Globalization and Employment Relations in Retail Banking

Offering evidence on the nature of the pressure that international economic change exerts in countries with different forms of labour law and regulation, this collection of essays explores the impact of globalization on relations between employees and employers in retail banking. It is the first comparative analysis of the current nature of these relations in the banking field at the national and local levels. The articles report preliminary findings from studies of changes in employment relations in retail banking in seven economies: Korea, Singapore, Hong Kong, the United States, Australia, Germany, and China. This grouping covers both liberal market economies (in which firms rely on markets and hierarchies to resolve coordination problems) and coordinated market economies (in which firms make greater use of non-market mechanisms to resolve coordination problems internally and externally). The article on banking in China is the first English-language study of the emerging pattern of industry-level employment relations in this most important of economies. The wealth of data available here allows practitioners, researchers, academics, and policymakers to reach such valuable understandings as the following: assess whether there is evidence that the impact of globalization on employment relations varies systematically across varieties of capitalism; evaluate factors that shape the relationship between international economic change and patterns of employment relations; gain insight into the relation between foreign direct investment and the politics, economics, and social systems of particular nation states and focus on distinctive developments in the under-researched Asian region. Emphasizing five key issues work organization, skill formation, remuneration systems, staffing arrangements, and enterprise governance, the analysis is attentive to both issues of change and the role of agents in bringing about that change. The authors highlight the possibility that within any economy there may be a range of different and competing sets of institutional logics. These informative and insightful articles represent the first empirical findings from the Globalization and Employment Relations in Auto-assemblies and Banking (GERAB) project. The book demonstrates that the research design of this project is a giant step toward sophisticated theoretical models that are capable of capturing and explaining the complex, contingent, and multi-causal relationship between employers and employees in the context of a changing world economy.