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- January 2006
- Article
Are Perks Purely Managerial Excess?
By: Raghuram G. Rajan and Julie Wulf
A widespread view is that executive perks exemplify agency problems--they are a route through which managers misappropriate a firm's surplus. Accordingly, firms with high free cash flow, operating in industries with limited investment prospects, should offer more... View Details
Keywords: Problems and Challenges; Cash Flow; Business or Company Management; Situation or Environment; Performance Productivity; Investment; Executive Compensation
Rajan, Raghuram G., and Julie Wulf. "Are Perks Purely Managerial Excess?" Journal of Financial Economics 79, no. 1 (January 2006): 1–33. (Winner of the Second Place 2006 Jensen Prize for "Best Paper on Corporate Finance and Organizations" presented by Journal of Financial Economics .)
- 2004
- Working Paper
Are Perks Purely Managerial Excess?
By: Raghuram G. Rajan and Julie Wulf
Why do some firms tend to offer executives a variety of perks while others offer none at all? A widespread view in the corporate finance literature is that executive perks are a form of agency or private benefit and a way for managers to misappropriate some of the... View Details
Keywords: Motivation and Incentives; Performance Productivity; Executive Compensation; Corporate Finance
Rajan, Raghuram G., and Julie Wulf. "Are Perks Purely Managerial Excess?" NBER Working Paper Series, No. 10494, May 2004. (Published in Journal of Financial Economics 2006.)
- 30 Nov 2022
- Research & Ideas
Recruiters: Highlight Your Company’s Diversity, Not Just Perks and Pay
Employers are dangling all sorts of sparkling lures to capture hot job candidates in the battle for top talent: Generous compensation. Stock options. Lofty titles. But Harvard Business School research suggests that many companies fail to promote a key draw for many... View Details
Keywords: by Sean Silverthorne
- June 2, 2022
- Article
How to Build a Life: The Perks of Being a Hot Mess
By: Arthur C. Brooks
Brooks, Arthur C. "How to Build a Life: The Perks of Being a Hot Mess." The Atlantic (June 2, 2022).
- August 2018 (Revised August 2019)
- Technical Note
A Note on Compensation
By: Ethan Bernstein and Michael Norris
This note provides an overview of the important terms, concepts, and frameworks that a manager should know about compensation—whether it be their own or that of an employee. Because compensation in practice is fraught with pitfalls, this note presents an overview of... View Details
Keywords: Compensation Design; Benefits; Perks; Variable Compensation; Compensation and Benefits; Executive Compensation; Stock Options; Profit Sharing; Job Design and Levels; Labor Unions; Wages; United States
Bernstein, Ethan, and Michael Norris. "A Note on Compensation." Harvard Business School Technical Note 419-020, August 2018. (Revised August 2019.)
- 21 Feb 2023
- Research & Ideas
Are Your Employees Passing Up Incentives? Try Promoting the Programs More
Motivating employees takes more than carrots and sticks—it hangs on making them aware of those incentives and deterrents, according to new research. Companies, governments, and institutions across the globe spend countless billions on incentive programs in hopes of... View Details
Keywords: by Scott Van Voorhis
- 04 Aug 2021
- Research & Ideas
Worried About the Great Resignation? Be a Good Company to Come From
These employers are missing the underlying point. Instead of resorting to perks that are at best a band-aid, companies should follow the lead of Recruit Holdings, a $20 billion Japanese advertising and tech company that focuses on being a... View Details
Keywords: by Sandra J. Sucher and Shalene Gupta
- January 2008 (Revised December 2011)
- Case
Inner Mongolia Yili Group: China's Pioneering Dairy Brand
By: Regina M. Abrami, William C. Kirby, F. Warren McFarlan and Tracy Yuen Manty
Setting up the goal to become one of the top 20 enterprises in the world dairy industry by 2010, the Inner Mongolia Yili Group had ambitious plans. As one of China's biggest national dairy companies, its main challenge was competing as a local company against... View Details
Keywords: Global Strategy; Globalized Markets and Industries; Growth and Development Strategy; Brands and Branding; Competition; Agriculture and Agribusiness Industry; China
Abrami, Regina M., William C. Kirby, F. Warren McFarlan, and Tracy Yuen Manty. "Inner Mongolia Yili Group: China's Pioneering Dairy Brand." Harvard Business School Case 308-052, January 2008. (Revised December 2011.)
- 14 Jun 2023
- Research & Ideas
Four Steps to Building the Psychological Safety That High-Performing Teams Need
Perks like remote work or unlimited vacation time might be nice, but when it comes to true fulfillment in a post-pandemic workscape, psychological safety is essential. Harvard Business School Professor Amy C. Edmondson coined the term... View Details
Keywords: by Kara Baskin
- Research Summary
Non-Financial Incentives
My research shows how firms combine many facets of internal governance to motivate managers. A perspective that underlies much of my research is that managers are not motivated by financial rewards alone: “it’s not just about the... View Details
- 08 Aug 2023
- Research & Ideas
Black Employees Not Only Earn Less, But Deal with Bad Bosses and Poor Conditions
levels,” Zhang says. “But especially younger generations are increasingly concerned with other elements in the workplace, and they are even willing to sacrifice wages for these other amenities.” Black employees get fewer workplace perks... View Details
Keywords: by Michael Blanding
- 07 Jun 2023
- HBS Case
3 Ways to Gain a Competitive Advantage Now: Lessons from Amazon, Chipotle, and Facebook
perk that allowed Amazon to capture market share and eventually blow past Sony, which after years of struggling, closed its e-reader store in 2014. “Without creating a competitive advantage, it is difficult for companies to produce and... View Details
Keywords: by Michael Blanding
- 14 Feb 2023
- Research & Ideas
When a Vacation Isn’t Enough, a Sabbatical Can Recharge Your Life—and Your Career
stories showing that a lot of people do this and end up OK, and most likely better.” DiDonna says employers may want to consider offering sabbaticals as a perk to employees to help show workers that the company values them as whole people... View Details
Keywords: by Michael Blanding
- 22 Aug 2016
- Research & Ideas
Master the One-on-One Meeting
Whether you’re a CEO or a line manager, your team is just as important as a group as its members are as individuals. Today’s tech companies offer many perks to attract and retain the best employees. We offer competitive salaries, training... View Details
Keywords: by Julia B. Austin
- 28 Jan 2019
- Research & Ideas
Forget Cash. Here Are Better Ways to Motivate Employees
trip or dinner is more memorable and emotionally satisfying to them than just receiving cash, so it can act as a stronger motivator.” Give the gift of time—and other intangible perks A Glassdoor survey Whillans and her team conducted with... View Details
Keywords: by Dina Gerdeman
- 02 Feb 2023
- Research & Ideas
Why We Still Need Twitter: How Social Media Holds Companies Accountable
Pacelli says. You Might Also Like: Is There a Method to Musk’s Madness on Twitter? Truth Be Told: Unpacking the Risks of Whistleblowing Recruiters: Highlight Your Company’s Diversity, Not Just Perks and Pay Feedback or ideas to share?... View Details
- 26 Sep 2023
- Research & Ideas
Unpacking That Icky Feeling of 'Shopping' for Diverse Job Candidates
Quantifying the Bias Black Investors Face Recruiters: Highlight Your Company’s Diversity, Not Just Perks and Pay Feedback or ideas to share? Email the Working Knowledge team at hbswk@hbs.edu. Image: iStock / Megaflopp View Details
Keywords: by Kristen Senz
- 03 Jan 2023
- Book
Confront Workplace Inequity in 2023: Dig Deep, Build Bridges, Take Collective Action
equity and who are different than you, then we can together start dismantling these systemic inequities.” You Might Also Like: Recruiters: Highlight Your Company’s Diversity, Not Just Perks and Pay Too Nice to Lead? Unpacking the Gender... View Details
Keywords: by Pamela Reynolds
- 03 Jun 2022
- Research & Ideas
In a Work-from-Anywhere World, How Remote Will Workers Go?
is poised for a drastic, historic change, says Harvard Business School Professor Prithwiraj Choudhury. What’s more, the normalization of virtual work that began with the COVID-19 pandemic is creating meaningful perks for local economies,... View Details
Keywords: by Kara Baskin
- 29 Nov 2021
- Research & Ideas
How Bonuses Get Employees to Choose Work Over Family
perks like bonuses, commissions, or stock options tied to hitting certain goals. But managers may not realize that these incentives could contribute to employee dissatisfaction, burnout, and personal problems at home. “The more our... View Details
Keywords: by Rachel Kim Raczka