Modern approaches to staff material motivation

DOI: 10.33917/mic-1.90.2020.50-56

This article discusses modern approaches to staff motivation, taking into account current market trends. In the context of digitalization and entry of the «millennials» into the labor market, historically established policies and practices become less effective and require their revision. The role of short-term remuneration become more important, including bonuses based on key performance indicators (KPI), one-time bonuses for special achievements and project bonuses. The remote labor market is growing, and the role of base salary for presence in the workplace is decreasing. Most employers focus on «millennials» who are accustomed to living «here and now», so the role of long-term remuneration programs become less important and the approaches to setting and revision of salary are changing. The widespread integration of information technologies and production robotics have direct impact on the requirements for personnel and their competencies. Professional knowledge and skills fade into the background, personal qualities and social skills become priority. Employers are required to be flexible and systematic in matters of personnel management to make the company efficient and ensure its competitiveness.

References:

1.  Dictionary of economic and financial terms /A.V. Sharkov, Kilyachkov A. A., E. V. Markina and others; under the General editorship of doctor of Economics, Professor M. A. Eskindarov. – Moscow: Publishing and trading Corporation «Dashkov & Co», 2015. – 1168 p. [Electronic resource] (date accessed: 29.12.2019).

2.  Zhurahovsky I. M. E. S. System Solomonova career development for Millennials //Bulletin of Moscow state regional University. Series: Economics. 2017. № 2. pp. 79-85.

3.  Annual review of salaries and compensation [Electronic resource]. – Mode of access: https://www.ey.com/ru/ru/newsroom/news-releases/ey-news-salary-survey-2018 (date accessed: 29.12.2019).

4.  Korneva E. V., Eremina I. Yu., Abdulkadyrov A. S. Fair remuneration: a view from the side of the employee and the company / / Economics and management: problems, solutions. 2019. № 3 (volume 16). pp. 114-120.

5.  Varga E. Dangerous path: how to avoid traps built into the KPI system [Electronic resource]. – Mode of access: http://www.forbes.ru/karera-i-svoy-biznes/359889-opasnyy-put-kak-izbezhat-lovushek-vstroennyh-v-sistemu-kpi (date accessed: 29.12.2019).

6.  Golovkova S. Review of the world experience of labor motivation [Electronic resource]. – Mode of access: https://step-ahead.ru/ru/publikatsii/204-obzor-mirovogo-opyta-motivatsii-truda.html (date accessed: 29.12.2019).

7.  Sharapova A. E. Option as a tool for long-term motivation: foreign and Russian experience / Collection of scientific articles. Institute of management, Economics and Finance, 2016. pp. 171-173.

8.  Report to the HSE. Trends, competencies, measurement [Electronic resource]. – Access mode: https://www.hse.ru/data/2019/04/12/1178004671/2%20%D0%A6%D0%B8%D1%84%D1%80%D0%BE%D0%B2%D0%B0%D1%8F_%D1%8D%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0.pdf (accessed 29.12.2019).

9.  Eremina I. E., Korneva E. V. Unification of the remuneration system in production holdings //Economics and entrepreneurship. 2018. № 6 (95). pp. 1084-1089.

10.      Melguy A. E., Kovaleva N. N., Ermakova L. V. Modern approaches to accounting and analytical work on calculations with personnel related to wages //Science: society, economy, law. 2019. № 3. pp. 18-23.

11. Mosina D. A., Sharapova N. V. personnel training Costs //Science: society, Economics, law. 2018. № 4. pp. 4-8.

Следить за новостями ИНЭС: