Abstract
The article aims to provide analysis of situation, common tendencies and problems of material and non-material personnel motivation in Latvia in the conditions of economic transformation. It is considered that appropriate stimulation mechanisms at the N оmN€anNƒ level would facilitate sustainable entrepreneurship process. Authors claim, that meeting material and non-material needs of employees would lead to enhancement of viability of business companies. Motivation systems in various countries are being compared and suggestions formulated.
Highlights
In the conditions of permanent competition business companies strive to use efficiently resources employed
Notion “motivation” is uncommon for economic science, but during the last years literature published in the field of personnel management revealed interest and contribution of economists
Conclusions of London Economic School researches, which took part together with University of Sheffield are based оn the following results: personnel motivation gives 19% profit rising, research and output-6%, new technologies-1 % (Gratton 2005)
Summary
In the conditions of permanent competition business companies strive to use efficiently resources employed. Research objective: to develop proposals to improve efficiency of the use of human resources in Latvia through improvement of motivational mechanisms of personnel management. Research tasks: to analyze trends in the development of personnel motivation systems in the developed world; to investigate problems with the motivation of staff in the enterprises of Latvia; to make a comparative analysis of methods of motivation used at Western, Russian and Latvian companies; to develop proposals for improving the system of personnel motivation as an important condition for an effective use of human capital in economic development of the region. Object of study - labour market of Latvia, subject of research – motivation of labour at Latvian enterprises. Research methodology: the method of comparative analysis is used in the research, as well as content analysis, and systems methodology and systemic approach are used in developing proposals
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