Wages,fringe benefits and worker turnover |
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| Institution: | 1. School of Economics and Management, China University of Geosciences, Beijing, 100083, China;2. China Center for International Economic Exchanges, Beijing, 100050, China;3. Key Laboratory of Carrying Capacity Assessment for Resource and Environment, Ministry of Natural Resources, Beijing, 100083, China;4. School of Management, Hebei University, Baoding, 071002, China;5. School of Management and Engineering, Capital University of Economics and Business, Beijing 100070, China;1. Department of Economics, Stockholm School of Economics, P.O. Box 6501, SE-11383, Stockholm, Sweden;2. SAFE, Goethe University Frankfurt, House of Finance, Theodor-W.-Adorno-Platz 3, 60629 Frankfurt am Main, Germany;3. Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa;1. Hart School of Hospitality, Sport, and Recreation Management, James Madison University, Harrisonburg, VA 22807, USA;2. Department of Advertisement and PR & Event Planning, Woosuk University, 443, Samnye-ro, Samnye-eup, Wanju-gun, North Jeolla Province, Republic of Korea;3. College of Hospitality and Tourism Management, Niagara University, Lewiston, NY 14109, USA;4. The Collins College of Hospitality Management, California State Polytechnic University Pomona, 3801?W. Temple Ave., Pomona, CA 91768, USA;1. CESP, University Paris-Sud, UVSQ, INSERM, University Paris-Saclay, Hôpital Paul Brousse, 16, Avenue Paul Vaillant-Couturier, 94801, Villejuif, France;2. Health Economics Research Unit, University of Aberdeen, Institute of Applied Health Sciences, Foresterhill, Aberdeen, AB25 2QN, United Kingdom |
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| Abstract: | Linked employer–employee data from Norway are utilised to study how employers use wages and fringe benefits in managing their workforce. The analysis shows that on average across all establishments, we observe a positive correlation between wages and fringe benefits. This indicates the presence of labour market frictions and thus is not supportive of the classical frictionless hedonic wage model. Higher wages and more fringe benefits reduce the worker turnover rate. Fringe benefits have stronger negative impact on the excess worker turnover rate than indicated by the reported monetary value. |
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