MINSK, 29 December (BelTA) – Flexible remuneration systems will be able to better evaluate each employee’s contribution and provide a decent payment for efficient labor, deputy head of the chief labor and remuneration department of the Labor and Social Security Ministry of Belarus Viktor Sidorovich said at an expert media seminar “Equal opportunities of the Union State citizens: remuneration reforms”, BelTA has learnt.
Private companies are free to choose a remuneration system. “Remuneration systems should offer financial incentives for employees in order to enhance labor efficiency. Besides, they should be economically justified, which means that the economic effect from using such systems should be greater than an amount of a reward,” the specialist said.
According to him, businesses have now serious reasons to invest in developing various remuneration schemes that would help increase sales, expand the customer base, enhance the motivation of workers and raise profitability.
“Employees should never doubt that the evaluation of their work is impartial and fair, their payment is calculated correctly and is not arbitrarily adjusted by the top management,” Viktor Sidorovich said. To this end, employees should be involved in developing and introducing such systems, the specialist believes.
To keep the flexible remuneration system efficient, its goals, structure, and evaluation criteria should be constantly revised, and feedback from employees should be analyzed. The results of introducing the system should be constantly monitored to make sure a company is able to pay the established bonuses and that these bonuses really help enhance labor efficiency, profitability and the overall financial standing of a company.
All changes should be carefully thought-out. Employees should be well aware of them.
The expert media seminar “Equal opportunities of the Union State citizens: remuneration reforms” was held in Minsk on 28 December. It was initiated by the Labor and Social Security Ministry of Belarus and the Ministry of Health and Social Development of the Russian Federation with the assistance of the Union State Permanent Committee.
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