Babina S.I.Published in:
Creative Economy
– Volume 11, Number 2 (February 2017)



Keywords: compensation, compensation package, compensation policy


Share:

Abstract:

In the current paradigm of human resources management the compensation policy plays a significant role in the development of human capital and in the formation of staff motivation for goals and targets achievement. The article examines the system of concepts and definitions, structure and content of their relationships related to the compensation policy. Design, development and use of the compensation policy thesaurus are aimed at the further development of scientific research, improvement and increase in the efficiency of staff remuneration practices. We define the twofold nature of "compensation" category and consider the classification of compensations. Their classification according to characteristics is necessary for the development of various remuneration systems during the design of compensation packages for different staff categories and groups. We study the concept of "compensation policy" from the standpoint of purposeful activity, which corresponds to the new paradigm of business and human resource management. In the heart of the paradigm lies pooling of company's activities, its structural units and personalities to main strategic goal achievement.

---

References:
(2000). Bolshoy tolkovyy slovar russkogo yazyka [The Large Explanatory Dictionary of the Russian Language] Saint Petersburg: Norint. (in Russian).
(2001). Upravlenie organizatsiey: Entsiklopedicheskiy slovar [Organization management: encyclopaedia] Moscow: INFRA-M. (in Russian).
(2002). Bolshoy ekonomicheskiy slovar [Big dictionary of Economics] Moscow: Institut novoy ekonomiki. (in Russian).
(2007). Bolshaya ekonomicheskaya entsiklopediya [Big economic encyclopedia] Moscow: EKSMO. (in Russian).
(2016). Kompensatsionnyy menedzhment [Compensation management] Kemerovo: KemGU. (in Russian).
Armstrong M. (2004). Praktika upravleniya chelovecheskimi resursami [Human resource management practice] Saint Petersburg: Piter. (in Russian).
Khenderson R. (2004). Kompensatsionnyy menedzhment [Compensation management] Saint Petersburg: Piter. (in Russian).
Kolpakov V.M., Dmitrienko G.A. (2005). Strategicheskiy kadrovyy menedzhment [Strategic human resource management] Kiev: MAUP. (in Russian).
Latfulin G.R., Raychenko A.V. (2004). Teoriya organizatsii [Organization theory] Saint Petersburg: Piter. (in Russian).
Milkovich Dzh. T., Nyuman Dzh. M. (2005). Sistema voznagrazhdeniy i metody stimulirovaniya personala [Staff remuneration and incentives system] Moscow: Vershina. (in Russian).
Odegov Yu.G., Rudenko G.G., Babynina L.S. (2007). Ekonomika truda [Labour economics] Moscow: Alfa-Press. (in Russian).
Povarich I.P., Babin S.A., Babina S.I. (2011). Razrabotka i realizatsiya kompensatsionnoy politiki organizatsii [Development and implementation of the compensation policy of the organization] Moscow: Akademiya Estestvoznaniya. (in Russian).
Schedrovitskiy G.P. (1995). Izbrannye trudy [Selected works] Moscow: Shkola Kulturnoy Politiki. (in Russian).
Tichy N. M., Fombrun C. J., Devanna M. F. (1982). Strategic Human Resource Management Sloan Management Review. 23 (2). 47-61.