Download or read book On the Role of Learning Human Capital and Performance Incentives for Wages written by Braz Camargo and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance pay in general amounts to only a small fraction of total pay. In this paper, we show that performance pay is nevertheless important for the level and dynamics of wages over the life cycle because of the incentives it indirectly provides for human capital acquisition and because of its impact on the variability of total pay. We articulate this argument in the context of a model that combines three key mechanisms for wage growth and dispersion: employer learning about workers' ability, human capital acquisition, and performance incentives. We use this model to account for the experience profile of wages, their dispersion, and their composition in terms of fixed and variable (performance) pay. The model admits an analytical decomposition of performance pay into four terms that capture (i) the trade-off between risk and incentives characteristic of settings of moral hazard; (ii) the insurance that firms provide against the wage risk due to the uncertainty about ability; (iii) incentives for effort arising from this uncertainty (career concerns); and (iv) incentives for effort generated by the prospect of human capital acquisition. We prove the model is identified under standard assumptions. Despite its parsimony, the model fits the data very well, including the empirical finding that performance pay as a share of total pay first increases and then decreases with experience. This feature of performance pay, which we are the first to document, runs contrary to the prediction of standard models of performance incentives that the ratio of performance pay to total pay increases with experience, especially at the end of the life cycle. Our estimates imply that effort to produce output augments human capital. Also, human capital acquisition and insurance against uncertainty about ability are quantitatively the main determinants of performance pay. Career-concerns incentives, on which the theoretical literature has focused, and the strength of the contemporaneous trade-off between risk and incentives--the primary determinant of variable pay in static moral-hazard models--are instead much less relevant. Importantly, we find that through the cumulative impact of effort on the job on human capital acquisition and the contribution of variable pay to the variance of total pay, performance incentives are a crucial source of wage growth and dispersion over the life cycle.
Download or read book On the Role of Learning Human Capital and Performance Incentive for Wages written by Braz Camargo and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aligning Incentives Information and Choice written by Wendy D. Lynch and published by Health as Human Capital Fou. This book was released on 2008 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why would someone intentionally gain forty pounds in four months? Why are over thirty percent of doctor visits for reasons that the American Medical Association recommends against? Why would the size of someone's bonus pay affect his or her interest in health? Incentives, that's why. Incentives are imbedded into the rules and structures of our social systems, businesses, communities, and healthcare programs. Similar to the force of gravity, incentives pull behaviors in a particular direction. Maybe you don't pay attention to incentives now-after reading this, we think you will.
Download or read book A Note on Incentive Wages with Human Capital Formation written by Joan Muysken and published by . This book was released on 1996 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Note on Incentive Wages with Human Capital Formation written by J. Muysken and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Promotion Incentives Performance Pay and Human Capital Acquisition written by Jan-Oliver Strych and published by . This book was released on 2015 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides empirical evidence how promotion incentives and performance pay are related to nonverifiable human capital acquisition contingent on its grade of firm specificity. Consistent with Prendergast (1993), I document that promotion incentives are positively related to nonverifiable firm-specific human capital acquisition whereas individual performance pay (i.e., piece rates or productivity payments) is not related to such acquisition. If human capital is general rather than firm-specific, i.e., can also be utilized in other firms (Becker, 1962), I find that individual performance pay is positively related to such general human capital acquisition and there is no such relation for promotion incentives.
Download or read book DATE as a Human Capital Strategy written by Michael Robert Volonnino and published by . This book was released on 2013 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance incentives in education has frequently been presented in purely rational choice economic terms, looking to see if the input of an incentive produced the desired output of student achievement. Such research has continually failed to produce significant effects. This dissertation attempts to recast incentives in terms of human capital theory and human behavioral economics, looking at the impact of social capital and support structures on teacher response to incentives. This study examines a major performance pay program in Texas using a concurrent-nested, mixed methods design. It finds that an external motivator like incentives is only effective in the presence of factors of internal motivation and that social capital positively affects the impact of a performance incentive.
Download or read book Studies in Human Capital written by Jacob Mincer and published by Edward Elgar Publishing. This book was released on 1993-01-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The books should. . . . be bought by every university library. The research reported here is important, the exposition is lucid, the sequencing of chapters is sensible and the retrospective aspect of the volumes provides a fascinating insight into the working methods of one of the great economists of our time.' - Geraint Johnes, International Journal of Manpower Studies in Human Capital, the first volume of Jacob Mincer's essays to be published in this series, assesses the impact of education and job training on wage growth. It offers an authoritative study of the effects of human capital investments on labor turnover and the impact of technological change on human capital formation.
Download or read book Personnel Literature written by and published by . This book was released on 1978 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Human Capital written by Joop Hartog and published by Cambridge University Press. This book was released on 2007-06-28 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time when governments and policy-makers put so much emphasis on 'the knowledge economy' and the economic value of education, human capital theory has never been more important. However, research in this area is often very technical and therefore not easily accessible to those who wish to use it as a guide to policy formation. This book provides an interface between such research and its potential applications in government, education and business. Reporting on a major research initiative, new findings are presented in a non-technical way on three major themes: measuring the benefits from human capital, applications of the human capital model, and policy interventions. Aimed at academic researchers and professionals concerned with the problems and techniques of human capital theory, it will also be useful for graduate courses on the economics of education to complement standard textbooks.
Download or read book Reward Management written by Geoff White and published by Routledge. This book was released on 2013-05-13 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thoroughly revised edition adopts a critical and theoretical perspective on remuneration policy and practices in the UK, from the decline of collective bargaining to the rise of more individualistic systems based on employee performance. It tackles the conceptual issues missing from existing texts in the field of HRM by critically examining the latest academic literature on the topic. Fully updated to cover the Chartered Institute of Personnel and Development's reward syllabus, and offering a less prescriptive alternative to current texts for HR practitioners and MBA students, this new edition includes: new chapters on executive reward, pensions and benefits clear routes to assist the student reader in the journey through this complex area a strong contextual framework to enable better understanding The second edition of Reward Management is an essential read for all those studying or with an interest in human resource management, performance management and reward.
Download or read book Armstrong s Handbook of Human Resource Management Practice written by Michael Armstrong and published by Kogan Page Publishers. This book was released on 2012-05-03 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: Armstrong's Handbook of Human Resource Management is the classic text for all students and practitioners of HRM. Providing a complete resource for understanding and implementing HR in relation to the needs of the business as a whole, it includes in-depth coverage of all the key areas essential to the HR function.The 12th edition has been radically updated to create a cutting-edge textbook, which encourages and facilitates effective learning. Comprehensive online support material is provided for the instructor, student and now also the practitioner, providing a complete resource for teaching and self-learning. The text has been updated to include all the latest developments in HRM and now includes two new sections covering HR skills and toolkits.
Download or read book Human Capital written by Gary Stanley Becker and published by . This book was released on 1964 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Labor Statistics Measurement Issues written by John Haltiwanger and published by University of Chicago Press. This book was released on 2007-12-01 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapidly changing technology, the globalization of markets, and the declining role of unions are just some of the factors that have led to dramatic changes in working conditions in the United States. Little attention has been paid to the difficult measurement problems underlying analysis of the labor market. Labor Statistics Measurement Issues helps to fill this gap by exploring key theoretical and practical issues in the measurement of employment, wages, and workplace practices. Some of the chapters in this volume explore the conceptual issues of what is needed, what is known, or what can be learned from existing data, and what needs have not been met by available data sources. Others make innovative uses of existing data to analyze these topics. Also included are papers examining how answers to important questions are affected by alternative measures used and how these can be reconciled. This important and useful book will find a large audience among labor economists and consumers of labor statistics.
Download or read book Strategic Management of Human Capital in Education written by Allan R. Odden and published by Routledge. This book was released on 2011-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strategic Management of Human Capital in Education offers a comprehensive and strategic approach to address what has become labeled as "talent and human capital." Grounded in extensive research and examples of leading edge districts, this book shows how the entire human resource system in schools—from recruitment, to selection/placement, induction, professional development, performance management and evaluation, compensation, and career progression—can be reformed and restructured to boost teacher and principal effectiveness in ways that dramatically improve instructional practice and student learning. Strategic Management of Human Capital in Education guides educators towards putting more effective teachers, teacher leaders, and principals in the country’s schools—especially in poverty-impacted urban and rural communities—equipping those teacher and principals with instructional and leadership expertise, and rewarding and retaining those who are successful in attaining these objectives. Drawing from cases, experiences, and deliberations from a national task force, this book outlines a comprehensive framework for how to transform current human resource management practices into authentic, strategic talent management systems in order to improve student achievement.
Download or read book People Performance Pay written by Thomas P. Flannery and published by Simon and Schuster. This book was released on 2002-01-15 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Performance Based Pay for Educators written by Jennifer King Rice and published by Teachers College Press. This book was released on 2017-02-10 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of a performance-based pay initiative and crystalizes the design issues and implementation challenges that confounded efforts to translate this promising policy into practice. This story has much to say to academics and policymakers who are trying to figure out the combinations of incentives and the full range of resources required to establish incentive programs that promote an adequate supply and equitable distribution of capable and committed educators for our public schools. The book uncovers the conditions that appear to be necessary, if not fully sufficient, for performance-based initiatives to have a chance to realize their ambitious aims and the research that is required to guide policy development. In so doing, the authors consider the thorny question of whether performance-based pay systems for educators are worth the investment. Book Features: Examines the use of educator compensation reform as a tool to improve human capital in chronically low-performing schools. Analyzes how a theoretically promising incentive program actually plays out in schools. Documents policy implementation and its impacts through the experiences and voices of teachers and school administrators. Concludes with clear and actionable recommendations for policy and research.
