Management of the Production Resources of Enterprise Based on Financial Motivation of the Personnel: Theoretical Aspect (original) (raw)
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Modern Management Review, 2018
Motivating issues concern every organization, primarily due to the variety of available motivators and the difficulties resulting from their use, in particular those related to the needs and employee's expectations. At the same time, every motivational system consisting of financial and non-financial motivators generates financial costs for the enterprise. Regardless of the types of motivators used, managers need to prepare the enterprise for bearing specific financial outlays. Therefore, it is necessary to look for motivators that will not only gain employee's acceptance, but, above all, will affect their commitment in achieving the goals that the organization seeks to achieve and at the same time will be an optimal financial burden for the company. An important role in the whole process is played by financial motivation, which is associated with financial expenditures borne by the company, but at the same time it is able to stimulate employees to work effectively. The use of motivators in enterprises may result from the application of various systems and may not always lead to undertaking effective actions on the market. The aim of the study is to present the use of financial motivators in enterprises in the Konin region in the opinion of employees. The paper hypothesizes that motivators in enterprises are an important element of the process of motivating employees, and employers most often apply the settlement of employees for the results and the allocation of bonuses associated with them.
Modern Concepts of Financial and Non-Financial Motivation of Service Industries Staff
Journal of Advanced Research in Law and Economics, 2017
In modern conditions the questions of personnel management, including motivation, acquire new meaning. Particularly given the problems relevant to the service sector, where at the beginning of the XXI century employing more than 60% of the workforce in developed countries. These circumstances determine the need for a modern concept of material and immaterial motivation of service industries. Such factors determine the need for the development modern concept of material and immaterial motivation of service industries staff. To obtain indicated objective during research analyzed the existing concepts and paradigm of staff motivation with highlighting their advantages and disadvantages. The results obtained allowed to establish that scientific and expert community does not have the unified approach to the classification and identification of the most effective ones. Special attention is given to modern developments and approaches to the motivation problem. This fact caused the structure of follow studies, including three interlinked vectors: analysis of the essential content of the fundamental concepts in the field of staff motivation; defining features of employee motivation at the enterprises sphere of services; introduction to the key successful international practices which apply by service companies. In general, the results obtained enabled the authorÕs model of the modern concept of material and non-material motivation at the enterprises the service sector and the corresponding mechanism for the implementation
2021
Employees prefer to work in the workforce to achieve the organization's priorities and expectations. However, the manager's job comprises of several aspects, including teamwork, collaboration, decision-making, communication and organizational inspiration. The biggest obstacle that is being addressed by management is the reinvention of management owing to the demanding job climate and professional capabilities of the supervisors, which have been deemed inadequate to inspire workers in the workforce. Managers also ought to maintain a positive interaction with their workers at work, and that will be achieved by offering assistance and encouragement to improve employee morale at work and increase their efficiency. However, inspiration and dedication are the core human resource in the Company as they will boost the workplace's efficiency and increase worker satisfaction. The research implemented the quantitative and qualitative approach throughout addressing Different retail ...
Formation of an Effective System of Personnel Motivation at Industrial Enterprises of Ukraine
Laisvalaikio tyrimai, 2024
It is found that the level of competitiveness of enterprises, and stability of functioning largely depends on the efficiency and results of the work of personnel, and the level of their skills. The quality and timeliness of tasks, production, and the formation of creative ideas depend on the qualifications of employees. Therefore, an important indicator of a company's staff efficiency at the enterprise is labour productivity, the level which depends on the personnel policy, and the motivation system. It is determined that forms and methods of motivation affects the level of labour productivity, satisfaction with working conditions, interaction, and teamwork. It is determined that at industrial enterprises it is expedient to introduce modern forms of motivation of employees, which will affect not only the quality of staff work, increase interest in the results of work, but also the level of profitability, production, and sales volumes. Likewise, it is proved that the introduction of various forms of stimulation of personnel in a complex will ensure the efficiency of work, and stability of the functioning of the enterprise. Furthermore, it is found that the use of different forms and methods of motivation allows to establishment of the process of personnel management and ensures the efficiency of their work. Among the problems of personnel motivation at enterprises are defined as limited amount of financial support, low level of wages, unfavourable psychological climate in the team, limited access to information data, non-use of indirect methods of motivation, and inefficiency of personnel policy. Recommendations for improving the motivation of personnel at enterprises have been formed: conducting training and webinars for employees; advanced training and training in the field of software application; hiring qualified employees; study of the psychological climate in the team to prevent problems and solve them; improvement of the system of formation of premiums; formation of a social package; promoting self-development and teamwork. It is proved that motivation affects labour productivity, personnel management and the functioning of the firm, work results, and formation of competitive advantages. The system of personnel motivation for industrial enterprises has been improved, which consists of a set of elements and stages of formation, approbation, implementation, and improvement, which will contribute to increasing the effectiveness of employees, and the efficiency of enterprises.
The Importance Of Employee Motivation To Increase Organizational Performance
Annales Universitatis Apulensis Series Oeconomica, 2013
The present study starts from the premise of understanding the concept of "motivation" by everyone, and the importance of this phenomenon, in general. Despite the fact that it is permanently approached in specialty works, discussed and analyzed at congresses, seminars and internal meetings, motivation seems to continue to conceal secrets for (too) many employers, while the polls with the employees hired in big companies certainly demonstrate that they are not motivated in accordance with the contribution they bring to the company welfare. Though the financial side of motivation is widely preferred and known by the both parts-employer and employee-, in the present study we shall insist and plead for the possibilities of application and the results of the efficient non-financial motivation plan to the internal climate and the lasting performance of the firm. The aim of the present work is to understand the strategic importance of the non-financial motivation in the management process, being well known the fact that the performance obtained at the level of organization as well as its prestige crucially depend upon the quality of human resource motivation.
Differentiated Approach to Employee Motivation in Terms of Finance
Journal of Business Economics and Management, 2020
Motivating the employees is considered one of the essential manager’s skills. Knowledge of powerful motivation factors allow managers to motivate employees effectively. It results in motivated employees able to affect a success of enterprises and its competitive advantage. Following the research carried out using 34,000 Slovak employees, the importance of motivation factors relating to finance was defined. Tukey’s HSD test, as a part of the ANOVA analysis, was used for extensive investigation into the most important motivation factors relating to finance. It is supposed that motivation of employees of different gender, age and job position will differ. The suppositions were confirmed by the results achieved in the research showing significant differences between individual employee categories of managers, blue-collar workers and white-collar workers. Taking into consideration the results, managers are suggested to concentrate on motivating the employees as parts and not as a whole b...
Financial and non-financial methods of motivating employees in selected company
2015
Tato bakalařska prace se zabýva financnimi a nefinancnimi prostředky, ktere se použivaji k motivaci zaměstnanců ve vybranem podniku. Cilem je zjistit, zda jsou zaměstnanci spokojeni s danými prostředky, jake jsou nedostatky těchto prostředků a jejich dopady na motivaci zaměstnanců ovlivňujici jejich produktivitu v praci. Zjistěni o motivacnich prostředcich a spokojenosti zaměstnanců vychazi na zakladě pozorovani autora jako zaměstnance v podniku a take z výsledků elektronickeho setřeni, ktere bylo vyplněno zaměstnanci v podniku. Výsledky dotazniku pak slouži jako podklad k hodnoceni celkoveho motivacniho systemu, jehož nedostatky budou definovany a nasledně bude vytvořen navrh na zlepseni a zdokonaleni motivacniho systemu v ramci možnosti podniku.
Analysis of Influence of Motivation, Competence, Compensation toward Performance of Employee
Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 2020
Motivation, competence, compensation and performance are important factors in an organization to achieve its stated goals. This study will examine empirically related to motivation, competence and compensation for its effect on employee performance. The research method used in this research is quantitative with survey techniques. The sample in this study were employees. Determination of the sample is done by proportional random sampling. Sources of data in this study are primary and secondary data. The analysis technique used in this study is path analysis. The results of the study prove that motivation, competence, compensation and performance are in the category of being headed well. While the results of verification studies prove that motivation, competence and compensation have a significant effect both partially and simultaneously on employee performance.
Increasing organizational performance through non-financial motivation of the employees
Ovidius University Annals Economic Sciences Series, 2023
Over the last decades, the emphasis on human resources has grown considerably, companies understanding that human resources represent the main capital at their disposal and that they must capitalize on as much as possible to increase organizational performance. The present article analyzes the way in which human resources can be motivated by non-financial means so that the involvement of employees is constant, continuously increasing, thus ensuring benefits from the perspective of the results obtained, these, in turn, contributing to the increase of organizational performance.
Academy of Strategic Management Journal Volume 21, Special Issue 2, 2022, 2022
This study deals with the financial incentive and its effect in improving the employee's capacities. The enormous and speed growing the world testifies in domain of developing the institution leads to increase the concerning about improving the employees' capacities by supporting them with the financial incentive and rewards which in return reflect positively on all aspects of institution. This study aims to define the relevance of effect and correlation between the financial incentive and the employee's capacities by the focus on the represented issue with how to determine the adequate financial incentive which in return leads to promote the employee's capacities at Al-Qasim Green University. The researcher uses the descriptive method with a correlated relevance to be convenient with the research solving-problem and fulfill its aims. Also, he depends on the collecting data method by pre-prepared questionnaire for the same reason; the appropriate statistics are used in analyzing the data by the statistical package for the social science program (SPSS.V.20). The study reveals set of conclusions that there's significant correlation and effect relevance between the research bivariate. Furthermore the study indicates the following recommendations: the emphasis on yielding the convenient financial incentive to boost the employee's capacities.