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A Theory of Employment SystemsMicro-Foundations of Societal Diversity$
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David Marsden

Print publication date: 1999

Print ISBN-13: 9780198294221

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198294220.001.0001

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Pay and Incentives

Pay and Incentives

(p.177) Chapter 7 Pay and Incentives
A Theory of Employment Systems

David Marsden (Contributor Webpage)

Oxford University Press

Following the logic of the employment relationship, workers are paid for making their labour available to the employer as much as for the amount of effort expended. Hence, the ‘price of labour’ is better understood as a rule rather than a particular sum of money, part of the obligations exchanged by firms and workers. This is reflected in the complexity of most reward systems, as in the measurement of labour cost. Different types of reward systems and pay hierarchies are then related to the four types of employment systems with different ways of linking pay to performance and a contrast between ‘hierarchical’ and ‘occupational’ reward structures.

Keywords:   employment relationship, employment system, incentives, labour cost, obligations, pay hierarchies, reward structures

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