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Liburkina L. M.

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Staff Rewarding as a Motivational Management Tool
Makhsma M. B., Melnyk T. P.

Makhsma, Mariia B., and Melnyk, Taras P. (2024) “Staff Rewarding as a Motivational Management Tool.” Business Inform 7:459–465.
https://doi.org/10.32983/2222-4459-2024-7-459-465

Section: Management and Marketing

Article is written in Ukrainian
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UDC 005.32:331.101.3]:331.225.3

Abstract:
The aim of the article is to analyze the current state of material incentives, in particular bonuses for staff on the example of a production enterprise, and to outline measures aimed at improving its efficiency in modern military economic conditions. Over the past five years, the system of motivation and stimulation of employees of domestic enterprises in the production sector has suffered major shocks from the pandemic and the full-scale military invasion. The latter was manifested by waves of decline in production volumes, deterioration of the financial condition of enterprises and, as a result, a reduction in the growth rate of wages and labor productivity. Nevertheless, in 2023 enterprises mostly adapted to the challenges and restrictions of martial law, which allowed them to strengthen their financial performance and slightly improve their motivation system, in particular, to increase the level of remuneration. Still, against the background of positive changes in employee incentives, a negative trend was a reduction in the share of additional wages, in particular production and non-production bonuses, which negatively affected the motivation of employees, caused a slowdown in the growth rate of staff productivity and a corresponding deterioration in other financial and economic indicators. Under martial law, in which the business sector is currently operating, an important task of the company’s management is to improve the motivational policy, which should be aimed not only at a nominal increase in the level of remuneration, but also at improving the wage structure. In the context of increasing the efficiency of motivation and stimulation of staff, it is proposed to increase the share of additional wages, in particular bonuses, expand their types, clarify the criteria and indicators of bonuses, improve information and communication interaction between management and staff and implement further measures aimed at building an effective bonus system. The application of the proposed measures will stimulate employees to work more productively and achieve the goals of the organization, as it will allow to establish a closer connection between results and remuneration for work.

Keywords: bonuses, motivation, stimulation, management, motivational management.

Fig.: 1. Tabl.: 1. Bibl.: 10.

Makhsma Mariia B. – Doctor of Sciences (Economics), Professor, Professor, Department of Socio-Economics and Personnel Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Melnyk Taras P. – Applicant, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)

List of references in article

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