Artikel
Trust in management in organizations
It is not possible for a formal employment contract to detail everything an employee should do and when. Informal relationships, in particular trust, allow managers to arrange a business in a more productive way; high-trust firms are both more profitable and faster growing. For example, if they are trusted, managers can delegate decisions to employees with confidence that employees will believe the promised rewards. This is important because employees are often better informed than their bosses. Consequently, firms that rely solely on formal contracts will miss profitable opportunities.
- Language
-
Englisch
- Bibliographic citation
-
Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2023
- Classification
-
Wirtschaft
Human Capital; Skills; Occupational Choice; Labor Productivity
Personnel Management; Executives; Executive Compensation
Personnel Economics: Labor Management
- Subject
-
management
trust
productivity
profitability
- Event
-
Geistige Schöpfung
- (who)
-
Meagher, Kieron J.
Wait, Andrew
- Event
-
Veröffentlichung
- (who)
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Institute of Labor Economics (IZA)
- (where)
-
Bonn
- (when)
-
2023
- DOI
-
doi:10.15185/izawol.507
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Meagher, Kieron J.
- Wait, Andrew
- Institute of Labor Economics (IZA)
Time of origin
- 2023
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