Innovative Solutions to Stimulate Labor at Industrial Enterprises

The contribution investigates the formation of modern wage systems. For the modern economy, wage systems based on participation in profits and income distribution are more suitable. The amount of the payment depends on the level of profit, the general results of production and commercial activities. Factors affecting the formation and implementation of the existing wage systems at organizations are considered. Recommendations are given to improve the effectiveness of material incentives and wage systems. Approaches are formulated in the selection of methods focused on the growth and retention of the customer base of the enterprise, using the example of an IT company in order to increase the efficiency of wage systems and the financial and economic stability of the organization as a whole. The algorithm for developing innovative methods of material stimulation as a tool for improving the efficiency of the organization development management is considered. The wage system has been differentiated by revising the grade level. Measures to implement a pay system based on the Hay evaluation method at organizations have been proposed.