Modernization of the Remuneration Management Mechanism in Achieving Enterprise Goals in the Context of Digitalization
Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.80, No. 2)Publication Date: 2024-06-20
Authors : Kryvosheyev I. Gudz P.;
Page : 168-174
Keywords : payroll management; salary benchmarking; digitalization; labor market; personnel motivation; competitiveness;
Abstract
The article examines changes in the payroll management system of enterprises caused by the war and digitalization in Ukraine. It highlights transformational processes in the employment structure and new challenges for employers in wartime conditions. It examines current management problems related to population migration, relocation of enterprise branches, the development of remote work, and the need to adapt to new realities on the labor market. It emphasizes the need to implement innovative approaches to the formation of payroll policy in response to dynamic changes in the market environment. Special attention is paid to the use of the salary benchmarking tool, which is a significant strategy for improving payroll management and achieving the company's goals by retaining highly qualified employees. The feasibility of using this method in combination with external market indicators and internal company factors is substantiated. The importance of analytical digital tools in ensuring efficiency, flexibility, and validity of personnel decisions is outlined. The level of wages was analyzed based on official statistics and data from online platforms, which allows identifying industry disparities in the remuneration policy depending on the specifics of the enterprise. It was emphasized that the adaptation of the remuneration system to changes in the external environment is a critical condition for maintaining the stability of the enterprise's labor potential. Examples of the application of salary benchmarking in well-known companies were highlighted. Attention was drawn to the relevance of using salary benchmarking in combination with KPIs to stimulate individual and team performance. The need to integrate the obtained results into HRM platforms for the effective implementation of the company's strategic goals was emphasized. Directions for further research in the field of modernization of remuneration management mechanisms were determined. An author's typology of salary benchmarking models is proposed, adapted to the conditions of war and digital transformation, which allows us to distinguish stabilization, relocation, and breakthrough scenarios of compensation management. The results were summarized and key provisions on the modernization of remuneration management in the context of digitalization were substantiated.
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