Typical pay increases are not enough to motivate employees, but they are enough to irritate them. … Even when companies create seemingly significant pay differentiation between low and high performers, the actual cash increase is insufficient to sustain performance – or it drives the wrong behaviors. … Effective management is a system, not a pay plan. The mistake is that companies try to solve all their problems with pay.
Jeffrey PfefferPeople tell me the Netflix series, House of Cards, is sort of like my class come to life. The movie Margin Call portrays the realities of hierarchical relationships and rivalries beautifully, and how people respond when under pressure. Gandhi and Long Walk to Freedom both have the virtue of presenting larger-than-life figures in a more realistic way, showing their flaws and contradictions - their humanity - in a way that is very helpful.
Jeffrey PfefferWe need economic policies in the U.S. that produce jobs, first of all, but good jobs, second of all. Believe it or not, Germany, a country characterized by high wages, strong unions, a social safety net, and so forth is the second largest exporter (after China) in the world. The idea that the only way to succeed is by eliminating vacations, sick days, worker protections, and so forth is simply belied by the competitiveness rankings produced by the Economist magazine's intelligence unit and by the World Economic Forum.
Jeffrey PfefferThe single most significant change has been the globalization of labor markets. Product markets - trade in goods - have been globalizing for years. But now, with the reduction in communication expenses and the building of all sorts of IT infrastructure, essentially any job can be done almost anywhere.
Jeffrey Pfeffer