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Personnel Economics for Managers / Edition 1

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"To be an effective manager, you need more than common sense and wisdom; you need a structured, rigorous framework for analyzing the issues you face. By applying a new approach called personnel economics, Personnel Economics in Practice, Second Edition presents the most rigorous analyses of traditional general management questions available. Its emphasis on practical application gives you the tools to analyze a variety of problems." Using many real-world and up-to-date examples, including some data from the authors' research, Personnel Economics in Practice, Second Edition puts at your fingertips a rich model of personnel and organizational design for growing a strong, innovative organization.
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Editorial Reviews

Such components of job satisfaction as status, pride, and pleasantness of work are analyzed in an economic framework. Issues discussed include recruitment and hiring, worker turnover, downsizing, motivating workers to maintain high levels of productivity, team production, the risks of firms' tendency to favor senior workers, worker evaluation, worker benefits, what degree of authority workers should be given, and task assignments. Annotation c. by Book News, Inc., Portland, Or.
Lazear (human resources and economics, Stanford) shows that economic analysis can be extended to personnel issues that arise in business on a daily basis. His focus is on compensation and its relation to worker motivation, selection, and teamwork but he also discusses job design, job evaluation, institutional arrangements, and directions for future research. Annotation c. Book News, Inc., Portland, OR (
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Product Details

  • ISBN-13: 9780471594666
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 9/28/1998
  • Edition description: Older Edition
  • Edition number: 1
  • Pages: 560
  • Product dimensions: 7.76 (w) x 9.61 (h) x 0.90 (d)

Meet the Author

Edward P. Lazear, senior fellow at the Hoover Institution of War, Revolution and Peace since 1985, is also the Jack Steele Parker Professor of Human Resources, Management and Economics at Stanford University's Graduate School of Business. Current and founding editor of the Journal of Labor Economics, and past president of the Society of Labor Economists, Professor Lazear is the visionary leader in the field of human resource management.

Michael Gibbs is Clinical Professor of Economics at the University of Chicago Graduate School of Business. Gibbs earned his PhD in Economics from the University of Chicago. He is a leading empirical researcher in the field of personnel economics, and has received awards for excellence in research and teaching.

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Table of Contents

Pt. 1 Sorting and investing in employees 1

Ch. 1 Setting hiring standards 3

Ch. 2 Recruitment 25

Ch. 3 Investment in skills 47

Ch. 4 Managing turnover 81

Pt. 2 Organizational and job design 107

Ch. 5 Decision making 109

Ch. 6 Organizational structure 143

Ch. 7 Job design 173

Ch. 8 Advanced job design 201

Pt. 3 Paying for performance 231

Ch. 9 Performance evaluation 237

Ch. 10 Rewarding performance 261

Ch. 11 Career-based incentives 293

Ch. 12 Options and executive pay 325

Pt. 4 Applications 347

Ch. 13 Benefits 349

Ch. 14 Entrepreneurship and intrapreneurship 375

Ch. 15 The employment relationship 397

Glossary 435

Index 445

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