired role and ultimate failure of this employee branding initiative. Indeed, branding may be a normative step too far. The paper demonstrates how the workplace comprises of a variety of experiential forces and employees are capable of deciding which are the most substantive. However, the existence of varied perspectives on normative control within the workplace can account for both its failure and perpetuation. Research limitations/implications – The findings highlight the variety of forces that interact to shape perspectives of normative control within a workplace. Consequently, future research may benefit from adopting a more holistic analytical approach to avoid over or under estimating the role of normative control. Originality/value – The novelty of this paper comes firstly from the account of a tactical normative development and secondly from the demonstration of the value of considering the role and impact of normative control from a variety of theoretical perspectives.Branding, Control, Employee attitudes, Ireland, Organizational culture, Work identity, Workplace

Doing it by the textbook? financialization, HRM and the angry, insecure high performer

This paper looks at financialization, HRM and the angry, insecure high performe