The subject matter of the research paper refers to theoretical and methodological principles of the practical performance of incentive function of payment for work. It is stressed that due to increasing competition and a shortage of highly skilled workers in a market economy, motivational tools constitute the basis for attracting skilled workforce to entities. Theoretical underpinning and practical proposals for developing an effective employee motivation model are urgent and important for personnel administration.
The purpose of the article is to formalize an employee motivation model, which meets managerial and personalized needs, to describe its elements and assess effectiveness. The main objectives of the research paper refer to developing methods for constructing a formalized employee motivation model, and describing its constituent elements. The research and its results are based on the use of general scientific and special methods. The systemic approach enables to develop a concept for assessing the effectiveness of incentive function of remuneration, based on generalization, empirical estimates, analysis, evaluation, and formalization of factors that enhance employee motivation and can be obtained through questionnaires.
As a result of using a wide range of material and research methods, a basic framework and a possible motivation model are developed and approaches to its assessment are proposed. Applying the classic approach to positioning effectiveness and its essential characteristics was the starting point. It is concluded that payment (salary / wages) is the key indicator for an employee motivation model and employee income model. Based on the views of various scholars and data obtained from questionnaires (including those available on the Internet), the main motivational factors are determined and an improved employee motivation model is proposed. According to the determined factors, a formalized mathematical model of motivation is developed, which makes it possible to take into account a degree of impact of each indicator on the resulting indicator (general motivation).
Supplementing the proposed model with income indicators (by corresponding constituents), allowances and bonuses authorized by the existing legislation makes it possible to develop a generalized and formalized mathematical model for assessing employee motivation. The model can be used for carrying out comparative and predictive analysis, and choosing an algorithm for practical implementation of measures aimed at increasing employee motivation at an enterprise. The developed model also enables to take into account statistical, financial-economic and forecasting indicators for the identification of motivational purposes. For practical implementation of the developed model in a computerized environment, a structural scheme of its functioning is proposed; indicators and algorithms for calculation as well as necessary program modules are described.
Constructing Vietnamese State-Owned Corporations’ Employee Motivation Model In the Era of Industry 4.0