Damian Grimshaw and Jill Rubery
The article is organized in three parts. In the first, it considers the development of personnel economics and argues that there are shortcomings that reflect the one-sided integration of economics into HRM. The second considers a selection of studies that provide a more integrated attempt to span the economics and HRM boundaries. The third, turns to the neglect of variations in national institutions and business systems in the analyses of HRM policies within organizations.
Zoe Adams and Simon Deakin
Mutuals and co-operatives have a distinct legal form which sets them apart from commercial companies. This chapter reviews the theoretical and empirical literature on the governance and performance effects of these differences, showing that it may be misleading to think of workers and customers as the owners of mutual enterprises, and that a more precise focus on the content of voice, income, and control rights in particular organizations is needed in order to assess the implications of different legal structures for economic performance. Empirical evidence suggests that, on average, worker and customer mutuals are more risk-averse and less profitable, but more sustainable, than commercial entities structured as companies limited by share capital. However, the mutual form does not guarantee that the firm is run in a more democratic and participative way. Mutualization, therefore, while useful in some contexts, should not be explored at the cost of wider corporate governance reforms.
The main purpose of this article is to show that these conclusions are not well supported by empirical studies, which leads the observer to approach these theories with caution. The article proposes some alternative explanations for households' behaviours. The first section deals with the basic LCH model; the second discusses households' intrinsic attitude toward risk; and the article concludes with a consideration of the difficulties in distinguishing these attitudes from the specific environment in which they are embedded. The last section examines the effect of so-called ‘background risks’.
David Knights and Maria Tullberg
While men and masculine discourses dominate management and organization, their conceptualization and interrogation are neglected even in critical studies of work and organization. Management is a scene for discourses of masculinity that prevent too many women invading the protected space where homosocial constructions and masculine performances reproduce power and privilege for men. It keeps the feminine at a safe distance so as to minimize the threat of the Other to masculine discourses and their performative outcomes, for the greatest fear is to fail to be a ‘real man’. The chapter illustrates this through an examination of the financial sector for the aggressively instrumental and competitive pursuit of the highest level of economic reward renders the discourses of masculinity more visible in this sector, and especially after the numerous scandals associated with and following from the global financial crisis of 2007–8. Transparency in this sector was thought likely to restrain the excessive salaries and bonuses but has had the opposite effect because high levels of pay are viewed as a sign of manliness.
This article proceeds in six steps. First, it discusses alternative models of the relationship between productivity, compensation, and age, focusing on the human-capital model and long-term incentive contracts. Second, the article considers workers' retirement behaviour in these models, as well as employers' interests in retirement and job tenure, and the role of pensions in influencing retirement and tenure. Third, because the alternative models of the relationship between productivity, compensation, and age have different implications for retirement and pensions, it presents evidence on the alternative models. Fourth, the article examines the role of public policy regarding age discrimination and mandatory retirement, which can influence the productivity–compensation–retirement nexus. Fifth, it summarizes changes in pensions in the United States. And sixth, the article considers the possible implications of the shifts in pensions in the United States in light of the role that pensions play in the links between productivity, compensation, and retirement.
This article first describes the nature of these public defined benefit (DB) pension schemes and how they operate. The second section focuses on the financing of these plans, which generally operate on a pay-as-you-go basis. The third section uses Germany and France as examples to explain how today's public pension schemes emerged in their current form. The fourth section explores the demographic, economic, and political risks faced by DB schemes. The fifth section discusses the fundamental ways that governments can respond to the challenges of financing DB pensions. The conclusion is that the options are limited and difficult.
Fang Lee Cooke
This chapter reviews the status quo of research on talent management in nations with emerging economies. It highlights a number of major challenges confronting these nations and some of the initiatives of the nation states to combat the bottleneck caused by talent shortages in their economic development. The chapter highlights the research conducted on various aspects of talent management, and it presents a set of research agendas for future studies. Further, it shows that research on talent management in emerging economies has largely focused on a small number of countries and multinational corporations. While there is a growing level of understanding of the effectiveness and types of talent-management activities in different national contexts and types of organizational settings, future research in this field would benefit from drawing on a broader set of disciplinary perspectives and using more robust research design and systematic analysis of practices, processes, and outcomes.