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Publications

Publications

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      • Faculty Publications  (177)

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      • 2017
      • Working Paper

      Does Financial Misconduct Affect the Future Compensation of Alumni Managers?

      By: Boris Groysberg, Eric Lin and Georgios Serafeim
      We explore how an organization’s financial misconduct may affect pay for former employees not implicated in wrongdoing. Drawing on stigma theory we hypothesize that although such alumni did not participate in the financial misconduct and they had left the organization... View Details
      Keywords: Corporate Misconduct; Restatements; Stigma; Financial Misconduct; Compensation and Benefits; Crime and Corruption; Employees
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      Groysberg, Boris, Eric Lin, and Georgios Serafeim. "Does Financial Misconduct Affect the Future Compensation of Alumni Managers?" Working Paper, November 2017.
      • August 2021
      • Case

      Zoom Video Communications: Building a Culture of Diversity, Equity, & Inclusion During COVID-19

      By: Karen G. Mills, Scott Duke Kominers, Christopher Stanton, Andy Wu, George Gonzalez and Gabriella Elanbeck
      Keywords: Diversity Management; Diversity Training; Cultural Change; Cultural Diversity; Inclusion; Inclusive Growth; Inclusive Hiring; Hiring; Hiring Of Employees; Recruiting; Performance Management; Change Leadership; Race And Ethnicity; Racial Bias; Racial Disparity; Racial Injustice; Racial Tensions; Racism; Organization; Organization Process; Organization Structure; Structural/institutional Racism; Leadership And Change Management; Leadership And Managing People; Leading; Gender Bias; Discrimination; Inequalities; Inequality; Social Change; Employee Attitude Development And Empowerment; Employee Bonding; Employee Empowerment; Employee Engagement; Employee Fairness; Employee Morale; Employee Performance Management; Employee Relations; Company Culture; Company Values; Values; COVID-19 Pandemic; Demographics; Diversity; Age; Ethnicity; Gender; Business Processes; Change Management; Change; Race; Human Capital; Human Resources; Compensation and Benefits; Employees; Employee Relationship Management; Recruitment; Retention; Selection and Staffing; Jobs and Positions; Job Interviews; Leadership; Leading Change; Management; Management Teams; Business or Company Management; Crisis Management; Goals and Objectives; Growth and Development; Growth and Development Strategy; Growth Management; Management Style; Organizational Change and Adaptation; Organizational Culture; Organizational Design; Organizational Structure; Organizations; Mission and Purpose; Culture; Happiness; Prejudice and Bias; Satisfaction; Equity; Identity; Leadership Style; Values and Beliefs; Technology Industry; United States
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      Mills, Karen G., Scott Duke Kominers, Christopher Stanton, Andy Wu, George Gonzalez, and Gabriella Elanbeck. "Zoom Video Communications: Building a Culture of Diversity, Equity, & Inclusion During COVID-19." Harvard Business School Case 322-031, August 2021.
      • May–June 2021
      • Article

      Eliminate Strategic Overload

      By: Felix Oberholzer-Gee
      As companies respond to intensifying competitive pressures and challenges, they ask more and more of their employees. But organizations often have very little to show for the efforts of their talented and engaged workers. By selecting fewer initiatives with greater... View Details
      Keywords: Strategic Initiatives; Value-based Strategy; Organizational Effectiveness; Strategy; Value Creation
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      Oberholzer-Gee, Felix. "Eliminate Strategic Overload." Harvard Business Review 99, no. 3 (May–June 2021): 88–97.
      • April 2021
      • Case

      Zeynep Ton: The Good Jobs Strategy

      By: Francesca Gino and Frances X. Frei
      The link to this multimedia case should be provided to students in advance as preparation for classroom case discussion.

      In Zeynop Ton’s 2014 book The Good Jobs Strategy: How the Smartest Companies Invest in Employees to Lower Costs and Boost... View Details
      Keywords: Organizations; Selection and Staffing; Compensation and Benefits; Operations; Performance Effectiveness
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      Gino, Francesca, and Frances X. Frei. "Zeynep Ton: The Good Jobs Strategy." Harvard Business School Multimedia/Video Case 921-703, April 2021.
      • 2021
      • Working Paper

      Measuring Employment Impact: Applications and Cases

      By: Katie Panella and George Serafeim
      Applying the Impact-Weighted Accounts Initiative’s employment impact methodology on eight leading companies, we document wide variability in employment impacts as a percentage of salaries paid, ranging between 59 and 80 percent. We identify opportunities for... View Details
      Keywords: Impact Measurement; Employee Compensation; Accounting; Employees; Labor; Well-being; Diversity; Wages; Compensation and Benefits
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      Panella, Katie, and George Serafeim. "Measuring Employment Impact: Applications and Cases." Harvard Business School Working Paper, No. 21-082, January 2021. (Revised August 2021.)
      • January 2021
      • Case

      Value-Based Insurance Design at Onex

      By: Joshua Schwartzstein, Amitabh Chandra and Amram Migdal
      The operating executives of Health and Benefits for Onex Partners, Megan Jackson Frye and Sam Camens, faced a challenge: Healthcare costs for employees of Onex’s portfolio companies were continuing to rise above the consumer price index, reflecting broader trends... View Details
      Keywords: Decision Making; Cost vs Benefits; Decision Choices and Conditions; Decisions; Finance; Behavioral Finance; Insurance; Health; Health Care and Treatment; Human Resources; Compensation and Benefits; Markets; Demand and Consumers; Consumer Behavior; Social Psychology; Behavior; Interests; Motivation and Incentives; Perception; Health Industry; Insurance Industry; North America; United States
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      Schwartzstein, Joshua, Amitabh Chandra, and Amram Migdal. "Value-Based Insurance Design at Onex." Harvard Business School Case 921-023, January 2021.
      • January 2021 (Revised March 2022)
      • Teaching Note

      The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (A) and (B)

      By: Ashley V. Whillans
      This case describes the experiences of Michael Sanders—the Chief Executive of the What Works Center for Children’s Social Care—as he led the design and implementation of a program of research aimed at improving the social care system in the United Kingdom (UK) at the... View Details
      Keywords: Non-cash Compensation; Behavioral Science; Employees; Well-being; Compensation and Benefits; United Kingdom
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      Whillans, Ashley V. "The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (A) and (B)." Harvard Business School Teaching Note 921-021, January 2021. (Revised March 2022.)
      • November 2020 (Revised March 2022)
      • Teaching Note

      Social Salary Setting at Spiber

      By: Ashley Whillans and John Beshears
      Teaching Note for HBS Case No. 920-050. The case tells the story of Spiber, a Japanese technology start-up company. To reflect the company’s values, the leadership team implemented a new and unique salary-setting process: each employee had the authority to choose their... View Details
      Keywords: Compensation; General Management; Employee Benefits; Incentives; Motivation; Compensation and Benefits; Fairness; Motivation and Incentives; Management; Happiness; Negotiation; Cross-Cultural and Cross-Border Issues; Japan
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      Whillans, Ashley, and John Beshears. "Social Salary Setting at Spiber." Harvard Business School Teaching Note 921-014, November 2020. (Revised March 2022.)
      • October 2020 (Revised March 2022)
      • Case

      The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (A)

      By: Ashley V. Whillans and Shibeal O'Flaherty
      This case describes the experiences of Michael Sanders—the Chief Executive of the What Works Center for Children’s Social Care—as he led the design and implementation of a program of research aimed at improving the social care system in the United Kingdom (UK) at the... View Details
      Keywords: Non-cash Compensation; Behavioral Science; Employees; Welfare; Compensation and Benefits; Well-being; United Kingdom
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      Whillans, Ashley V., and Shibeal O'Flaherty. "The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (A)." Harvard Business School Case 921-020, October 2020. (Revised March 2022.)
      • October 2020 (Revised March 2022)
      • Supplement

      The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (B)

      By: Ashley V. Whillans and Shibeal O'Flaherty
      This case describes the experiences of Michael Sanders—the Chief Executive of the What Works Center for Children’s Social Care—as he led the design and implementation of a program of research aimed at improving the social care system in the United Kingdom (UK) at the... View Details
      Keywords: Non-cash Compensation; Behavioral Science; Employees; Well-being; Compensation and Benefits; United Kingdom
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      Whillans, Ashley V., and Shibeal O'Flaherty. "The What Works Centre: Using Behavioral Science to Improve Social Worker Well-being (B)." Harvard Business School Supplement 921-022, October 2020. (Revised March 2022.)
      • September 2020 (Revised November 2020)
      • Case

      PDS: Ring-Fencing the Ranch

      By: Dennis Campbell, Tarun Khanna and Kerry Herman
      Pallak Seth, Group CEO of PDS Multinational Fashions, is contemplating options to bring better collaboration across his global apparel supply chain platform. PDS, a group of 50-plus subsidiary companies, each led by its own CEO and with different apparel industry... View Details
      Keywords: Collaboration; Supply Chain Management; Performance; Partners and Partnerships; Employee Stock Ownership Plan; Apparel and Accessories Industry
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      Campbell, Dennis, Tarun Khanna, and Kerry Herman. "PDS: Ring-Fencing the Ranch." Harvard Business School Case 721-361, September 2020. (Revised November 2020.)
      • 2020
      • Working Paper

      Consumers Punish Firms That Cut Employee Pay in Response to COVID-19

      By: Bhavya Mohan, Serena Hagerty and Michael Norton
      Two experiments, including one incentive compatible study, examine the impact of cutting pay for executives versus employees in response to COVID-19 on consumer behavior. Study 1 explores the effect of announcing cuts or no cuts to CEO and employee pay, and shows that... View Details
      Keywords: Employee Furloughs; CEO Pay Cuts; Pay Ratios; Purchase Intention; Health Pandemics; Employees; Wages; Executive Compensation; Consumer Behavior
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      Mohan, Bhavya, Serena Hagerty, and Michael Norton. "Consumers Punish Firms That Cut Employee Pay in Response to COVID-19." Harvard Business School Working Paper, No. 21-020, August 2020.
      • July 2020
      • Article

      Does Corporate Misconduct Affect the Future Compensation of Alumni Managers?

      By: Boris Groysberg, Eric Lin and George Serafeim
      Using data from a top-five global executive placement firm, the authors explore how an organization's financial misconduct may affect pay for former employees not implicated in wrongdoing. Drawing on stigma theory, they hypothesize that although such alumni did not... View Details
      Keywords: Corporate Misconduct; Financial Misconduct; Stigma; Crime and Corruption; Employees; Compensation and Benefits
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      Groysberg, Boris, Eric Lin, and George Serafeim. "Does Corporate Misconduct Affect the Future Compensation of Alumni Managers?" Special Issue on Employee Inter- and Intra-Firm Mobility. Advances in Strategic Management 41 (July 2020).
      • Article

      Human Capital and the Future of Work: Implications for Investors and ESG Integration

      By: Sakis Kotsantonis and George Serafeim
      Human capital development (HCD) is a key consideration for most companies, but only recently have investors focused on understanding the risks and opportunities related to human capital with the emergence of environmental, social, and governance (ESG) investment... View Details
      Keywords: Future Of Work; ESG; Employee Engagement; Employee Compensation; Human Capital; Human Resources; Employees; Compensation and Benefits; Wages
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      Kotsantonis, Sakis, and George Serafeim. "Human Capital and the Future of Work: Implications for Investors and ESG Integration." Journal of Financial Transformation 51 (April 2020): 115–130.
      • 2020
      • Article

      Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012

      By: Sari Pekkala Kerr and William R. Kerr
      We study immigrant entrepreneurship in 2007 and 2012 using the Survey of Business Owners. First-generation immigrants create about 25% of new firms in America, but this share exceeds 40% in some states. Immigrant-owned firms tend to create fewer jobs than native-owned... View Details
      Keywords: Job Creation; Employee Benefits; Owner Demographics; Exports; Outsourcing; Immigration; Entrepreneurship; Ownership; Demographics; Jobs and Positions; Compensation and Benefits; United States
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      Kerr, Sari Pekkala, and William R. Kerr. "Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012." Art. 103918. Research Policy 49, no. 3 (April 2020).
      • March 2020 (Revised June 2020)
      • Case

      Social Salary Setting at Spiber

      By: Ashley Whillans and John Beshears
      Can a “set your own salary” system boost employee happiness and motivation? Spiber made synthetic silk built from proteins mimicking the proteins found in spider silk, the world’s toughest known material by weight. Kazuhide Sekiyama and Junichi Sugahara established... View Details
      Keywords: Compensation and Benefits; Motivation and Incentives; Happiness; Negotiation Tactics; Cross-Cultural and Cross-Border Issues; Biotechnology Industry; Japan; United States
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      Whillans, Ashley, and John Beshears. "Social Salary Setting at Spiber." Harvard Business School Case 920-050, March 2020. (Revised June 2020.)
      • February 2020
      • Technical Note

      Talent Management and the Future of Work

      By: William R. Kerr and Gorick Ng
      The nature of work is changing—and it is changing rapidly. Few days go by without industry giants such as Amazon and AT&T announcing plans to invest billions of dollars towards retraining nearly half of their respective workforces for jobs of the future. What changes... View Details
      Keywords: Human Resource Management; Human Capital Development; Human Resource Practices; Talent; Talent Acquisition; Talent Development; Talent Development And Retention; Talent Management; Talent Retention; Labor Flows; Labor Management; Labor Market; Strategy Development; Strategy Management; Strategy Execution; Strategy And Execution; Strategic Change; Transformations; Organization; Organization Alignment; Organization Design; Organizational Adaptation; Organizational Effectiveness; Management Challenges; Management Of Business And Political Risk; Change Leadership; Future Of Work; Future; Skills Gap; Skills Development; Skills; Offshoring And Outsourcing; Investment; Capital Allocation; Work; Work Culture; Work Force Management; Work/life Balance; Work/family Balance; Work-family Boundary Management; Workers; Worker Productivity; Worker Performance; Work Engagement; Work Environment; Work Environments; Productivity; Organization Culture; Soft Skills; Technology Management; Technological Change; Technological Change: Choices And Consequences; Technology Diffusion; Disruptive Technology; Global Business; Global; Workplace; Workplace Context; Workplace Culture; Workplace Wellness; Collaboration; Competencies; Productivity Gains; Digital; Digital Transition; Competitive Dynamics; Competitiveness; Competitive Strategy; Data Analytics; Data; Data Management; Data Strategy; Data Protection; Aging Society; Diversity; Diversity Management; Millennials; Communication Complexity; Communication Technologies; International Business; Work Sharing; Global Competitiveness; Global Corporate Cultures; Intellectual Property; Intellectual Property Management; Intellectual Property Protection; Intellectual Capital And Property Issues; Globalization Of Supply Chain; Inequality; Recruiting; Hiring; Hiring Of Employees; Training; Job Cuts And Outsourcing; Job Performance; Job Search; Job Design; Job Satisfaction; Jobs; Employee Engagement; Employee Attitude; Employee Benefits; Employee Compensation; Employee Fairness; Employee Relationship Management; Employee Retention; Employee Selection; Employee Motivation; Employee Feedback; Employee Coordination; Employee Performance Management; Employee Socialization; Process Improvement; Application Performance Management; Stigma; Institutional Change; Candidates; Digital Enterprise; Cultural Adaptation; Cultural Change; Cultural Diversity; Cultural Context; Cultural Strategies; Cultural Psychology; Cultural Reform; Performance; Performance Effectiveness; Performance Management; Performance Evaluation; Performance Appraisal; Performance Feedback; Performance Measurement; Performance Metrics; Performance Measures; Performance Efficiency; Efficiency; Performance Analysis; Performance Appraisals; Performance Improvement; Automation; Artificial Intelligence; Technology Companies; Managerial Processes; Skilled Migration; Assessment; Human Resources; Management; Human Capital; Talent and Talent Management; Retention; Demographics; Labor; Strategy; Change; Change Management; Transformation; Organizational Change and Adaptation; Organizational Culture; Working Conditions; Information Technology; Technology Adoption; Disruption; Economy; Competition; Globalization; AI and Machine Learning; Digital Transformation
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      Kerr, William R., and Gorick Ng. "Talent Management and the Future of Work." Harvard Business School Technical Note 820-084, February 2020.
      • January 2020
      • Article

      Rethinking Measurement of Pay Disparity and Its Relation to Firm Performance

      By: Ethan Rouen
      I develop measures of firm-level pay disparity and examine their relation to firm performance. Using comprehensive compensation data for a large sample of firms, I find no statistically significant relation between the ratio of CEO-to-mean employee compensation and... View Details
      Keywords: Pay Disparity; Pay Ratio; CEO Pay Ratio; Income Inequality; Executive Compensation; Employees; Wages; Equality and Inequality; Business Ventures; Performance
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      Rouen, Ethan. "Rethinking Measurement of Pay Disparity and Its Relation to Firm Performance." Accounting Review 95, no. 1 (January 2020): 343–378.
      • December 2019 (Revised May 2020)
      • Case

      Income Inequality and the CEO Pay Ratio at TJX Cos

      By: Ethan Rouen and Akari Furukawa
      TJX Companies reported a CEO pay ratio of 1,596-to-1 in 2019, leaving board chair Carol Meyrowitz with a host of questions about whether, and how, she could take action to address concerns raised by having one of the highest pay ratios in the S&P 500. As a retail... View Details
      Keywords: CEO Pay Ratio; Income; Equality and Inequality; Executive Compensation; Corporate Disclosure; Business and Stakeholder Relations
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      Rouen, Ethan, and Akari Furukawa. "Income Inequality and the CEO Pay Ratio at TJX Cos." Harvard Business School Case 120-063, December 2019. (Revised May 2020.)
      • October 2019
      • Teaching Note

      Google: To TVC or Not to TVC?

      By: William R. Kerr and Carl Kreitzberg
      A Teaching Note for the "Google: To TVC or Not to TVC?" case study (HBS#820-048). The case discusses recent controversies regarding how Google manages temporary help agency workers, workers supplied by vendors, and independent contractors ("TVCs"). Such TVCs reportedly... View Details
      Keywords: Workforce; Independent Contractors; Talent Management; Silicon Valley; Google; Employee Attitude; Employee Compensation; Employee Engagement; Future Of Work; Innovation; Innovation And Strategy; Inequality; Talent Acquisition; Labor; Talent and Talent Management; Strategy; Technological Innovation; Employees; Attitudes; Innovation and Management; Human Resources; Information Technology Industry; United States; San Francisco
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      Kerr, William R., and Carl Kreitzberg. "Google: To TVC or Not to TVC?" Harvard Business School Teaching Note 820-049, October 2019.
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