Modern approaches to staff material motivation

DOI: 10.33917/mic-1.90.2020.50-56

This article discusses modern approaches to staff motivation, taking into account current market trends. In the context of digitalization and entry of the «millennials» into the labor market, historically established policies and practices become less effective and require their revision. The role of short-term remuneration become more important, including bonuses based on key performance indicators (KPI), one-time bonuses for special achievements and project bonuses. The remote labor market is growing, and the role of base salary for presence in the workplace is decreasing. Most employers focus on «millennials» who are accustomed to living «here and now», so the role of long-term remuneration programs become less important and the approaches to setting and revision of salary are changing. The widespread integration of information technologies and production robotics have direct impact on the requirements for personnel and their competencies. Professional knowledge and skills fade into the background, personal qualities and social skills become priority. Employers are required to be flexible and systematic in matters of personnel management to make the company efficient and ensure its competitiveness.