Lincoln Electric Company Case Study
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Compensation
"The authors artfully synthesize complex scholarly articles from economics, psychology, and sociology. The organization of the book is exceptionally transparent... Compensation should be accessible to a wide range of readers who appreciate a multidisciplinary perspective on organizational issues... I cannot emphasize enough how effectively Gerhart and Rynes discuss compensation thoughout this book. As an experienced academic researcher, I have already benefited tremendously from my first reading of the book . It is a must-read, and I recommend it without reservation to instructors, researchers, and students."--Industrial and Labor Relations Review"Gerhart and Rynes provide a thorough, comprehensive review of the vast literatures relevant to compensation. Their insights regarding the integration of economic, psychological, and management perspectives are particularly enlightening. This text provides an invaluable tool for those interested in advancing our understanding of compensation practices."--Alison Barber, Eli Broad College of Business, Michigan State UniversityCompensation: Theory, Evidence, and Strategic Implications provides a comprehensive, research-based review of both the determinants and effects of compensation. Combining theory and research from a variety of disciplines, authors Barry Gerhart and Sara L. Rynes examine the three major compensation decisions-pay level, pay structure, and pay delivery systems. Revealing the impact of different compensation policies, this interdisciplinary volume examines The relationship between performance-based pay and intrinsic motivation Implications of individual pay differentials for team or unit performance The consequences of pay for performance policies Effect sizes and practical significance of compensation findings Directions for future research Compensation: Theory, Evidence, and Strategic Implications considers why organizations pay people the way they do and how various pay strategies influence the success of organizations. Critically evaluating areas where research is inconsistent with common beliefs, Gerhart and Rynes explore the motivational effects of compensation. Primarily intended for graduate students in human resource management, psychology, and organizational behavior courses, this book is also an invaluable reference for compensation management consultants and organizational development specialists.
The Seven Fatal Management Sins
The Seven Fatal Management Sins is a candid, yet optimistic, assessment of the performance of today's managers. By looking at the responses of presidents and CEOs of Fortune 500 companies, directors of various corporate boards, business school deans, business school professors, union presidents, business news editors and other managers, this book identifies the seven fatal management sins and suggests bold new ways for managers to avoid them.
Spark
While factories across the Midwest shutter their doors, Cleveland-based manufacturer Lincoln Electric has thrived for more than a century. In addition to being profitable and technologically innovative, through good times and bad, the company has fulfilled its unique promise of “guaranteed continuous employment.” Workers are viewed as assets—not liabilities. Through flexible hours and job assignments, as well as a merit-based bonus system, Lincoln Electric's employment policies have proven healthy for the company's bottom line its employees and its shareholders. In Spark, veteran journalist Frank Koller tells the story of how this unusual and profitable Fortune 1000 multinational company challenges the conventional wisdom shaping modern management's view of the workplace. Through insightful storytelling and extensive interviews with executives, workers, and leading business thinkers, Koller uses the Lincoln Electric example to illustrate how job security can inspire powerful growth and prosperity in our communities.