THE INFLUENCE OF PAYMENT ON THE WELFARE OF THE POPULATION: A COMPARATIVE ANALYSIS OF UKRAINE AND COUNTRIES OF THE WORLD

Abstract

It was established that it is the salary that reflects the contribution to the motivation of employees. It has been established that the salary is a tool that makes it possible to use the labor efficiency of more salaried employees. Peculiarities of wage formation in the conditions of the Ukrainian economy in recent years have been studied. An analysis of the modern theoretical base of its definition is made. The level of the minimum wage among the countries of the world was analyzed, accordingly, its level with world standards. The analysis of the minimum wage in Ukraine for 2016–2022 was performed and the factors affecting its growth and the difference in the minimum wage compared to other countries of the world were determined. The discrepancy between the nominal and real incomes of employees and the possibility of their influence on the reduction was established, which makes it impossible to ensure some living conditions and development of the country’s population. The dynamics of real and nominal wages in Ukraine are analyzed. The need for ways to reform it is suggested. It is pointed to a rather low level of wages, which does not in any way stimulate employees to increase labor productivity and increase the competitiveness of products. In modern conditions, the question is asked whether the salary is the real incentive that uses its main function - the stimulation of work. It is proposed to carry out wage reform, which will contribute to the implementation by our state of the Association Agreement between Ukraine and the EU, the Decent Work Program of the International Labor Organization (ILO) for Ukraine, the Sustainable Development Goals for 2016–2030, the Poverty Alleviation Strategy and the provision of human rights guaranteed by the Constitution of Ukraine . to a sufficient standard of living for himself and his family. It is noted that the criteria for the criteria when choosing ways to correct the situation in the payment of labor are: fulfillment of the international obligations of the state; increasing the purchasing power of wages as a factor of economic development; reduction of the poverty level of the population, in particular among them; level of filling of budgets and social insurance funds; reduction of salary arrears; reduction of forced labor migration poverty.