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The hold-up problem is a situation where two parties may be able to work most efficiently by cooperating but refrain from doing so because of concerns that they may give the other party increased bargaining power and thus reduce their own profits.
Commitment theories are rather based on creating conditions, under which the employee will feel compelled to work for an organization, whereas engagement theories aim to bring about a situation in which the employee by free choice has an intrinsic desire to work in the best interests of the organization. [26]
Organizational commitment predicts work variables such as turnover, organizational citizenship behavior, and job performance. Some of the factors such as role stress, empowerment, job insecurity and employability , and distribution of leadership have been shown to be connected to a worker's sense of organizational commitment.
An alternative motivation theory to Maslow's hierarchy of needs is the motivator-hygiene (Herzberg's) theory. While Maslow's hierarchy implies the addition or removal of the same need stimuli will enhance or detract from the employee's satisfaction, Herzberg's findings indicate that factors garnering job satisfaction are separate from factors leading to poor job satisfaction and employee turnover.
Escalation of commitment was first described by Barry M. Staw in his 1976 paper, "Knee deep in the big muddy: A study of escalating commitment to a chosen course of action". [2] Researchers, inspired by the work of Staw, conducted studies that tested factors, situations and causes of escalation of commitment.
Personnel economics has been defined as "the application of economic and mathematical approaches and econometric and statistical methods to traditional questions in human resources management". [1] It is an area of applied micro labor economics , but there are a few key distinctions.
Quality of working life (QWL) describes a person's broader employment-related experience.Various authors and researchers have proposed models of quality of working life – also referred to as quality of worklife – which include a wide range of factors, sometimes classified as "motivator factors" which if present can make the job experience a positive one, and "hygiene factors" which if ...
High-commitment management is a management style that aims to emphasize the personal responsibility, independence, and empowerment of employees at all levels of an organization, rather than focusing on higher-level authority figures. It aims to maintain high levels of commitment by preserving the initiative among management personnel. [1]