REMUNERATION AS AN ELEMENT OF MATERIAL MOTIVATION OF EMPLOYEES

Abstract

In a market economy, labor is a commodity and has a price. The price of labor is determined by wages. Remuneration is a financial system of relations between an employee and an employer regarding the payment of remuneration for work in accordance with current legislation and regulations. The purpose of the article is to systematize the theoretical provisions and determine the current state of wages in the management system of work motivation of enterprise personnel. The relevance of the article is that in modern conditions, the art of people management is becoming a crucial condition that ensures the competitiveness of enterprises and the stability of its entrepreneurial success. That is why recently the interest in such a field of management as staff motivation, which is a significant part of the concept of management science, has grown. Knowledge of motivational attitudes of the employee, the ability to form and guide them in accordance with the personal goals and objectives of the enterprise - the most important issue in modern business. During this analysis, such methods as comparative analysis, comparison methods, system method, grouping method were used. According to the results of the study, an effective tool for personnel management is the effective functioning of the system of incentives and motivation, which is well designed and used in practice, encouraging specific employees and the team as a whole to achieve personal and general goals. In market conditions, enterprises are given great freedom in the use of labor resources, in determining the forms and systems of remuneration of employees. The most effective system of remuneration is a system designed for a particular enterprise, taking into account its activities, the specifics associated with the strategic objectives of the enterprise as a whole. The practical significance of the article is to develop recommendations and measures to improve the remuneration system, which can be used in the company to increase employee satisfaction with their income, increase the interest of management to increase wages to achieve the highest economic performance.