• English (United Kingdom)
  • Russian (CIS)
Improving the Efficiency of Using Labour Resources Through the Rationalization of Monetary Incentives

Author: Irina V. Tsarenko

Abstract:

Most researchers consider the development of monetary motivation systems as one of the most important factors behind the increase in efficiency of labour resources and growth in their productivity. Having conducted economic and statistical analysis the author proved the inelastic influence of average wages on the efficiency of labour resources in the Russian Federation. The main reason behind this is insufficient linkage between wages and individual performance of an employee irrespective of a type of ownership of a company and field of business activities. To solve this problem the author suggests an alternative to the current system of forming a payroll budget, namely, the system based on KPI (Key Performance Indicators).

Keywords: labour resource; wages; efficiency; labour productivity; wage differentiation; KPI; payroll budget

For citation:

Tsarenko I. V. Povyshenie effektivnosti ispol'zovaniya trudovykh resursov na osnove ratsionalizatsii material'nogo stimulirovaniya [Improving the Efficiency of Using Labour Resources Through the Rationalization of Monetary Incentives].  Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 3 (65), pp. 150–155.