Економіка та суспільство (Dec 2023)
THE ROLE OF THE MOTIVATION SYSTEM IN THE STRATEGIC DEVELOPMENT OF AN ENTERPRISE
Abstract
The article is dedicated to the exploration of the role of the motivation system in the strategic development of a company and the formulation of practical recommendations for its sustainable growth through the combination of formal and informal motivational methods. It provides an overview of the concept, key functions, and methods of motivation within a company. It is noted that the motivation system in the strategic development of a company constitutes a set of interconnected elements and consists of external and internal motivation, which should be balanced. Employee motivation methods are grouped into four stimulating categories: economic incentives, goal-oriented management, job enrichment, and participation systems. The article forms a conception of an effective motivation system in the contemporary business environment. It identifies a close connection between the personnel motivation system and the corporate culture of the company, which shapes the management philosophy, mission, values, vision, career advancement policies, and the reserve of future leaders supporting a healthy socio-psychological climate within the team, preventing emotional burnout among workers. The necessity of forming a program of personnel changes for the development of highly qualified leaders, ready to solve complex tasks, and actively participate in the strategic development of the company is emphasized. The conclusion is drawn that the effectiveness of the motivation system depends on the specificity of the company, the atmosphere within the team, and the psychological portrait of the employees. According to global experience, the combination of material and non-material motivation methods yields the best results. The motivation system, like the corporate strategy of balanced development, is an essential tool for the strategic development of a company.
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