Question

The expectation of a fair exchange of employment obligations between an employee and employer is called?

Answer 1

The expectation of a fair exchange of employment obligations between an employee and employer is called the psychological contract.

What is the psychological contract?

• A psychological contract, a concept developed in contemporary research by organizational scholar Denise Rousseau, represents an employer's and an employee's mutual beliefs, perceptions, and informal obligations.
• It establishes the dynamics of the relationship and defines the specifics of the work to be done.
• It differs from the formal written employment contract, which, for the most part, only identifies mutual duties and responsibilities in broad strokes.
• The psychological contract refers to the expectation of a fair exchange of employment obligations between an employee and an employer.
• A psychological contract is defined as a philosophy rather than a formula or predetermined plan.
• Characteristics of a psychological contract include respect, compassion, objectivity, and trust.

Therefore, the expectation of a fair exchange of employment obligations between an employee and employer is called the psychological contract.

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