Chapter 0: What is Personnel Economics?
... and why is it Important?
... and why is it Important?
Good HR practices can raise both productivity and wages
Bloom, Nicholas, Scott W. Ohlmacher, Cristina J. Tello-Trillo, and Melanie Wallskog (2021) Pay, Productivity, and Management NBER working paper no. 29377.
This paper uses confidential U.S. Census matched employer-employee earnings data to show that firms’ management practices matter for both productivity and wages: Firms with more structured management practices, and more-productive firms pay their workers more at every level of the organization, and especially at higher levels.