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Title: Does Culture Pay? Compensating Differentials, Job Satisfaction, and Organizational Practices

Citation Type: Miscellaneous

Publication Year: 2017

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Abstract: Organizational practices are an increasingly important mechanism for retaining and motivating employees. Using a new survey tool in partnership with PayScale.com between 2014 and 2016, I first document the cross-section of job satisfaction and organizational practices in the labor market, and, secondly, recover a willingness to pay for these amenities. I show that these amenities create a time-varying, firm-specific rent that amplifies traditional selection problems. My identification strategy exploits employees' outside option, which is uncorrelated with contemporaneous organizational factors, but still capitalizes workplace amenities. Employees are willing to pay 2-3% of their earnings for a standard deviation rise in organizational practices.

Url: https://pdfs.semanticscholar.org/3a6f/d084a878d2ba4cb86d8d136121522008536b.pdf

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Authors: Makridis, Christos Andreas

Publisher: Stanford University

Data Collections: IPUMS Higher Ed

Topics: Labor Force and Occupational Structure, Other

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