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Employees who believe their psychological contract is fair (i.e., they receive as much as they give) are generally more motivated and committed to their work and the company’s wider goals and more likely to go above and beyond to perform.
The term psychological contract refers to the often unspoken set of expectations and assumptions that two parties (employees and the organisation, its leaders and managers) have of each other about things like how they will behave and act.
A psychological contract is the unspoken trust between an organization and its workers. It covers things like job security, chances for growth, and work-life balance. These promises are vital for keeping employees happy and engaged.
Sep 14, 2024 · It’s crucial to understand that psychological contracts differ significantly from formal, written contracts. While a formal contract might stipulate your salary, working hours, and job responsibilities, a psychological contract deals with the intangible aspects of work.
A psychological contract is a set of individual beliefs that a person has about the reciprocal obligations and benefits established in an exchange relationship, such as an employment relationship in an organizational setting.
Simply, in an employment context, the Psychological Contract is the fairness or balance (typically as perceived by the employee) between: how the employee is treated by the employer, and. what the employee puts into the job. The words 'employees' or 'staff' or 'workforce' are equally appropriate in the above description.
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The greatest bond between you and your employees can take shape in a psychological contract. Here is why it matters for your team today.
