An optimal scheme is one that gives the employer the highest expected profit net of compensation paid, subject to the constraint that the employee must be given compensation package attractive enough to get him to accept the job. 1 – The optimal compensation scheme for the employee will typically involve him getting more compensation the […]

Agency theory, the principal – agent model, and the economic theory of incentives are three names for the same thing: a collection of models created by economists to answer this question. We discuss the basic model in this subsection and elaborations following that. The basic model begins with the supposition that the connection between time […]

The desirability of objective/formulaic evaluation measures versus subjective/impressionistic measures hinges largely on considerations of strategy, technology, and culture. But either of these alternatives involves a number of complex considerations when it comes time to devise and implement a particular scheme. Foremost among these complex considerations are perceptions of justice: An evaluation system that is purely […]

The point of comparative performance evaluation is simple: It permits the evaluator to control for the impact of unmeasured environmental variables on tangible measures of performance. For example, instead of worrying about the optimal measure or formulas for how well a division performed in absolute, one looks at how well it performed relative to other […]

There are no doubt some occasions in which employees will believe it is fair for a supervisor to hold a particular co-worker to a lower performance standard-for instance, a colleague whose entire family was just killed in a car crash, or who lost a finger, or who has a learning disability, or who is brand […]

The current economic morass will be discussed and analyzed for decades, and we may never have the real answer, but we know its effect. The current recession is actually the result of tremendous efforts by multiple governments, or we may have slid into a depression. The resulting unemployment situation is abysmal, but one area, sales […]

Employment agencies provide a value service for both companies and individuals seeking work. They can fill the niche of the middle man and bring together those who may otherwise have difficulty finding one another. When it comes to finding workers to fill vacant jobs, these firms make life a lot easier for everyone involved. Both […]

There is no underestimating the importance of trade show displays. Businesses today want to be able to make their products more available to consumers, and want to bring in bigger profits. Of course, times are a lot tighter now both for retailers and for consumers. The recent recession that has been keeping its iron grip […]

Many people begin their first steps in the world of work in what is known as the hospitality and service industry. This might include being kitchen helpers in the likes of restaurants, cafes and hotels. This is probably one of the most widespread kind of jobs out there, and a lot of people will try […]

There is a lot to discover about field medicine. It\’s a challenging and very rewarding profession. If you are considering a career change then it might benefit you to learn a little about EMS. The first ambulance services were run and operated by funeral homes. Surprisingly offering the highest level of prehospital care was not […]