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Managing the psychological contract in competitive labour-market conditions


O'Donohue, W and Wickham, MD, Managing the psychological contract in competitive labour-market conditions, Journal of Global Business Issues, 2, (2) pp. 23-32. ISSN 1931-311X (2008) [Refereed Article]

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This paper presents a reconceptualisation of the PC by incorporating the marketing concepts of ‘value’ and ‘cost’ into its tenets. We illustrate the manner in which marketing language may be incorporated into our understanding of the PC by drawing a parallel between consumer-market transactions for products and labour-market transaction for employment. This paper suggests that to effectively manage PCs in a competitive labour-market must have a detailed understanding of the costs it’s willing to bear, as well as the benefits it receives in the employment relationship. Similarly, it must consider what PC features are most likely to be perceived by employees as representing the most attractive value proposition on offer in a competitive labour market.

Item Details

Item Type:Refereed Article
Research Division:Commerce, Management, Tourism and Services
Research Group:Human resources and industrial relations
Research Field:Human resources management
Objective Division:Economic Framework
Objective Group:Management and productivity
Objective Field:Management
UTAS Author:O'Donohue, W (Dr Wayne O'Donohue)
UTAS Author:Wickham, MD (Dr Mark Wickham)
ID Code:52906
Year Published:2008
Deposited By:Management
Deposited On:2008-10-10
Last Modified:2010-06-04
Downloads:2 View Download Statistics

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