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Institute for Compensation Studies

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The Institute for Compensation Studies™ (ICS) at Cornell University's ILR School is an interdisciplinary center that researches, teaches and communicates about monetary and non-monetary rewards from work, and how these rewards influence outcomes for individuals, companies, industries, and economies.

Joseph R. Rich ’80 Professorship recognizes expertise of ICS director

Beth Florin (MS ’85) has established the Joseph R. Rich ’80 Professorship in memory of her husband, Joseph R. Rich, BS ILR ’80, MS ’86. The inaugural recipient of this named professorship is Professor Kevin F. Hallock, director of the Institute for Compensation Studies and professor of economics and of HR studies.

The Joseph Rich ’80 professorship was established to recognize an ILR faculty member contributing to compensation studies in the field of labor economics or human resource management. It is a tribute to the late Joe Rich, who was a dedicated ILRie.

Hallock reflects that Rich “was a tireless supporter of Cornell and a wonderful mentor to many, many people, including me. I learned a great deal about compensation in the real world from Joe.” On the honor of receiving the Joseph R. Rich ’80 Professorship, Hallock adds: “This is particularly special to me since I knew Joe, and personally appreciate what a great person he was, both in his professional work and in his love for his family. I am delighted to be associated with Joe and his family in this way.”

“Joe and I had talked about establishing a professorship like this one, and I’m so happy that I can do so in recognition of him and his strong belief in compensation, and to help Cornell ILR be the preeminent authority on compensation studies,” Florin said. “It’s my hope, and Joe would most likely agree, that this professorship will support faculty in their efforts to do more applied research that can benefit practitioners in their work.”

Rich had served on the ILR Alumni Association’s board of directors and the ILR Advisory Council. He co-founded with Florin a technology industry compensation consultancy, Executive Alliance, which was acquired by Clark Consulting in 2001. Rich was chairman of Pearl Meyer and Partners at the time of his passing in December 2007 at the age of 48.

Florin is an involved and passionate Cornellian committed to the advancement of ILR. She is a member of Cornell’s Student and Academic Services Advisory Council and the ILR Advisory Council, and recently served on the Cornell University Council. She also been a supportive advisor to the Institute for Compensation Studies and provided the institute with its first endowment in honor of her late husband, the Joseph Rich Memorial Fund for Compensation Studies. [See ICS Spotlight Nov. 23 2010]

Hallock joined Cornell’s faculty in the fall of 2005 after 10 years on the faculty at the University of Illinois. He earned a Ph.D. in economics from Princeton University in 1995. His research has centered on compensation design, the effects of job loss on organizations, human capital and discrimination. At Cornell he has served as a member of the Provost’s Budget Model Task Force, chairman of the Department of Labor Economics and the chair of the Campus Financial Policy Committee. He currently serves on the board of the Center for Advanced Human Resources Studies (CAHRS) and as director of the Institute for Compensation Studies. In the summer of 2012 he will start a three-year term as chairman of the new university-wide Department of Economics. He has served on more than 40 Ph.D. dissertation committees.

A celebration is scheduled for September 22 to formally dedicate the Joseph R. Rich ’80 Professorship. (Contact Sue Sappington,