People and Management - January 06, 2017

Welcome to the January Edition of People and Management!

Developing a comprehensive framework for analysing many diverse issues in contractual design, such as performance-based pay for top executives, deductibles and co-pays in insurance, and the privatisation of public-sector activities won Oliver Hart, a British economist at Harvard University, and Bengt Holmstrom, a Finnish economist at MIT, this year’s Nobel Prize for Economics.

The Cover Story Contract Theory - Risk, Incentive and Reward looks at its merits and potential business application. Motivation and Retention – Embracing Ownership Share suggests various ways that can lead to substantial feelings of satisfaction and control, thus leading to immense motivation and increased retention.

Mr. Hari Padmanabhan, Chairman, PanIIT Alumni Reach for India Foundation (PARFI), talks about imparting skills to the youth through social enterprise.