Personnel Economics

2020/2021

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Management

Course type:

Elective course

When:

4 year, 3 module

Instructors

Artemova, Diana

Bordunos, Aleksandra

Course Syllabus

Abstract

The course is dealt with employment relationship mainly. Its content is based on E. P. Lazear’s theoretical concepts. The goal of this course is to provide students with deep understanding of a firm’s internal processes involving attracting, relocating and retaining of its workforce. In addition, a firm’s labor cost structure is examined.

Learning Objectives

• The goal of this course is to provide students with deep understanding of a firm’s internal processes involving attracting, relocating and retaining of its workforce. In addition, a firm’s labor cost structure is examined.Apart from the introduction, there are two parts in the course. The first one is devoted to the general issues, such as hiring, developing and motivating of employees, various compensation methods. In the second part some specific cases of working relationship are analyzed. There are no prerequisites to this course. Nevertheless, the basic knowledge of enterprise economy is needed.

Expected Learning Outcomes

• At the end of the course students must acquire skills of developing strategies with regard to employees’ compensation and motivation systems.

Course Contents

• Introduction: the essence of Personnel Economics Presenting a variety of the attitudes regarding personnel economics and human resource economics
  1.1 Terminology and theory evolution: Basic terms and abbreviations. Evolution of personnel's role. Human capital and human resource. HRM frameworks. 1.2 The Concept of Personnel Economics: Personnel economics focus. Personnel economics components according to Lazear.
• HR management strategies Hiring, relocating. Personnel evaluation and incentives. Internal labor market. Retention and displacement
  2.1 Personnel Economics and HR Management: Value triangle by J. Ingham. Integrated Talent Management Models. HR strategy developing. 2.2 Attract and Hire: Talent planning. Hiring funnel. HR brand and employer value preposition (EVP). Recruitment analytics. Employee Lifetime Value (ELTV). Talent acquisition analytics framework. 2.3 Deploying talents: Framework for Excellence in organization design. Types of organization structure. Working styles. Employer Brand Excellence FrameworkTM. Agile principles in HRM. Compensation and benefits. Talent Deployment analytics. Employee performance metrics. 2.4 Develop and retain talents: On-boarding issues. Employee development. Motivation. Motivators and hygiene factors by F. Herzberg. Self-Determination Theory (SDT). Employee engagement evaluation. Internal labor market.
• Specific issues of Personnel Economics Team compensation methods. Remote work compensation. Start-ups’ employment strategies.
  3.1 Team management: Belbin’s team roles. Team development process. Team performance metrics. 3.2 Remote work: Remote work issues. Remote work compensation.

Assessment Elements

• Team project presentation 1
• Team project presentation 2
• Case stydies discussions
• Mind mapping
• Test
  Test on-line

Interim Assessment

• Interim assessment (3 module)
  0.2 * Case stydies discussions + 0.15 * Mind mapping + 0.2 * Team project presentation 1 + 0.3 * Team project presentation 2 + 0.15 * Test

Bibliography

Recommended Core Bibliography

• Lazear, E. P. (1995). Personnel Economics. Cambridge, Mass: The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=nlebk&AN=1335
• Personnel economics for managers, Lazear, E. P., 1998

Recommended Additional Bibliography

• Card, D., & Ashenfelter, O. (2010). Handbook of Labor Economics. Amsterdam: North Holland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=355581
• Handbook of labor economics. Vol.4B: ., , 2011