Angelo Arvanitis, Jonathon Gregory and Richard Martin
This article presents a generalized approach to pricing risk in markets that are subject to information asymmetries. Asymmetric information can result in prohibitive trading costs…
Abstract
This article presents a generalized approach to pricing risk in markets that are subject to information asymmetries. Asymmetric information can result in prohibitive trading costs and prevent the otherwise mutually beneficial exchange of risk. When dealing with risks typically transferred outside the capital markets, the problem of asymmetric information is even more pronounced than with financial risks, even risks priced in less liquid financial markets. A product that immunizes a client against a certain business or insurance event represents a challenge for pricing, as the client has superior information about the risks faced. The authors propose that in an incomplete market, the efficient solution is a dual‐triggered, contingent contract based on “indifference pricing” (i.e. reservation price) of residual variance.
Allison S. Gabriel, David F. Arena, Charles Calderwood, Joanna Tochman Campbell, Nitya Chawla, Emily S. Corwin, Maira E. Ezerins, Kristen P. Jones, Anthony C. Klotz, Jeffrey D. Larson, Angelica Leigh, Rebecca L. MacGowan, Christina M. Moran, Devalina Nag, Kristie M. Rogers, Christopher C. Rosen, Katina B. Sawyer, Kristen M. Shockley, Lauren S. Simon and Kate P. Zipay
Organizational researchers studying well-being – as well as organizations themselves – often place much of the burden on employees to manage and preserve their own well-being…
Abstract
Organizational researchers studying well-being – as well as organizations themselves – often place much of the burden on employees to manage and preserve their own well-being. Missing from this discussion is how – from a human resources management (HRM) perspective – organizations and managers can directly and positively shape the well-being of their employees. The authors use this review to paint a picture of what organizations could be like if they valued people holistically and embraced the full experience of employees’ lives to promote well-being at work. In so doing, the authors tackle five challenges that managers may have to help their employees navigate, but to date have received more limited empirical and theoretical attention from an HRM perspective: (1) recovery at work; (2) women’s health; (3) concealable stigmas; (4) caregiving; and (5) coping with socio-environmental jolts. In each section, the authors highlight how past research has treated managerial or organizational support on these topics, and pave the way for where research needs to advance from an HRM perspective. The authors conclude with ideas for tackling these issues methodologically and analytically, highlighting ways to recruit and support more vulnerable samples that are encapsulated within these topics, as well as analytic approaches to study employee experiences more holistically. In sum, this review represents a call for organizations to now – more than ever – build thriving organizations.
Details
Keywords
Kristine M. Kuhn, Jeroen Meijerink and Anne Keegan
This work examines the intersection between traditional human resource management and the novel employment arrangements of the expanding gig economy. While there is a substantial…
Abstract
This work examines the intersection between traditional human resource management and the novel employment arrangements of the expanding gig economy. While there is a substantial multidisciplinary literature on the digital platform labor phenomenon, it has been largely centered on the experiences of gig workers. As digital labor platforms continue to grow and specialize, more managers, executives, and human resource practitioners will need to make decisions about whether and how to utilize gig workers. Here the authors explore and interrogate the unique features of human resource management (HRM) activities in the context of digital labor platforms. The authors discuss challenges and opportunities regarding (1) HRM in organizations that outsource labor needs to external labor platforms, (2) HRM functions within digital labor platform firms, and (3) HRM policies and practices for organizations that develop their own spin-off digital labor platform. To foster a more nuanced understanding of work in the gig economy, the authors identify common themes across these contexts, highlight knowledge gaps, offer recommendations for future research, and outline pathways for collecting empirical data on HRM in the gig economy.
Details
Keywords
Alexander Challinor and Jonathon Whyler
The purpose of this paper is to review and critically evaluate UK psychiatry national recruitment process for 2021, which was re-structured following the COVID-19 pandemic…
Abstract
Purpose
The purpose of this paper is to review and critically evaluate UK psychiatry national recruitment process for 2021, which was re-structured following the COVID-19 pandemic. Additionally, this paper aims to review the empirical evidence of the selection methodologies in psychiatry recruitment.
Design/methodology/approach
The UK national psychiatry recruitment process is discussed, with a focus on the changes made to recruitment in 2021. The advantages and disadvantages of different selection methodologies are explored, with an emphasis on evaluating the validity, acceptability and reliability of different recruitment selection methodologies. The potential impact of the changes to psychiatry recruitment are explored.
Findings
The decision of the National Recruitment Office to remove certain selection methods for recruitment in 2021 may have limited their ability to choose the best candidate for the training place and be fair to the applicant. Overall, there is a lack of research into the validity of the selection methods used in psychiatry recruitment. A framework for outcome criteria relevant to psychiatry recruitment should be developed, which would allow research into selection methods and guide the NRO to examine the evidence base effectively.
Originality/value
This paper examined the recruitment methods used to choose doctors for psychiatry training in the UK, demonstrating that the empirical evidence base for psychiatry recruitment is limited. This paper can contribute to our understanding of selection methodologies used in psychiatry recruitment and highlights the value of different recruitment approaches for choosing the best psychiatrists of the future.
Details
Keywords
Constructive deviance has received increasing attention across the last 20 years. However, because the distinction between constructive and traditional forms of deviance (i.e.…
Abstract
Constructive deviance has received increasing attention across the last 20 years. However, because the distinction between constructive and traditional forms of deviance (i.e., destructive) is based on the intent behind the behaviors, it can be difficult to determine which acts are constructive. As an umbrella construct consisting of several forms of deviant acts (e.g., whistle-blowing, employee voice, necessary evils), research into constructive deviance has largely remained focused on the individual behaviors to date. While advancements have been made, this focus has limited the consideration of an overarching understanding of constructive deviance in the workplace. Further, constructs like constructive deviance that straddle the bounds between beneficial and detrimental necessitate the exploration into their antecedents as determined by the employees (i.e., apples), their environments (e.g., barrels), or some combination of the two. The author seeks to advance the research in constructive deviance by proposing a testable model. In which, the author develops an interactionist perspective of the antecedents to reposition constructive deviance as the acts of good employees in restrictive or negative environments. In doing so, the author considers how various aspects of individuals, their organizational environments, and the influence of their leaders interact. The author then develops a multi-stakeholder approach to the outcomes of constructive deviance to consider how the various parties (i.e., organization, coworkers, customers) are expected to respond and how these responses impact the more distal outcomes as well as the likelihood of engaging in future constructive deviance.